Research Nester assesses the growth and market size of the global fragrance & perfume market which is anticipated to be on account of the growing importance of good-smelling house and personal hygiene
New York – January 10, 2024 - Research Nester’s recent market research analysis on “Fragrance & Perfume Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitors analysis and a detailed overview of the global fragrance & perfume market in terms of market segmentation by product type, consumer group, distribution channel, and by region.
Growing Demand for Scented Home Décor Products to Promote Global Market Share of Fragrance & Perfume
The global fragrance & perfume market is estimated to grow majorly on account of the growing demand for aromatic household items such as room fresheners, scented candles, scented bath salts, and scented and fabric deodorants. The rise in home renovation and home décor activities has raised the demand for scented items in the residential sector. Because of its medicinal properties, scented candles are commonly used in commercial establishments such as spas. Personal care and perfumes are seen as a vital part of a consumer's lifestyle by many. The capacity of perfumes and scented candles to improve the general look and feel of any surrounding environment, not simply living rooms and restrooms. They have also entered other spheres such as autos, offices, spas, and restaurants.
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Besides this, the growing demand for luxury perfumes is further boosting the market growth. High-end scent sales began to soar throughout the outbreak and have continued to rise over the last year. While sales of other luxury items, particularly more accessible, entry-level items, have slowed slightly as the economic outlook has deteriorated, demand for fragrances and eau de toilettes has remained high.
Some of the major growth factors and challenges that are associated with the growth of the global fragrance & perfume market are:
Growth Drivers:
• Surge in the Luxury Perfume Demand
• Growing Popularity of Scented Candles
Challenges:
A perfume is composed of thousands of different chemicals, such as volatile organic molecules. There are around 4000 ingredients that can be combined in the development of a perfume. Scented items consume roughly twice as much as vehicle fuel. This means that, in comparison, indoor pollution has become a higher danger to manage and contributes significantly to air pollution. Because these products evaporate quickly, their VOCs are released into the atmosphere. Therefore, air pollution caused by the fragrance and perfume industry is hindering the growth of the market. On the other hand, what was once seen to be a terrific product for presenting is now thought to be a risky, or even lazy, gift idea by customers is yet another factor hampering the market growth.
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By consumer group, the global fragrance & perfume market is segmented into women, men, and unisex. The women segment is to garner a highest revenue by the end of 2036 by growing at a significant CAGR over the forecast period. Improving economic status of women and growing women empowerment is the primary reason of the segment’s growth.
By region, the North America fragrance & perfume market is to generate the highest revenue by the end of 2036. The growth of the market can be attributed majorly to the rising demand for perfumes and sources of fragrances in the region. As per the survey conducted in the United States, around 42% of people wear perfume and fragrances every day of their lives. Perfume is one of the most selling beauty products in the United States. Moreover, the total sale of women’s perfumes, cologne, and body powder was around USD 500 million in the countries of North America. In addition to this, Dove and Old Spice were the leading deodorant brands in that year, with sales totaling approximately 847 million US dollars and 666 million US dollars, respectively.

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This report also provides the existing competitive scenario of some of the key players of the global fragrance & perfume market which includes company profiling of The Avon Company, CHANEL, Coty Inc., LVMH Moet Hennessy-Louis Vuitton, The Estée Lauder Companies, Revlon, L'Oréal Groupe, Givaudan, Hermès, and KERING
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