Global Perfumes Market Study, 2020 - A $46.1B Opportunity by 2023, Driven by the Rapid Growth in Millennial Population and Growing Consumer Preference for Natural Fragrances

DUBLIN, Jan. 16, 2020 /PRNewswire/ -- The "Perfumes Global Market Report 2020" report has been added to ResearchAndMarkets.com's offering.

This report covers global market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider perfumes market, and compares it with other markets.

The global perfumes market was worth $30.6 billion in 2019. It is expected to grow at a CAGR of 10.8% and reach $46.1 billion by 2023.

The perfumes market covered in this report is segmented by product into mass and premium. The perfumes market in this report is segmented by end user into women and men. The perfumes market in this report is segmented by distribution channel into offline and online.

Rapid growth in millennial population is expected to drive the perfumes market. As of 2016, there were approximately 2 billion millennials globally. Young people tend to spend more than old on cosmetics, in an effort to improve looks and quality of life. For instance, sales of cosmetics products in millennials, increased by around 25% between 2015 and 2017. By 2025, millennials are expected to constitute to nearly three-quarters of the global work force. As millennials will represent a large part of the global workforce and play a major role in driving the current economy, their preferences and shopping habits will be an important driving factor for the perfumes market.

Counterfeits are made to look like known brands; consumers find it difficult to distinguish genuine products from the counterfeit products, thereby damaging the brand's reputation and devaluing the investment made by the brand, resulting in loss of revenues. For instance, statistics published by the European Commission states that over 40 million counterfeit articles were confiscated. Therefore, rising instances of counterfeiting limits the growth of the perfumes market.

There is a growing preference by consumers for natural fragrances in the perfumes market. According to the survey conducted by Kari Gran, 75% of millennial women prefer buying natural product and 44% prefer natural ingredient perfumes. Perfume manufacturing companies are focusing on development of natural fragrances for perfumes due to rising concerns of allergic reaction and toxins in synthetic ingredients. For instance, IME Natural Perfumes are made up of 100% natural ingredient and are also certified as toxin-free perfumes.

Major players in the market are Coty Inc., Shiseido Company Limited, L'Oreal SA, LVMH Mot Hennessy Louis Vuitton SE, Revlon Inc., Avon Products Inc., Abdul Samad Al Qurashi, Estee Lauder Companies Inc., Oriflame Holding AG, Chanel SA.

Key Topics Covered

1. Executive Summary

2. Perfumes Market Characteristics

3. Perfumes Market Size And Growth
3.1. Global Perfumes Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Perfumes Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market

4. Perfumes Market Segmentation
4.1. Global Perfumes Market, Segmentation By Product, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

• Mass
• Premium

4.2. Global Perfumes Market, Segmentation By End User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

• Women
• Men

4.3. Global Perfumes Market, Segmentation By Distribution Channel, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

• Offline
• Online

5. Perfumes Market Regional And Country Analysis
5.1. Global Perfumes Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Perfumes Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

Companies Mentioned

• Coty Inc.
• Shiseido Company Limited
• L'Oreal S.A.
• LVMH Mot Hennessy Louis Vuitton SE
• Revlon Inc.
• Avon Products Inc.
• Abdul Samad Al Qurashi
• Estee Lauder Companies Inc.
• Oriflame Holding AG
• Chanel S.A.
• Elizabeth Arden Inc.
• Natura Cosmticos S.A.
• Herms International S.A.
• Inter Parfums Inc.
• PDC Brands
• Puig SL
• Christian Dior
• Calvin Klein
• Vivenza
• Royal Beauty Group Co.
• AlQuraishi Fragrances
• Reehat Al Atoor
• Asghar Ali Co. W.L.L.
• Rasasi Perfumes Industry LLC
• Arabian Oud
• Swiss Arabian Perfume Group
• Atyab Al Marshoud
• Al Shaya
• Ajmal Perfume
• Abdulsamad Al Qurashi

For more information about this report visit https://www.researchandmarkets.com/r/esftcu

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