Perfume and Fragrance Market Share Overall Development of The Industry 2019-2023

Perfume and Fragrance Market Global Industry Analysis by Trends, Size, Share and Forecast to 2023

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Perfume and Fragrance Market Perfume and Fragrance Market: Global Industry Analysis by Trends, Size, Share and Forecast to 2023 Perfume and fragrance is a mixture of chemical compounds characterized by olfactory properties. Perfumes are formulated using a mixture of aroma chemicals extracted from natural or synthetic ingredients. Fragrance is combined in order to impart distinctive odors into the preparations. Perfume and fragrance products are used to get rid of undesirable body odor, produced due to sweating. Perfume and fragrance products majorly include eau de parfum, eau de toilette, eau de cologne and eau fraiche.

With the rising health consciousness among the consumers for personal hygiene, perfumery market is experiencing great demand which is directly adding fuel to the perfume & fragrance market during the recent years. Consumer goods such as body care, spray perfumes, and body deodorants products have become a necessity for consumers. Hence, it is concluded that with the interconnection of both the markets and rising demand for consumer goods, the demand for perfume & fragrance products will also increase.

Moreover, increasing consumer awareness regarding health & wellness, and their growing interest to adopt natural ingredients in perfume & fragrance consumer goods over the synthetically prepared perfume & fragrance products is also considered to be a key factor in the growth of the global perfume & fragrance market.

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Perfume and Fragrance Market Segmental Analysis Among the type, includes eau de parfum segment is anticipated to retain its dominance throughout the forecast period. Also, the segment is projected to register a healthy CAGR of 6.33% during the given period due to increased use of perfumes, spray deodorants, incense and body care products.

Among the ingredients of perfume & fragrance, synthetic segment is accounting for 76% followed by natural ingredients accounting for 24% of the global perfume & fragrance market. The segment is projected to register a healthy CAGR of 5.69% during the forecast period 2017-2023.

Among the consumer group, women segment is anticipated to retain its dominance throughout the forecast period. Also, the segment is projected to register a healthy CAGR of 5.67% during the given period. However, demand for perfume & fragrances is expected to increase for the men’s category owing to introduction of new perfumes & deodorants for men and also increasing consumer awareness regarding beauty & cosmetics products.

Among the distribution channel, store based segment is anticipated to retain its dominance throughout the forecast period.

Also, the segment is projected to register a healthy CAGR of 5.71% during the given period.

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Perfume and Fragrance Market Major Players in this Research: Key Players for Perfume and Fragrance Market: • Elizabeth Arden, Inc. (U.S.), • Loreal (France), • Shiseido (Japan), • IFF (U.S.), • Chanel (France), • Estee Lauder (U.S.), • Avon (U.S.), • Vivenza (Kuwait), • Royal Beauty Group Co.(Kuwait), • AlQuraishi Fragrances (Kuwait),

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Perfume and Fragrance Market Regional Market Analysis

The Asia Pacific perfume & fragrance market is segmented into China, India, and Japan, Australia & New Zealand, ASEAN countries and rest of APAC. This is accredited to product innovations, increased adaption of enhanced products and expanding affluence. Changing and improving lifestyle and demographic factors, as well as increasing population in developing nations are driving demand for perfume & fragrance products in Asia Pacific. Among these, India is projected to retain its dominance throughout the forecast period. India is estimated to reach USD 1949.56 million by the end of 2023. The country is projected to grow at a high growth rate of 8.63% during the review period of 2017-2023. However, China is estimated to grow at a CAGR of 8.01% during the forecast period of 2017-2023.

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