Report Overview

The global perfume market size was valued at USD 50.85 billion in 2022 and is expected to register a compound annual growth rate (CAGR) of 5.9% from 2023 to 2030. The market growth is attributed to the growing trend of personal grooming, coupled with increasing demand for luxury and exotic fragrances. Moreover, increasing consumer spending on premium and luxury fragrances due to the high-income level, along with improving living standards, is driving the global industry. In recent years, perfumes have evolved into a significant business in the cosmetics and personal care industry. Perfumes have emerged as an essential product driven by the growing trend of personal care, forming a part of pride and confidence.

However, the adverse effects of synthetic chemicals used in perfumes could restrain product adoption and are projected to hamper growth during the forecast period. In addition, the growing demand for natural ingredients-based perfume products across the globe is projected to provide significant opportunities for industry growth. Moreover, the growing trend for using customized fragrances is further expected to boost industry growth. For instance, WAFT Perfume, Inc. offers custom fragrances for personal use as well as for gifting purposes. The COVID-19 pandemic negatively impacted the global industry as the sales of industry players declined during the COVID-19 outbreak.

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

U.S. perfume market size, by product, 2020 - 2030 (USD Billion)

Product Insights

Based on products, the global industry is further classified into mass and premium. The premium segment contributed to the largest revenue share of over 55% in 2022. The growth has surpassed that of mass fragrance products in the last few years owing to a greater emphasis on quality, personalization, and exclusivity. Manufacturers are also focusing on widening their offerings to include high-end products

End-user Insights

The women end-user segment accounted for the largest share of more than 62.85% in 2022. It is observed that women in the U.S. purchase a new perfume as often as once a month, in comparison to men who buy it on an average of 1-2 times per year. As per a survey, around 41% of the females in the U.S. use perfumes every day as compared to men. In the U.K., women pay more for fragrances than men, wherein female perfumes cost an average of about 6p more per ml compared to male fragrances of the same brands. Perfume sales are expected to rise among women irrespective of its high price points, as they consider it to be an essential part of personal care.

Distribution Channel Insights

On the basis of distribution channels, the industry has been categorized into offline and online. The offline segment accounted for the largest share of more than 74.65% in 2022. Consumers prefer this channel to purchase their products due to the availability of a wide range of options as well as the facility of scanning the product details before any purchase. The offline segment is also driven by sales from specialty stores that offer premium products. The layout of the supermarket and promotional campaigns by leading brands have also increased the sales volume through these channels. 

Regional Insights

Europe accounted for the largest revenue share of more than 35.10% in 2022. Major countries contributing to the regional growth include Germany, France, and the U.K. In 2020, Coty Inc. was positioned as the leading player in the perfume industry in Germany. The growth was attributed to the strong sales of premium products through brands, such as Jil Sander and Calvin Klein, along with new product launches from other brands, such as Hugo Boss. France is home to numerous leading fragrance brands, such as Christian Dior, Chanel, and Guerlain. The country has been driving the Europe market with the highest production and export values. Asia Pacific is expected to emerge as the fastest-growing region over the forecast period.

Key Companies & Market Share Insights

Major companies are developing products aiming to provide fragrances that adapt easily to consumers’ skin pH levels, thereby spurring the growth of the global market. Some of the initiatives taken by players operating in the industry include:

  • In September 2022, Givaudan announced its collaboration with LanzaTech to develop fragrance ingredients that are sustainable using renewable carbon
  • In September 2021, Coty Inc. announced the partnership agreement with Perfect Corp. for the integration of a suite of AI and AR practices into the digital marketing toolkits of its cosmetics brands
  • In October 2020, Coty Inc. announced the launch of a new fragrance ‘Perfect Marc Jacobs’ for women under its division Marc Jacobs International and Marc Jacobs Fragrances

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

Some of the prominent players in the global perfume market include:

  • The Avon Company
  • CHANEL
  • Coty Inc.
  • LVMH Moet Hennessy-Louis Vuitton
  • The Estée Lauder Companies
  • Revlon
  • Puig
  • L'Oréal Groupe
  • Shiseido Company, Ltd.
  • Givaudan
  • Hermès
  • KERING

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.

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