The global luxury perfume market is worth US$ 12.74 Billion as of now and is expected to reach US$ 23.26 Billion by the year 2033 at a CAGR of 6.2% between 2023 and 2033.
With luxury perfumes being easily available in the online mode, the global luxury perfume market is expected to grow on an invincible note in the forecast period.
Besides, the fact that the present generation is getting tremendously influenced by social media can’t be ignored. With numerous celebrities and youtubers endorsing luxury perfumes, there is nothing to look back for the generation. There are online platforms like Parfumdreams, Flaconi Retail dedicated especially toward luxury perfume.
Another trend is that of majority of millennial women preferring natural ingredients-based luxury perfumes.
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Additionally, unisex perfumes are being asked for; wherein luxurious classic fragrance is being asked for. The fragrances preferred include orange flavor, pink pepper, and cedarwood. Saudi Arabia, Kuwait, and Mexico are contributing toward revenue on this count.
Future Market Insights has walked through these facts with insights in its latest market study entitled ‘Luxury Perfume Market’. It has its line of expertise in the form of analysts and consultants to deploy a 360-degree view in its primary, secondary, and tertiary modes of research.
“With Generation Z showing more keenness regarding luxury brands, the global luxury perfume market is bound to witness substantiation in the forecast period”, says an analyst from Future Market Insights.
Key Takeaways from Luxury Perfume Market
- North America holds the largest market share. This could be attributed to the US being home to various luxury brands.
- The Asia-Pacific is expected to grow at the fastest rate in the luxury perfume market going forward. This could be reasoned with FDI facilitating an influx of several international brands herein.
- Europe is expected to grow on an extensive note in the luxury perfume market going forward on the back of France leading from the front. The status quo is expected to remain unchanged even in the forecast period.
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Competitively Luxury Perfume
- Coty Inc., in November 2022, tabled the very first refillable perfume called ‘Chloe Rose Naturelle Intense’. The refillable bottles are contributing toward reduction in environmental impacts across all the product life cycle assessment indicators.
- Estee Lauder, in September 2021, put forth a novel collection of luxury perfumes abreast with 8 fragrances. It has been reported that these perfumes do last for 12 hours post-onetime application due to ‘ScentCapture Fragrance Extender’ – a new technology from Estee.
- TiL, a beauty brand, in collaboration with Francis Kurkdjian, derived a perfume named ‘Eau-De-Toilette L-Eau-Qui-Enlace’. The inspiration is drawn from Linden tree.
- Ralph Lauren, in April 2019, came up with Ralph Lauren Woman Eau de Parfum Intense. It’s a new ‘woody florential type’ in the product range of Ralph Lauren Woman.
- Maison Louis Vuitton, in April 2019, did announce launching 3 new ‘eaux de parfum, Sun Song’, ‘Afternoon Swim’, and ‘Cactus Garden’.
What does the Report state?
- The research study is based on end-user (male, female, and unisex), by price (below US$ 50, US$50 – US$ 100, US$ 100 – US$ 200, and above US$ 200), and by sales channel (supermarkets/hypermarkets, specialty stores, departmental stores, multi-brand stores, online retailers, direct sales, and other sales channels).
- With millennials more into adoption of luxury goods, the global luxury perfume market is expected to grow on an exorbitant note going forward.
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Key Segments
By End Users Type:
- Female
- Male
- Unisex
By Price:
- Below US$ 50
- US$ 50 – US$ 100
- US$ 100 – US$ 200
- Above US$ 200
By Sales Channel:
- Hypermarkets/Supermarkets
- Specialty Stores
- Departmental Stores
- Multi-brand Stores
- Online Retailers
- Direct Sales
- Other Sales Channel
By Region:
- North America
- USA & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- EU5
- Nordics
- Benelux
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- India
- ASEAN
- Rest of Asia Pacific
- Japan
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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