Global Fragrance Market Size By Product Type (Natural, Synthetic), By Application (Fine Fragrance, Detergent), By Distribution Channel (Brand Outlets, Drug Stores), By Geographic Scope And Forecast
Report ID: 129471|No. of Pages: 202
Global Fragrance Market Size By Product Type (Natural, Synthetic), By Application (Fine Fragrance, Detergent), By Distribution Channel (Brand Outlets, Drug Stores), By Geographic Scope And Forecast
Fragrance Market Size And Forecast
Fragrance Market size was valued at USD 58.62 Billion in 2022 and is projected to reach USD 97.39 Billion by 2030, growing at a CAGR of 5.8% from 2023 to 2030.
Demand for Fragrance has been witnessing extremely significant growth in urban areas with rising consumer preference for aromatherapy as a solution for changing lifestyles, and inclination towards bodily health in combination with hectic and time-constrained schedules among individuals. The Global Fragrance Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, trends, value chain analysis, competitive landscape, company profiles, and factors that are playing a substantial role in the market.
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Global Fragrance Market Definition
A fragrance is a harmonious combination comprising natural and synthetic ingredients with stability, diffusiveness, and the ability to get fixed in required cosmetic and other products. It is a blend of natural oils or scent compounds and liquids that generally provide a pleasant aroma to the human body, animals, food, objects, and any living space. In the ancient period, people used spices, plants, and herbs like bergamot, coriander, myrtle, almond, or conifer resin as well as flowers to provide a pleasant scent to their food ingredients. Aromatic oil is used to provide a pleasant aroma to the products, also known as fragrance oil
In western countries, the fragrance is predominantly used on the hidden points of the body by individuals. The pulse parts of the body provide warmth to the perfume which allows a continuous release of fragrance. Depending upon the usage the fragrance industry manufactures various types of perfume. Perfume for the evening, bath oil, lightly scented products, shower gel, and body lotion are used in the morning, eau de toilette for the afternoon, and so on. Compared to other scented products, perfume can hold its scent for a longer period.
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Global Fragrance Market Overview
With an increase in population, there is an increase in the working-class population as well. With greater disposable incomes in hand, people tend to spend more on improving their standard of living by way of spending more on personal hygiene, quality fragrance has become a by-default choice for this new emerging lifestyle. Also, an increase in female workforce participation showcases greater income equality and a greater number of dual-income households resulting in huge aggregate demand.
Rising awareness regarding personal care along with the availability of a wide product portfolio in retail shops are some of the prominent factors driving the demand for the Fragrance Market. Human personal care and appearance have become a sense of self-reliance, pride, and confidence. Fragrances have emerged as essential and luxurious products in today’s era from being a non-essential product. scents are expected to drive the Global Fragrance Market, increased demand for youth-oriented fragrances and celebrity coupled with economic development in growing markets.
The increased spending on an advertisement, attractive packaging, and promotional activity by consumer goods companies including P&G and Unilever have increased the market visibility of fragrance products. The use of fragrances including candles, sprays, gels, and incense sticks in the household industry is anticipated to act as a key market driver. Urbanization is another major factor that is increasing the demand for fragrances globally. One of the major challenges faced by the market is the availability of counterfeit products. Futuristically, the Global Fragrance Market is expected to have moderate growth during the next five to ten years.
Global Fragrance Market: Segmentation Analysis
The Global Fragrance Market is segmented on the basis of Product Type, Application, Distribution Channel, and Geography.
Fragrance Market, By Product Type
- Natural
- Synthetic
Based on Product Type, the market is classified into Natural and Synthetic.
Fragrance Market, By Application
- Fine Fragrance
- Parfum or de parfum
- Eau de Parfum
- Eau de Toilette
- Eau de Cologne
- Other
- Cosmetics & Toiletry
- Hair Care
- Essential Oils & Aromatherapy
- Soap
- Detergent
- Household & Air Care
- Tobacco
- Others
Based on Application, the market is classified into Fine Fragrance, Cosmetics & toiletries, Detergent, Household & Air Care, Tobacco, and Others.
Fragrance Market, By Distribution Channel
- Supermarkets and Hypermarkets
- Brand Outlets
- Drug Stores
- Direct Selling
- Unorganized Retail
- E-Commerce
Based on Distribution Channel, the market is classified into Supermarkets and Hypermarkets, Brand Outlets, Drug Stores, Direct Selling, Unorganized Retail, and E-Commerce.
Fragrance Market, By Geography
- North America
- Europe
- Asia Pacific
- Rest of the world
On the basis of Regional Analysis, the Global Fragrance Market is classified into North America, Europe, Asia Pacific, and Rest of the world.
Key Players
The “Global Fragrance Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are International Flavors & Fragrances, Inc., T. Hasegawa Co., Ltd., Symrise AG, Givaudan SA, Firmenich International SA, Takasago International Corporation, Mane SA, Robertet Group, Soda Aromatic Co., Ltd., Nagaoka Perfumery Co., Ltd. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Key Developments
- In October 2020 Marc Jacobs International and Marc Jacobs Fragrances, a division of Coty Inc. revealed the launch of the brand’s latest women’s fragrance, Perfect Marc Jacobs.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2019-2030 |
| BASE YEAR | 2022 |
| FORECAST PERIOD | 2023-2030 |
| HISTORICAL PERIOD | 2019-2021 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | International Flavors & Fragrances, Inc., T. Hasegawa Co., Ltd., Symrise AG, Givaudan SA, Firmenich International SA, Takasago International Corporation. |
| SEGMENTS COVERED | By Product Type, By Application, By Distribution Channel, and By Geography. |
| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope. |
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• Provision of market value (USD Billion) data for each segment and sub-segment.
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• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region.
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled.
• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions.
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis.
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Data Collection Matrix
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Econometrics and data visualization model
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Industry Analysis Matrix
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