MarketAnalysis
The global luxuryperfumes market is anticipated to grow at a favorable CAGR between 2019- 2023,
as per the recent analysis by Market Research Future (MRFR). Luxury perfume is
made of different solvents, aromatic compounds, essential oils, and fixatives
that offer a pleasant scent. Eau de cologne (EDC), eau de toilette (EDT), eau
de parfum (EDP), parfum, and others are the different types of luxury perfumes
that are available for women, men, and also as unisex.
Various factors arepropelling the global market growth. According to the latest MRFR analysis,
such factors include the burgeoning demand for unisex perfumes and fragrances,
easy accessibility of luxury perfume through online stores, celebrity
endorsement, the rising influence of social media on people’s shopping habits,
increasing trend to gift luxury perfumes, consumers’ rising expenditure on
luxury goods especially luxury perfumes, and growing brand consciousness.
On the contrary, thehigh price of luxury perfumes coupled with a decline in demand owing to the
ongoing COVID-19 pandemic are factors that may impede the global market growth
over the forecast period.
Key Players
Eminent playersprofiled in the global luxury perfumes market report include Dolce &
Gabbana S.R.L. (Italy), Gianni Versace S.p.A. (Italy), Hannaford Bros. Co., LLC
(US), Louis Vuitton Malletier S.A (France), Clive Christian Perfume Limited
(UK), Ralph Lauren Corporation (US), Hermès International S.A. (France), The
Estée Lauder Companies Inc. (US), Guccio Gucci S.p.A. (Italy), and Chanel S.A.
(France
Market Segmentation
The MRFR report offersan inclusive segmental analysis of the global luxury perfumes market value based
on distribution channel, end user, and product type.
By product type, the luxuryperfumes market size is segmented into eau de cologne (EDC), eau detoilette (EDT), eau de parfum (EDP), parfum, and others. Of these, the eau de
toilette segment will lead the market over the forecast period. Increasing use
as daywear is adding to the growth of the segment. This will be followed by the
eau de parfum segment, which is predicted to grow at a high CAGR.
By end user, theglobal luxury perfumes industry is segmented into unisex, women, and men. Of
these, the women segment will dominate the market over the forecast period.
This will be followed by the unisex segment, which is predicted to grow at a
high CAGR over the forecast period.
By distributionchannel, the global luxury perfumes market is segmented into non-store based
and store-based. The store-based segment is again sub-segmented into specialty
stores, hypermarkets and supermarkets, and others. Of these, the store-based
segment, especially hypermarkets and supermarkets, will have a major share in
the market over the forecast period. Meanwhile, the non-store-based segment is
anticipated to grow at a high CAGR over the forecast period.
RegionalAnalysis
Based on the region,the global luxury perfumes market report covers the growth opportunities and
recent trends across North America, Europe, the Asia Pacific, & the Rest of
the World (RoW). Of these, Europe is predicted to dominate the market over the
forecast period. Technological advances in the media industry, growing retail
industry, consumers’ high purchasing power, and the increasing presence of
luxury perfume brands are adding to the global luxury perfumes market growth in
the region.
The global market inNorth America is predicted to have notable growth over the forecast period. The
increasing popularity of light-scented luxury perfumes amid the millennial,
attractive packaging, premiumization, demand for superior quality premium perfumes regardless of its soaring price, and demandfor personalized products are adding to the global luxury perfumes market
growth in the region.
The global luxuryperfumes market in the APAC region is predicted to grow at a fast pace over the
forecast period. Rising penetration of global market players, rapid
urbanization, and rising prevalence of consumers towards luxury goods such as
luxury perfumes, which reflects an individual personality, is adding to the
global market growth in the region.
The global market inthe RoW is predicted to have sound growth over the forecast period. The rising
popularity of different brands of luxury perfumes among people is adding to the
global market growth in the region.
NOTE: Our Team of Researchers areStudying 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.
Contact us:
Market Research Future (part ofWantstats Research and Media Private Limited), 99 Hudson Street,5Th Floor, New York, New York10013, United States of America
