Is the fragrance industry growing?

Industry Insights The global perfume market size was valued at USD 31.4 billion in 2018 and is expected to expand at a CAGR of 3.9% from 2019 to 2025. The market growth is attributed to the growing trend of personal grooming, coupled with increasing demand for luxury and exotic fragrances.

How much is the fragrance industry worth?

According to the latest report by the publisher, titled “Perfume Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global perfume market reached a value of US$ 32.8 Billion in 2020.

Is the perfume market competitive?

Competitive Landscape The fragrances and perfumes market is highly competitive and comprises international and regional competitors. Coty Inc., L’Oreal, LVMH, and Estée Lauder dominate the market with the help of major strategies, including acquisitions, expansions, and product launches.

How is the fragrance market segmented?

The global fragrance and perfume market can be segmented on the basis of usage, type, product, distribution channels, and geography. On the basis of usage, the market can be segmented by female, men, and unisex perfumes.

Why is the fragrances and perfumes market growing?

The growth of the fragrances and perfumes market is primarily influenced by unpredictable and continuously changing fashion trends. Thus, key market players are focusing on developing an exciting, unique, and new fragrances, to attract different consumer groups across the world.

How big is the fragrance industry in Australia?

Industry losses that are directly attributed to counterfeit products can be as much as 5% of the annual turnover. (Ultramatis) #34. The fragrance market in Australia has a current value of $360 million. For the 5-year period ending in 2018, the average annual rate of growth is expected to be 10.5%.

How many new fragrances are launched each year?

Every year, the fragrance industry launches an average of 400 new products. Within 36 months, only 10% of the products launched will still be on store shelves. (Squarespace) #22. In 2015, there were more than 100 new fragrances launched within the U.S. market.

Which is the largest fragrance category in the world?

Perfume can hold its scent for longer period of time as compare to other scented products. Global fragrance market can be bifurcated into three categories such as perfume, deodorant and others. Household’s user has the largest market share for fragrance products, followed by personal care.