This market research report includes a detailed segmentation of the global perfumes and fragrances market by product price (mass segment and premium) and by distribution channel (specialty stores, departmental stores, online, and others). It also outlines the market shares for key regions like North America, APAC, Europe, and ROW. The key vendors analyzed in this report are Bvlgari, Chanel, Coty, Estee Lauder, and Gucci.
Technavio’s market research analysts estimate the global fragrances and perfumes market, to grow at a CAGR of 2% between 2015 and 2019. The rise in demand from emerging markets, such as APAC, Latin America, and Eastern Europe, and increased online sales of fragrances and perfumes are predicted to bolster the prospects for growth in this market during the forecast period. North America dominates the global market for fragrances and perfumes, accounting for 31% of the total market share. Much of this region’s growth can bet attributed to factors like the improving economy, the rise in the sales of premium brands, and the launch of new products in this region
The new market research report from Technavio provides a breakdown and analysis of the fragrances and perfumes segments by technology.
“Of late, the market is witnessing rise in e-retail of fragrances and perfumes. Now-a-days, Individuals prefer to shop online as it helps to save time and is more convenient. The consumers are becoming more comfortable with online shopping platforms as these sites are becoming safer and more user-friendly. Also, in comparison to the traditional retail formats, fragrances and perfumes are available at 30% cheaper through online channels,” says Brijesh Kumar Chaubey, Lead Analyst, Consumer & Retail, Technavio Research.
The premium segment currently dominates the global fragrances and perfumes market and is anticipated to maintain its dominance over the market by the end of 2019. Factors like the rising disposable income of the populace and a rise in the availability of all brands through online channels are examples of some growth-promoting factors in this segment.
The key vendors in the global fragrances and perfumes market include Bvlgari, Chanel, Coty, Estee Lauder, and Gucci. The market is highly competitive and consists of multiple vendors and large retail chains. The specialist retailers in this market face serious challenges from the retail giants as they have the ability to offer products at lower prices when compared to specialist retailers.
A more detailed analysis is available in the Technavio report, Global Fragrances and Perfumes Market 2015-2019.
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