NEW YORK, July 4, 2023 /PRNewswire/ -- The fragrances market size is set to grow by USD 12,762.49 million between 2022 and 2027 and register a CAGR of 4.97%, according to Technavio's latest market research report estimates. With a focus on identifying dominant industry influencers, Technavio's reports present a detailed study by way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Technavio offers in-depth market insights that assist global businesses to obtain growth opportunities. Read Sample Report
The report also covers the following areas:
Fragrances Market 2023-2027: Segmentation
- Type
- Natural
- Synthetic
- Application
- Household Care
- Personal Care and Cosmetics
- Fine Fragrances
- Geography
- North America
- Europe
- APAC
- South America
- Middle East and Africa
The market share growth by the natural segment will be significant during the forecast period. The natural fragrance constitutes components from plants such as natural essential oils, flower extracts, and aroma-producing. Techniques like fermentation, rough expression, distillation, supercritical fluid extraction, and solvent extraction are used to create fragrances from plants. Furthermore, these natural fragrances provide various health benefits, which are expected to drive market growth during the forecast period. For example, natural fragrances have emotional and physical healing properties such as energy-enhancing, calming, and mood-lifting. Therefore, such factors will drive the demand for natural fragrances during the forecast period.
Fragrances Market 2023-2027: Vendor Analysis and Scope
Some of the major vendors of the fragrances market include AirEsscentials Inc., Amway Corp., CavinKare Pvt. Ltd., CHANEL Ltd., Coty Inc., Firmenich SA, Giorgio Armani S.p.A., Givaudan SA, Groupe Clarins, Henkel AG and Co. KGaA, Lion Corp., LOreal SA, LVMH Moet Hennessy Louis Vuitton SE, Natura and Co Holding SA, Newell Brands Inc., Reckitt Benckiser Group PLC, Revlon Inc., The Estee Lauder Co. Inc., The Procter and Gamble Co., and Unilever PLC. To help businesses improve their market position, Technavio's report provides a detailed analysis of around 15+ vendors operating in the market.
Vendor Offering
- AirEsscentials Inc. - The company offers fragrances such as Adventure, Black Tea and Fig, and Asian Mint.
- CavinKare Pvt. Ltd. - The company offers fragrances such as Spinz Black Magic Perfumed Deo, and Spinz Orange Zest Perfumed Deodorant.
- Coty Inc. - The company offers fragrances under the brand, Chloe.
Fragrances Market 2023-2027: Market Dynamics
Key Drivers
- The rising demand for cosmetics is notably driving the fragrances market growth.
- Fragrances are majorly used in cosmetics to produce perfumes and colognes.
- This key factor is the increase in the number of working women owing to the rising purchasing power of women.
- They are also utilized in personal and hygiene-related products such as shampoos, soaps, lotions, and others.
- Furthermore, the rise in demand for personal care products drives the market for fragrances.
- Hence, these factors are expected to drive the fragrance market during the forecast period.
Major trends
- The increasing preference for natural fragrances is a major trend shaping the fragrances market.
- The key factor is the rising demand for natural fragrances among consumers that are derived from plants, animals, or fruits.
- This growth in natural fragrances is due to growing awareness of the harmful effects of such chemicals on the skin and health.
- For example, Givaudan SA launched its Blossom Lab in April 2021, a fully working transportable laboratory that allows for the development of unique natural extraction procedures and the synthesis of natural scent component qualities directly from plants.
- As a result, natural fragrances are gaining popularity among consumers over synthetic ones due to their various benefits.
- Hence, these benefits are expected to drive market growth during the forecast period.
Significant Challenges
- The low shelf life of natural fragrances is a major challenge restricting the fragrances market growth.
- There are many essential oils that are considered volatile and prone to evaporate quickly, including bergamot, cajuput, cumin, eucalyptus, lime, mandarin, and others.
- As a result, it is a major challenge for the vendors who are selling these fragrances.
- Furthermore, Base notes, which are less volatile than top notes, include essential oils of benzoin, cinnamon leaf, clove, and cedarwood.
- Hence, these factors are expected to hamper the growth of the market during the forecast period.
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- Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
- Global competitiveness and key competitor positions
- Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - Buy the report!
Fragrances Market 2023-2027: Key Highlights
- CAGR of the market during the forecast period 2023-2027
- Detailed information on factors that will assist fragrances market growth during the next five years
- Estimation of the fragrances market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the fragrances market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of fragrances market vendors
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Fragrances Market Scope |
|
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.97% |
Market growth 2023-2027 |
USD 12,762.49 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.54 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 30% |
Key countries |
US, Canada, China, Germany, and the UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
AirEsscentials Inc., Amway Corp., CavinKare Pvt. Ltd., CHANEL Ltd., Coty Inc., Firmenich SA, Giorgio Armani S.p.A., Givaudan SA, Groupe Clarins, Henkel AG and Co. KGaA, Lion Corp., LOreal SA, LVMH Moet Hennessy Louis Vuitton SE, Natura and Co Holding SA, Newell Brands Inc., Reckitt Benckiser Group PLC, Revlon Inc., The Estee Lauder Co. Inc., The Procter and Gamble Co., and Unilever PLC |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
1 Executive Summary
- 1.1 Market Overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.3 Market size 2022
- 3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
- Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
- 4.1 Global fragrances market 2017 - 2021
- Exhibit 18: Historic Market Size – Data Table on Global fragrances market 2017 - 2021 ($ million)
- 4.2 Type Segment Analysis 2017 - 2021
- Exhibit 19: Historic Market Size – Type Segment 2017 - 2021 ($ million)
- 4.3 Application Segment Analysis 2017 - 2021
- Exhibit 20: Historic Market Size – Application Segment 2017 - 2021 ($ million)
- 4.4 Geography Segment Analysis 2017 - 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
- 4.5 Country Segment Analysis 2017 - 2021
- Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
- 5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
- 5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
- 5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
- 5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
- 5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
- 5.7 Market condition
- Exhibit 29: Chart on Market condition - Five forces 2022 and 2027
6 Market Segmentation by Type
- 6.1 Market segments
- Exhibit 30: Chart on Type - Market share 2022-2027 (%)
- Exhibit 31: Data Table on Type - Market share 2022-2027 (%)
- 6.2 Comparison by Type
- Exhibit 32: Chart on Comparison by Type
- Exhibit 33: Data Table on Comparison by Type
- 6.3 Natural - Market size and forecast 2022-2027
- Exhibit 34: Chart on Natural - Market size and forecast 2022-2027 ($ million)
- Exhibit 35: Data Table on Natural - Market size and forecast 2022-2027 ($ million)
- Exhibit 36: Chart on Natural - Year-over-year growth 2022-2027 (%)
- Exhibit 37: Data Table on Natural - Year-over-year growth 2022-2027 (%)
- 6.4 Synthetic - Market size and forecast 2022-2027
- Exhibit 38: Chart on Synthetic - Market size and forecast 2022-2027 ($ million)
- Exhibit 39: Data Table on Synthetic - Market size and forecast 2022-2027 ($ million)
- Exhibit 40: Chart on Synthetic - Year-over-year growth 2022-2027 (%)
- Exhibit 41: Data Table on Synthetic - Year-over-year growth 2022-2027 (%)
- 6.5 Market opportunity by Type
- Exhibit 42: Market opportunity by Type ($ million)
- Exhibit 43: Data Table on Market opportunity by Type ($ million)
7 Market Segmentation by Application
- 7.1 Market segments
- Exhibit 44: Chart on Application - Market share 2022-2027 (%)
- Exhibit 45: Data Table on Application - Market share 2022-2027 (%)
- 7.2 Comparison by Application
- Exhibit 46: Chart on Comparison by Application
- Exhibit 47: Data Table on Comparison by Application
- 7.3 Household care - Market size and forecast 2022-2027
- Exhibit 48: Chart on Household care - Market size and forecast 2022-2027 ($ million)
- Exhibit 49: Data Table on Household care - Market size and forecast 2022-2027 ($ million)
- Exhibit 50: Chart on Household care - Year-over-year growth 2022-2027 (%)
- Exhibit 51: Data Table on Household care - Year-over-year growth 2022-2027 (%)
- 7.4 Personal care and cosmetics - Market size and forecast 2022-2027
- Exhibit 52: Chart on Personal care and cosmetics - Market size and forecast 2022-2027 ($ million)
- Exhibit 53: Data Table on Personal care and cosmetics - Market size and forecast 2022-2027 ($ million)
- Exhibit 54: Chart on Personal care and cosmetics - Year-over-year growth 2022-2027 (%)
- Exhibit 55: Data Table on Personal care and cosmetics - Year-over-year growth 2022-2027 (%)
- 7.5 Fine fragrances - Market size and forecast 2022-2027
- Exhibit 56: Chart on Fine fragrances - Market size and forecast 2022-2027 ($ million)
- Exhibit 57: Data Table on Fine fragrances - Market size and forecast 2022-2027 ($ million)
- Exhibit 58: Chart on Fine fragrances - Year-over-year growth 2022-2027 (%)
- Exhibit 59: Data Table on Fine fragrances - Year-over-year growth 2022-2027 (%)
- 7.6 Market opportunity by Application
- Exhibit 60: Market opportunity by Application ($ million)
- Exhibit 61: Data Table on Market opportunity by Application ($ million)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 63: Chart on Market share by geography 2022-2027 (%)
- Exhibit 64: Data Table on Market share by geography 2022-2027 (%)
- 9.2 Geographic comparison
- Exhibit 65: Chart on Geographic comparison
- Exhibit 66: Data Table on Geographic comparison
- 9.3 North America - Market size and forecast 2022-2027
- Exhibit 67: Chart on North America - Market size and forecast 2022-2027 ($ million)
- Exhibit 68: Data Table on North America - Market size and forecast 2022-2027 ($ million)
- Exhibit 69: Chart on North America - Year-over-year growth 2022-2027 (%)
- Exhibit 70: Data Table on North America - Year-over-year growth 2022-2027 (%)
- 9.4 Europe - Market size and forecast 2022-2027
- Exhibit 71: Chart on Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 72: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 73: Chart on Europe - Year-over-year growth 2022-2027 (%)
- Exhibit 74: Data Table on Europe - Year-over-year growth 2022-2027 (%)
- 9.5 APAC - Market size and forecast 2022-2027
- Exhibit 75: Chart on APAC - Market size and forecast 2022-2027 ($ million)
- Exhibit 76: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
- Exhibit 77: Chart on APAC - Year-over-year growth 2022-2027 (%)
- Exhibit 78: Data Table on APAC - Year-over-year growth 2022-2027 (%)
- 9.6 South America - Market size and forecast 2022-2027
- Exhibit 79: Chart on South America - Market size and forecast 2022-2027 ($ million)
- Exhibit 80: Data Table on South America - Market size and forecast 2022-2027 ($ million)
- Exhibit 81: Chart on South America - Year-over-year growth 2022-2027 (%)
- Exhibit 82: Data Table on South America - Year-over-year growth 2022-2027 (%)
- 9.7 Middle East and Africa - Market size and forecast 2022-2027
- Exhibit 83: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
- Exhibit 84: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
- Exhibit 85: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- Exhibit 86: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- 9.8 US - Market size and forecast 2022-2027
- Exhibit 87: Chart on US - Market size and forecast 2022-2027 ($ million)
- Exhibit 88: Data Table on US - Market size and forecast 2022-2027 ($ million)
- Exhibit 89: Chart on US - Year-over-year growth 2022-2027 (%)
- Exhibit 90: Data Table on US - Year-over-year growth 2022-2027 (%)
- 9.9 Germany - Market size and forecast 2022-2027
- Exhibit 91: Chart on Germany - Market size and forecast 2022-2027 ($ million)
- Exhibit 92: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
- Exhibit 93: Chart on Germany - Year-over-year growth 2022-2027 (%)
- Exhibit 94: Data Table on Germany - Year-over-year growth 2022-2027 (%)
- 9.10 Canada - Market size and forecast 2022-2027
- Exhibit 95: Chart on Canada - Market size and forecast 2022-2027 ($ million)
- Exhibit 96: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
- Exhibit 97: Chart on Canada - Year-over-year growth 2022-2027 (%)
- Exhibit 98: Data Table on Canada - Year-over-year growth 2022-2027 (%)
- 9.11 China - Market size and forecast 2022-2027
- Exhibit 99: Chart on China - Market size and forecast 2022-2027 ($ million)
- Exhibit 100: Data Table on China - Market size and forecast 2022-2027 ($ million)
- Exhibit 101: Chart on China - Year-over-year growth 2022-2027 (%)
- Exhibit 102: Data Table on China - Year-over-year growth 2022-2027 (%)
- 9.12 UK - Market size and forecast 2022-2027
- Exhibit 103: Chart on UK - Market size and forecast 2022-2027 ($ million)
- Exhibit 104: Data Table on UK - Market size and forecast 2022-2027 ($ million)
- Exhibit 105: Chart on UK - Year-over-year growth 2022-2027 (%)
- Exhibit 106: Data Table on UK - Year-over-year growth 2022-2027 (%)
- 9.13 Market opportunity by geography
- Exhibit 107: Market opportunity by geography ($ million)
- Exhibit 108: Data Tables on Market opportunity by geography ($ million)
10 Drivers, Challenges, and Trends
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Exhibit 109: Impact of drivers and challenges in 2022 and 2027
- 10.4 Market trends
11 Vendor Landscape
- 11.1 Overview
- 11.2 Vendor landscape
- Exhibit 110: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 111: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 112: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 113: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 114: Matrix on vendor position and classification
- 12.3 AirEsscentials Inc.
- Exhibit 115: AirEsscentials Inc. - Overview
- Exhibit 116: AirEsscentials Inc. - Product / Service
- Exhibit 117: AirEsscentials Inc. - Key offerings
- 12.4 Amway Corp.
- Exhibit 118: Amway Corp. - Overview
- Exhibit 119: Amway Corp. - Product / Service
- Exhibit 120: Amway Corp. - Key news
- Exhibit 121: Amway Corp. - Key offerings
- 12.5 CavinKare Pvt. Ltd.
- Exhibit 122: CavinKare Pvt. Ltd. - Overview
- Exhibit 123: CavinKare Pvt. Ltd. - Product / Service
- Exhibit 124: CavinKare Pvt. Ltd. - Key offerings
- 12.6 CHANEL Ltd.
- Exhibit 125: CHANEL Ltd. - Overview
- Exhibit 126: CHANEL Ltd. - Business segments
- Exhibit 127: CHANEL Ltd. - Key offerings
- Exhibit 128: CHANEL Ltd. - Segment focus
- 12.7 Coty Inc.
- Exhibit 129: Coty Inc. - Overview
- Exhibit 130: Coty Inc. - Business segments
- Exhibit 131: Coty Inc. - Key offerings
- Exhibit 132: Coty Inc. - Segment focus
- 12.8 Henkel AG and Co. KGaA
- Exhibit 133: Henkel AG and Co. KGaA - Overview
- Exhibit 134: Henkel AG and Co. KGaA - Business segments
- Exhibit 135: Henkel AG and Co. KGaA - Key news
- Exhibit 136: Henkel AG and Co. KGaA - Key offerings
- Exhibit 137: Henkel AG and Co. KGaA - Segment focus
- 12.9 LVMH Moet Hennessy Louis Vuitton SE
- Exhibit 138: LVMH Moet Hennessy Louis Vuitton SE - Overview
- Exhibit 139: LVMH Moet Hennessy Louis Vuitton SE - Business segments
- Exhibit 140: LVMH Moet Hennessy Louis Vuitton SE - Key news
- Exhibit 141: LVMH Moet Hennessy Louis Vuitton SE - Key offerings
- Exhibit 142: LVMH Moet Hennessy Louis Vuitton SE - Segment focus
- 12.10 Natura and Co Holding SA
- Exhibit 143: Natura and Co Holding SA - Overview
- Exhibit 144: Natura and Co Holding SA - Business segments
- Exhibit 145: Natura and Co Holding SA - Key offerings
- Exhibit 146: Natura and Co Holding SA - Segment focus
- 12.11 Newell Brands Inc.
- Exhibit 147: Newell Brands Inc. - Overview
- Exhibit 148: Newell Brands Inc. - Business segments
- Exhibit 149: Newell Brands Inc. - Key news
- Exhibit 150: Newell Brands Inc. - Key offerings
- Exhibit 151: Newell Brands Inc. - Segment focus
- 12.12 Reckitt Benckiser Group PLC
- Exhibit 152: Reckitt Benckiser Group PLC - Overview
- Exhibit 153: Reckitt Benckiser Group PLC - Business segments
- Exhibit 154: Reckitt Benckiser Group PLC - Key offerings
- Exhibit 155: Reckitt Benckiser Group PLC - Segment focus
- 12.13 Revlon Inc.
- Exhibit 156: Revlon Inc. - Overview
- Exhibit 157: Revlon Inc. - Business segments
- Exhibit 158: Revlon Inc. - Key offerings
- Exhibit 159: Revlon Inc. - Segment focus
- 12.14 The Estee Lauder Co. Inc.
- Exhibit 160: The Estee Lauder Co. Inc. - Overview
- Exhibit 161: The Estee Lauder Co. Inc. - Product / Service
- Exhibit 162: The Estee Lauder Co. Inc. - Key offerings
- 12.15 The Procter and Gamble Co.
- Exhibit 163: The Procter and Gamble Co. - Overview
- Exhibit 164: The Procter and Gamble Co. - Business segments
- Exhibit 165: The Procter and Gamble Co. - Key news
- Exhibit 166: The Procter and Gamble Co. - Key offerings
- Exhibit 167: The Procter and Gamble Co. - Segment focus
- 12.16 Unilever PLC
- Exhibit 168: Unilever PLC - Overview
- Exhibit 169: Unilever PLC - Business segments
- Exhibit 170: Unilever PLC - Key news
- Exhibit 171: Unilever PLC - Key offerings
- Exhibit 172: Unilever PLC - Segment focus
13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Exhibit 173: Inclusions checklist
- Exhibit 174: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 175: Currency conversion rates for US$
- 13.4 Research methodology
- Exhibit 176: Research methodology
- Exhibit 177: Validation techniques employed for market sizing
- Exhibit 178: Information sources
- 13.5 List of abbreviations
- Exhibit 179: List of abbreviations
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