Perfume Market in India to grow by USD 1.32 billion from 2022 to 2027 | Replenishing personal grooming to boost market growth - Technavio

NEW YORK, Oct. 6, 2023 /PRNewswire/ -- The perfume market in India is expected to grow by USD 1.32 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 15.23% during the forecast period. Increasing demand from the millennial population is notably driving the perfume market in India. However, factors such as counterfeit products available in the market may impede market growth. The market is segmented by distribution channel (offline and online), and end-user (women and men). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The free sample report is available in PDF format.

Market Dynamics

Key Driver

Replenishing personal grooming is a key factor driving market growth. Personal grooming is the art of keeping your appearance and hygiene in order. A good-looking personality refers to a person's overall appearance, from the cleanliness of his or her clothing to the smell he or she gives off. Aside from presenting a positive image to the public, personal grooming is also helping develop a positive image of oneself. It's a way of encouraging people to be more confident and helping them advance in their careers or improve their love lives. In addition, the use of fragrance plays an important role in the personal grooming process. There are many things about a person's personality and sense of taste and fashion that can be found in his choice of fragrance. With the aid of perfumes, people can create an elaborate aura that surrounds them. Thus, perfumes are personal hygiene products that a lot of people use. Hence, these factors are expected to drive market growth during the forecast period.

Key Segment Analysis

• The market share growth by the offline segment will be significant during the forecast period. Offline channels of distribution include retailers such as department stores, supermarket chains, hypermarkets, and specialty shops. To increase sales through offline channels, manufacturers have expanded their product portfolios in global, regional, and local markets. The term "specialty stores" or "flagship stores" refers to smaller shops serving a single retail market. In these outlets, there is a specific selection of goods and accessories linked to some genre or category. The specialty stores have a large supply on hand for the products they sell. In addition, another place to find perfumes is in department stores, where there are many other goods of consumer goods for sale which may differ from one section to another. Hence, these factors are expected to drive segment growth during the forecast period.

To know additional highlights and key points on various market segments and their impact in coming years, View the free PDF Sample Report.

Company Insights 

The perfume market in India is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market's competitive landscape and offers information on several market companies, including A. A. Attarwala and Co. Pvt. Ltd., ALL GOOD SCENTS, Armaf India, Beiersdorf AG, CavinKare Pvt. Ltd., Emami Ltd., Fragrances Of India, Hindustan Unilever Ltd., Industria de Diseno Textil SA, ITC Ltd., LOreal SA, LVMH Moet Hennessy Louis Vuitton SE, Marico Ltd., McNROE Consumer Products Pvt. Ltd., Natura and Co Holding SA, Oriental Aromatics Ltd., Symrise AG, The Estee Lauder Co. Inc., Toyota Industries Corp., and Vanesa Cosmetics Pvt. Ltd.

View the free PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.

Related Reports

The teeth whitening gels market size is estimated to grow at a CAGR of 3.82% between 2022 and 2027. The market size is forecast to increase by USD 69.41 million.

The tooth whitening kit market size is estimated to grow at a CAGR of 5.93% between 2022 and 2027. The market size is forecast to increase by USD 84.6 million.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Distribution Channel

Market Segmentation by End-user

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio