Perfume Market Size, Price Trends, Analysis, Industry Overview, Latest Insights and Forecast 2022-2027

Global perfume market size reached US$ 33.5 Billion in 2021. Looking forward the market is expected to reach US$ 47.6 Billion by 2027, at CAGR of 6.1% during.

SHERIDAN, WYOMING, UNITED STATES, November 13, 2022 /EINPresswire.com/ -- According to IMARC Group’s latest report, titled “Perfume Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global perfume market size reached US$ 33.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 47.6 Billion by 2027, exhibiting a growth rate (CAGR) of 6.1% during 2022-2027.

This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Perfumes are sweet-smelling odor-producing mixtures that are made of scented oils and aromatic chemicals extracted from various natural sources, including flowers, spices, balsams, and plant roots. During their production procedure, various ingredients, such as water, alcohol, solvents, fixatives and synthetically modified chemicals, are further added to maintain the fragrance structure and allow diffusion of components. Perfumes help increase self-competence and mood, relieve anxiety, alter emotions or perceptions, and improve overall personality and appearance. As a result, it is widely utilized by consumers while attending diverse events to increase self-appeal.

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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Perfume Market Trends:

The growing need for various premium personal care products for grooming purposes and the increasing consumer consciousness regarding their present ability in events, meetings, social gatherings, and workforce atmosphere are primarily driving the market growth. This is further influenced by the rising consumer expenditure on luxury perfumes on account of inflating income levels and improving standards of living. Additionally, the ongoing customization of the product and the introduction of touchless artificial intelligence (AI)-based perfume applications in diverse scent options are favoring the market growth.

Moreover, rapid urbanization, and the shifting consumer inclination toward online shopping platforms, such as e-commerce, especially during the COVID-19 pandemic due to easy product availability, discounts, and promotions, are supplementing product sales across the globe. Besides this, aggressive advertisements, continuous celebrity endorsements, and strategic collaborations amongst key players to design natural ingredient-infused unisex fragrances with attractive packaging solutions are propelling the market growth.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Competitive Landscape with Key Players:

The competitive landscape of the market has also been examined with some of the key players.

• Avon Products Inc.
• Natura Cosméticos SA
• Chanel SA
• Coty Inc.
• LVMH
• L'Oréal SA.

Key Market Segmentation:

The report has categorized the market based on perfume type, category and distribution channel.

Breakup by Perfume Type:

• Premium Perfume Products
• Mass Perfume Products

Breakup by Category:

• Female Fragrances
• Male Fragrances
• Unisex Fragrances

Breakup by Distribution Channel:

• Speciality stores
• Departmental stores
• Online stores
• Hypermarkets & supermarkets
• Others

Regional Insights:

• Brazil
• United States
• Germany
• France
• Russia

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Key highlights of the report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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IMARC Services Private Limited
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