Market Research Report

Global Fragrances Market Research Report: Forecast (2024-2030)

Fragrances Market Report - By Product Type (Personal Care (Cosmetics, Deodorants & Perfumes), Household Care (Room Fresheners, Bathroom Fresheners), Others (Oral Care, Fabric Care,...etc.)), By Ingredient (Natural, Synthetic), By Distribution Channel (Offline (Hypermarket/ Supermarket, Retail Stores, Others (Convenience Stores, Departmental Stores etc.)), Online), and Others Read more

  • FMCG
  • Apr 2024
  • 197
  • CG33034

Market Definition

Fragrances are natural or synthetic ingredients that provide a unique & pleasant odor when added to products like perfumes, deodorants, candles, mists, cosmetics, soaps, detergents, shampoos, shower gels, shaving creams, and body care products, including lotions, creams, etc. They aid in masking the unpleasant smell of other ingredients in products and thus enhance the overall sensory experience of consumers.

Market Insights & Analysis: Global Fragrances Market (2024-30):

The Global Fragrances Market is poised to grow at a CAGR of around 6.1% during the forecast period, i.e., 2024-30. Most of the market expansion would be propelled by the growing focus of consumers, especially the young generation & millennials, on personal hygiene, coupled with the rising proliferation of aromatherapy practices and the increased spending on beauty & personal care products due to the improving living standards worldwide.

Report Coverage Details
Study Period Historical Data: 2019-22
Base Year: 2023
Forecast Period: 2024-30
CAGR (2024-2030) 6.1%
Regions Covered North America: The US, Canada, Mexico
South America: Brazil, Argentina, Rest of South America
Europe: The UK, Germany, France, Spain, Italy, Russia, Rest of Europe
Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia-Pacific
The Middle East & Africa: Saudi Arabia, The UAE, South Africa, Turkey, Egypt, Rest of the Middle East & Africa
Key Companies Profiled Ajmal Perfumes Pvt. Ltd., Attar Al Has, Chanel S A, Church & Dwight Co. Inc., Estee Lauder Co. Inc., Givaudan SA, Firmenich SA, Hindustan Unilever Limited, International Flavors & Fragrances, Natura & Co., Procter & Gamble Health Ltd., Revlon Inc., SC Johnson & Son Inc., Shanghai Ligan Perfume Cosmetics Co. Ltd., Shiseido Co.Ltd., The Avon Co., The Perfume Company, Others (Burberry Group PLC, Calvin Klein etc.)
Unit Denominations USD Million/Billion

 

Besides, the increasing inclination of consumers toward personal grooming, i.e., making them do experiments with varied fragrance concepts & brands, is another crucial aspect amplifying the popularity & sales of different perfumes & deodorants and, in turn, fueling the overall market growth.

Moreover, perfumes & deodorants have now evolved from a luxury to a daily need as more & more people are showing greater interest in cosmetics and personal care products. Manufacturers are rigorously conducting R&D and massively investing in advertising to understand & influence consumer purchase patterns. Along with this, more & more brands have been launching their online portals to develop & expand their digital footprints and attract a wider audience, thus aiding in creating a positive market outlook.


Global Fragrances Market Research Report: Forecast (2024-2030)

Also, the shift of consumers to fragrances with natural ingredients that do not contain synthetic compounds has instigated fragrance companies to adopt organic practices & naturally-derived materials to cater to varied consumer requirements.

  • In September 2022, Givaudan declared that it has collaborated with LanzaTech to produce sustainable fragrance ingredients using renewable carbon.

The rising demand for personalized home fragrances enriched with natural elements is driving the market's revenue growth. This heightened consumer preference for aesthetically pleasing home scents has prompted major vendors to innovate and diversify their product lines. Other than that, the market has grown as a result of a greater need for natural essential oil-based home fragrances, which is a new market trend.
In addition, the rapidly expanding e-commerce industry, social media penetration, celebrity endorsements, and retailers offering customized products & innovative packaging are all prominently contributing to elevating the Fragrance Market share worldwide, as many individuals prefer to order things like skincare products, cosmetics, cleaners, etc., just sitting at their homes in one click.  

Likewise, the emerging trend of pocket perfumes and the affordable price points of premium deodorants are also shaping the dynamic of the fragrance industry. Hence, as more companies & concepts evolve and mergers & acquisitions are carried out, the Fragrances Market would witness lucrative opportunities to attain an extensive consumer base & yield significant profits in the coming years.

Global Fragrances Market Driver:

Booming Demand for Cosmetics to Upscale the Market Growth Graph – The Fragrances Market is being driven by the growing number of working women & their increased spending on cosmetics. This trend is expected to strengthen fragrance demand alongside the rising interest in personal care products. Additionally, the expanding global population of elderly individuals is driving the demand for anti-aging cosmetic products, many of which include scents in creams, serums, and facial oils. Thus, consumers' willingness to invest in advanced anti-aging treatments to reduce imperfections, wrinkles, and dark spots while enhancing skin tone is further fuelling the demand for fragrances. Consequently, the aging population's tilt toward cosmetic products and the consumers' pursuit of enhanced attractiveness would instigate the Fragrances Market share in the future years.

Global Fragrances Market Challenge:

Shifting Consumer Preferences from Synthetic to Natural Fragrances  One of the most prominent challenges for the Fragrances Market is the growing penetration of sustainable fragrances. As synthetic products currently hold a larger market share than natural fragrances, the increasing number of consumers showing greater interest in organic products is creating a challenge for manufacturers to expand.

Although several brands have launched certified 'natural' products in recent years owing to sustainability trends across different industries, the lack of resources in most countries and the high manufacturing cost remain genuine challenges for the market to propel with natural fragrances.

Hence, the shifting consumer preferences from synthetic fragrances owing to the fear of various skin problems like allergies & darkening caused by harmful ingredients in such products and the less availability of natural fragrances would act as notable growth restraints for the market during 2024-30.

Global Fragrances Market Trend:

Rising Fondness for Natural Fragrances to be a Trend in the Global Market – The Fragrances Market is witnessing a surge in the preference for natural scents obtained from plants, animals, or fruits over synthetic counterparts. This shift is propelled by heightened awareness of the adverse effects of chemical-based fragrances on skin and overall health. Products like deodorants, hair oils, perfumes, and detergents containing synthetic fragrances have been linked to skin irritation upon direct contact. Consequently, there's an expected inclination among consumers towards choosing natural fragrances, a trend poised to positively impact the market.

Global Fragrances Market (2024-30): Segmentation Analysis

The Global Fragrances Market study by MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment and includes predictions for the period 2024–2030 at the global, regional, and national levels. In accordance to the analysis, the market has been further classified as: 

Based on Product Type:

  • Personal Care
    • Cosmetics
    • Deodorants & Perfumes
  • Household
    • Room Fresheners
    • Bathroom Fresheners

Household fragrances are gaining traction worldwide, accounting for the largest share of the Global Fragrances Market. It owes to the mounting emphasis of people on maintaining & enhancing their homes, i.e., leading to the burgeoning sales of candles, mists, and essential oils, among other fragrances, to eliminate unpleasant smells, boost positivity, and improve mental well-being. Diffusers are becoming more & more popular due to their ease of application, instigating fragrance manufacturers to expand their production & distribution capacities to cater to the ever-growing consumer requirements for essential oils & incense sticks. Moreover, the massive demand for candles in both traditional & spiritual practices, coupled with the emerging trend of aromatherapy, are other crucial aspects influencing the Global Fragrances Market size in the projected years.

Based on Ingredient:

  • Natural
  • Synthetic

Fragrances with Natural Ingredients are witnessing an upward demand and are predicted to hold a significant share of the Fragrances Market in the forecast years. This is owing to the mounting consumer awareness regarding environmental degradation across different countries worldwide. Individuals are becoming aware of the fact that chemically-derived perfumes adversely affect their skin & can cause allergies, and thus are showing greater interest in fragrances formulated from natural ingredients like flowers, fruits, saps, seeds, barks, leaves, roots, & resins, among others.

Additionally, fragrances comprising these ingredients are more suitable for people, especially those with sensitive skin, and manufacturers are actively working on introducing such products to cater to the widening user base of natural or organic perfumes & scents. Hence, these aspects project lucrative growth opportunities for the Fragrances Market in the coming years.

Global Fragrances Market (2024-30): Regional Projection

Geographically, the Global Fragrances Market expands across:

  • North America 
  • South America
  • Europe 
  • The Middle East & Africa
  • Asia-Pacific

North America would continue to seize the dominant place in the Fragrances Market with the largest share during 2024-30. The prime aspects projected to contribute to the regional market expansion include the flourishing personal care products & cosmetics industry on account of the increasing consumer spending, coupled with the growing penetration of premium products, especially in the US & Canada. Besides, the extensive availability of different varieties of scents & perfumes and the emerging trend of luxury fragrances, especially among millennials, since they consider these products a status symbol, are other crucial factors that are driving the North America Fragrances Market.

On the other front, Asia-Pacific is also expected to emerge as a rapidly growing Fragrances Market globally in the coming years, with India & China as the major contributors. The rapidly expanding beauty & skincare industries, the rising population rate, and the growing number of working women are infusing the demand for different types of fragrances in China. Many foreign companies are expanding their footprints in the country to cater to the burgeoning consumer requirements for luxury perfumes & fragrances, i.e., driven by the increasing disposable income of individuals. Furthermore, the bloom in naturally-scented fragrances, pocket perfumes, and online sales would also aid in infusing the Asia-Pacific Fragrances Market in the future years.

Global Fragrances Industry Recent Development:

  • 2023: Estee Lauder Companies Inc. has unveiled Beautiful Magnolia L'Eau, a fresh fragrance tailored for women. This new addition to their product line aims to diversify their offerings and drive profitability.
  • 2022: L’Oréal S.A. has reintroduced its high-end beauty label Lancôme in India, planning to offer a range of makeup, fragrances, and skincare items under the Lancôme brand across the country.

Gain a Competitive Edge with Our Global Fragrances Market Report

  1. Global Fragrances Market Report by MarkNtel Advisors provides a detailed & thorough analysis of market size & share, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics & make informed decisions.
  2. This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
  3. Global Fragrances Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.

Frequently Asked Questions

   A. The Global Fragrances Market is expected to record around 6.1% CAGR during 2024-30.

   A. The mounting consumer focus on personal hygiene & grooming and the widening availability of premium deodorants & perfumes at affordable prices are the prime aspects projected to drive the Global Fragrances Market during 2024-30. On the other hand, the shift of consumers from chemically-derived products to organic fragrances is a major growth challenge for the market, i.e., driven primarily by the sales of synthetic fragrances.

   A. Household fragrances are likely to generate profitable prospects to the major companies in the Global Fragrances Market during 2024-30.

   A. Asia-Pacific Fragrances Market would expand at a rapid growth rate and emerge as a promising growth opportunity for the companies operating in the industry over the forecast years.

  1. Market Segmentation
  2. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
  3. Executive Summary
  4. Impact of COVID-19 on Global Fragrances Market
  5. Global Fragrance Market Import Export Analysis, 2019-2030E
  6. Global Fragrances Market Strategic Investments, 2019-2030
  7. Global Fragrances Market Trends & Insights
  8. Global Fragrances Market Dynamics
    1. Drivers
    2. Challenges
  9. Global Fragrances Market Porters Five Forces Analysis
  10. Global Fragrances Market Regulations & Policies
  11. Global Fragrances Market Hotspots & Opportunities
  12. Global Fragrances Market Outlook, 2019-2030
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Volume (In Kilolitre)
    2. Market Share & Analysis
      1. By Product Type
        1. Personal Care
          1. Cosmetics
          2. Deodorants & Perfumes
        2. Household Care
          1. Room Fresheners
          2. Bathroom Fresheners
        3. Others (Oral Care, Fabric Care, etc.)
      2. By Ingredient
        1. Natural
        2. Synthetic
      3. By Distribution Channel
        1. Offline
          1. Hypermarket/ Supermarket
          2. Retail Stores
          3. Others (Convenience Stores, Departmental Stores etc.)
        2. Online
      4. By Region
        1. North America
        2. South America
        3. Europe
        4. Middle East & Africa
        5. Asia Pacific
      5. By Company
        1. Competition Characteristics
        2. Market Share of Leading Companies
  13. North America Fragrances Market Outlook, 2019-2030
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Volume (In Kilolitre)
    2. Market Share & Analysis
      1. By Product Type
      2. By Ingredients
      3. By Distribution Channel
      4. By Country
        1. The US
        2. Canada
        3. Mexico
    3. The US Fragrances Market Outlook, 2019-2030
      1. Market Size & Analysis
        1. By Revenues
        2. By Volume
      2. Market Share & Analysis
        1. By Product Type
        2. By Ingredients
    4. Canada Fragrances Market Outlook, 2019-2030
      1. Market Size & Analysis
        1. By Revenues
        2. By Volume
      2. Market Share & Analysis
        1. By Product Type
        2. By Ingredients
    5. Mexico Fragrances Market Outlook, 2019-2030
      1. Market Size & Analysis
        1. By Revenues
        2. By Volume
      2. Market Share & Analysis
        1. By Product Type
        2. By Ingredients  
  14. South America Fragrances Market Outlook, 2019-2030
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Volume (In Kilolitre)
    2. Market Share & Analysis
      1. By Product Type
      2. By Ingredients
      3. By Distribution Channel
      4. By Country
        1. Brazil
        2. Argentina
        3. Rest of South America
    3. Brazil Fragrances Market Outlook, 2019-2030
      1. Market Size & Analysis
        1. By Revenues
        2. By Volume
      2. Market Share & Analysis
        1. By Product Type
        2. By Ingredients
    4. Argentina Fragrances Market Outlook, 2019-2030
      1. Market Size & Analysis
        1. By Revenues
        2. By Volume
      2. Market Share & Analysis
        1. By Product Type
        2. By Ingredients
  15. Europe Fragrances Market Outlook, 2019-2030
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Volume (In Kilolitre)
    2. Market Share & Analysis
      1. By Product Type
      2. By Ingredients
      3. By Distribution Channel
      4. By Country
        1. Germany
        2. The UK
        3. France
        4. Russia
        5. Spain
        6. Italy
        7. Rest of Europe
    3. Germany Fragrances Market Outlook, 2019-2030
      1. Market Size & Analysis
        1. By Revenues
        2. By Volume
      2. Market Share & Analysis
        1. By Product Type
        2. By Ingredients
    4. The UK Fragrances Market Outlook, 2019-2030
      1. Market Size & Analysis
        1. By Revenues
        2. By Volume
      2. Market Share & Analysis
        1. By Product Type
        2. By Ingredients
    5. France Fragrances Market Outlook, 2019-2030
      1. Market Size & Analysis
        1. By Revenues
        2. By Volume
      2. Market Share & Analysis
        1. By Product Type
        2. By Ingredients
    6. Russia Fragrances Market Outlook, 2019-2030
      1. Market Size & Analysis
        1. By Revenues
        2. By Volume
      2. Market Share & Analysis
        1. By Product Type
        2. By Ingredients
    7. Spain Fragrances Market Outlook, 2019-2030
      1. Market Size & Analysis
        1. By Revenues
        2. By Volume
      2. Market Share & Analysis
        1. By Product Type
        2. By Ingredients
    8. Italy Fragrances Market Outlook, 2019-2030
      1. Market Size & Analysis
        1. By Revenues
        2. By Volume
      2. Market Share & Analysis
        1. By Product Type
        2. By Ingredients
  16. The Middle East & Africa Fragrances Market Outlook, 2019-2030
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Volume (In Kilolitre)
    2. Market Share & Analysis
      1. By Product Type
      2. By Ingredients
      3. By Distribution Channel
      4. By Country
        1. Saudi Arabia
        2. The UAE
        3. Egypt
        4. Turkey
        5. South Africa
        6. Rest of The Middle East & Africa
    3. Saudi Arabia Fragrances Market Outlook, 2019-2030
      1. Market Size & Analysis
        1. By Revenues
        2. By Volume
      2. Market Share & Analysis
        1. By Product Type
        2. By Ingredients
    4. The UAE Fragrances Market Outlook, 2019-2030
      1. Market Size & Analysis
        1. By Revenues
        2. By Volume
      2. Market Share & Analysis
        1. By Product Type
        2. By Ingredients
    5. Egypt Fragrances Market Outlook, 2019-2030
      1. Market Size & Analysis
        1. By Revenues
        2. By Volume
      2. Market Share & Analysis
        1. By Product Type
        2. By Ingredients
    6. Turkey Fragrances Market Outlook, 2019-2030
      1. Market Size & Analysis
        1. By Revenues
        2. By Volume
      2. Market Share & Analysis
        1. By Product Type
        2. By Ingredients
    7. South Africa Fragrances Market Outlook, 2019-2030
      1. Market Size & Analysis
        1. By Revenues
        2. By Volume
      2. Market Share & Analysis
        1. By Product Type
        2. By Ingredients
  17. Asia Pacific Fragrances Market Outlook, 2019-2030
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Volume (In Kilolitre)
    2. Market Share & Analysis
      1. By Product Type
      2. By Ingredients
      3. By Distribution Channel
      4. By Country
        1. China
        2. Japan
        3. India
        4. South Korea
        5. Australia
        6. Rest of Asia Pacific    
    3. China Fragrances Market Outlook, 2019-2030
      1. Market Size & Analysis
        1. By Revenues
        2. By Volume
      2. Market Share & Analysis
        1. By Product Type
        2. By Ingredients
    4. Japan Fragrances Market Outlook, 2019-2030
      1. Market Size & Analysis
        1. By Revenues
        2. By Volume
      2. Market Share & Analysis
        1. By Product Type
        2. By Ingredients
    5. India Fragrances Market Outlook, 2019-2030
      1. Market Size & Analysis
        1. By Revenues
        2. By Volume
      2. Market Share & Analysis
        1. By Product Type
        2. By Ingredients
    6. South Korea Fragrances Market Outlook, 2019-2030
      1. Market Size & Analysis
        1. By Revenues
        2. By Volume
      2. Market Share & Analysis
        1. By Product Type
        2. By Ingredients
    7. Australia Fragrances Market Outlook, 2019-2030
      1. Market Size & Analysis
        1. By Revenues
        2. By Volume
      2. Market Share & Analysis
        1. By Product Type
        2. By Ingredients
  18. Global Fragrances Market Key Strategic Imperatives for Growth & Success
  19. Competition Outlook
    1. Competition Matrix
      1. Brand Specialization
      2. Target Markets
    2. Company Profiles
      1. Ajmal Perfumes Pvt. Ltd.
      2. Attar Al Has
      3. Chanel S A
      4. Church & Dwight Co. Inc.
      5. Estee Lauder Co. Inc.
      6. Givaudan SA
      7. Firmenich SA
      8. Hindustan Unilever Limited
      9. International Flavors & Fragrances
      10. Natura & Co.
      11. Procter & Gamble Health Ltd.
      12. Revlon Inc.
      13. SC Johnson & Son Inc.
      14. Shanghai Ligan Perfume Cosmetics Co. Ltd.
      15. Shiseido Co.Ltd.
      16. The Avon Co.
      17. The Perfume Company
      18. Others (Burberry Group PLC, Calvin Klein etc.)
  20. Disclaimer


Fragrances Market - Segmentation Slide