Perfume Market 2030: Navigating Challenges in Synthetic Ingredients...

Perfume Market 2030: Navigating Challenges in Synthetic Ingredients

Posted 2024-10-10 07:32:31

201

Perfume Market Growth & Trends

The global perfume market size is estimated to reach USD 80.16 billion in 2030 and is anticipated to expand at a CAGR of 5.9% from 2023 to 2030, according to a new report by Grand View Research, Inc. One of the major factors significantly driving the industry is the rising spending by consumers on exotic and luxury perfumes across the world. Moreover, the rising trend of personal grooming is contributing to the growth of the industry. The growth is also fueled by the increasing trend and demand for perfumes manufactured using natural ingredients. In addition, the increase in the launch of innovative products, as per the customer requirements, by various players operating in the industry will support market growth. However, the harmful effects of perfumes manufactured using synthetic chemicals are expected to restrain the industry's growth.

The premium product segment dominated the industry in 2022 and is estimated to remain dominant throughout the forecast period. The larger share of the segment is attributed to various features of premium perfumes, such as the exclusivity of the product, personalization, and high product quality. Furthermore, the growing adoption of luxury and premium fragrances in developing countries is boosting segment growth. Europe accounted for the largest share of the overall revenue in 2022 and is anticipated to expand further at a significant CAGR over the forecast period. The presence of a large number of leading manufacturers in the region is a key factor contributing to its growth. Moreover, the region is responsible for the high export and production of perfumes, which is boosting market growth.

Gather more insights about the market drivers, restrains and growth of the Global Perfume Market

Perfume Market Report Highlights

Asia Pacific is expected to grow at the fastest CAGR over the forecast period. The growing sales of luxury & premium perfume along with the rising disposable income is expected to boost the region’s growth
The men end-user segment is estimated to grow at a significant CAGR over the forecast period
This is due to the rising endorsements by male celebrities, which is influencing customers purchasing decisions
The online distribution channel segment is estimated to register the fastest CAGR over the forecast period due to the growing e-commerce industry in emerging economies
Major manufacturers are adopting various strategies, such as global expansion, partnerships, acquisitions & mergers, and development & launch of new products, to gain higher shares in the global market

Browse through Grand View Research's Beauty & Personal Care Industry Research Reports.

Dental Floss Market Size, Share & Trends Analysis Report By Product (Waxed Floss, Unwaxed Floss, Dental Tape, And Others), By Distribution Channel (Offline, Online), By Region, And Segment Forecasts, 2024 - 2030
Massage Therapy Service Market Size, Share & Trends Analysis Report By Massage Type (Swedish Massage, Deep Tissue Massage, Sports Massage), By End Use, By Service Provider, By Region, And Segment Forecasts, 2024 - 2030

Perfume Market Segmentation

Grand View Research has segmented the global perfume market on the basis of product, end-user, distribution channel, and region:

Perfume Product Outlook (Revenue, USD Million, 2017 - 2030)

Mass
Premium

Perfume End-user Outlook (Revenue, USD Million, 2017 - 2030)

Men
Women
Unisex

Perfume Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)

Offline
Online

Perfume Regional Outlook (Revenue, USD Million, 2017 - 2030)

North America
- U.S.
- Canada
- Mexico
Europe
- U.K.
- Germany
- France
- Italy
- Spain
Asia Pacific
- China
- India
- Japan
- South Korea
- Singapore
Central & South America
- Brazil
Middle East & Africa
- UAE

Order a free sample PDF of the Perfume Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.

Explore Horizon, the world's most expansive market research database