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Fragrance Market Size, Share, Global Revenue, Future Demand, Top Leading Manufactures by 2028

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Fragrance Market Outlook

Fragrances are solutions designed to stimulate the olfactory senses. The global fragrances market report compiled by Market Research Future (MRFR) contains insights and analysis on latest trends, benchmarking of products, and coverage of key regions for the period of 2021 to 2027  The impact of the COVID-19 pandemic and its effects are analyzed on the Fragrances Market size was valued at $28,193.1 million in 2019, and is projected to reach $35,914.3 billion by 2027, registering a CAGR of 4.7% from 2021 to 2027.

Market Key Players

Abdul Samad Al Qurashi, Chanel S.A., Oriflame Holding AG, PDC Brands, Vivenza, Inter Parfums Holdings, S.A., Rasasi Perfumes Industry LLC, Shiseido Company, Limited, AlQuraishi Fragrances, International Flavors & Fragrances, Inc.,Avon Products, Inc., Royal Beauty Group Co., L’Oréal S.A., The Estée Lauder Companies Inc., and Revlon, Inc. are key players of the global perfume fragrance market.

Regional Analysis

The global fragrances market has been analyzed for four key regions—North America, Europe, Asia Pacific (APAC), South America, Middle East, and Africa (MEA).

Europe is expected to dominate the global market due to fragrances and perfumes acting as ideal gifts for celebrations or special occasions. France is expected to dominate the market and kickstart the trend of natural fragrances and perfumes owing to its aversion to synthetic perfumes. Intense promotional campaigns in Germany as well as reduced prices of luxury fragrances can foster market growth.

APAC is projected to be highly lucrative for the global fragrances market due to its high production and sales in China. The COVID-19 pandemic has presented challenges in terms of the supply of flavors and fragrance ingredients and threatens to upend the fragrances market size  in India. However, ease of permissions can help dealers in logistical issues and bolster the domestic demand.

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Segmentation

The global fragrances market  has been segmented based on product type, ingredients, category, and distribution channel.

Based on product type, it is segmented into Eau Fraiche, Eau de parfum, Eau de Toilette, Eau de Cologne, and others. The Eau de Parfum segment is expected to dominate during the forecast period and will exhibit 6.33% CAGR till 2023.

The global Fragrance Market Size has been segregated, based on ingredients, into natural and synthetic. Synthetic fragrances accounted for 76% share in 2016, while natural fragrances accounted for 24% market share.

By category, it targets men, women, and unisex. Women accounted for a large market share and will register 5.67% CAGR during the forecast period. However, men can register a larger share during the assessment period due to introduction of new fragrances and perfumes targeted at men.

The global luxury fragrance market has been divided, by distribution channel, into store-based, and non-store based. Store-based distribution channel has been further segmented into supermarkets & hypermarkets, specialty stores, and others.

The sudden outbreak of the COVID-19 pandemic has pushed the sales of functional fragrances. Functional fragrances can uplift a person’s mood accordingly and offered with various aromas. Whiff, a Singapore company, has decided to capitalize on the trend and launched a range of hand sanitizers with a functional fragrance.

NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

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