Perfume Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 – 2032
The Global Perfume Market, valued at USD 58 billion in 2023, is projected to grow at a CAGR of 6% from 2024 to 2032. Increasing consumer awareness around personal grooming and hygiene has turned perfumes into an essential part of daily routines across various demographics. This is particularly evident in urban areas, where personal presentation is prioritized. Perfumes, once considered a luxury for special occasions, are now viewed as a daily necessity, enhancing personal appeal and confidence. This shift reflects a wider cultural emphasis on self-care, which drives up demand for fragrances across various consumer groups.
A strong trend toward premiumization is also shaping the market, with consumers seeking high-end, niche fragrances that offer exclusive branding and unique scents. This desire for individuality and personalized experiences is pushing consumers toward fragrances that reflect their style and identity. Rising disposable incomes, particularly in emerging markets, are accelerating this trend, as middle-class consumers are increasingly willing to spend more on luxury personal care products, including perfumes. The Perfume Market is segmented by product type into Eau De Toilette (EDT), Parfum, Eau De Parfum (EDP), Eau De Cologne (EDC), and others.
In 2023, the Eau De Parfum segment led the market with USD 13.8 billion in revenue and is predicted to grow at a CAGR of 5% through 2032. The popularity of EDP can be attributed to its balance of concentration and longevity, offering a rich and lasting scent that appeals to consumers seeking both quality and value. EDPs provide a potent fragrance that lasts longer compared to EDT or EDC, making them a preferred choice for consumers looking for a more impactful fragrance experience. In terms of distribution channels, the offline segment dominated in 2023, accounting for 73% of the market share and expected to grow at a CAGR of 3.7% during the forecast period. Consumers favor offline channels due to the wide selection and opportunity to review products before purchasing.The expansion of organized retail has also supported this segment’s growth, offering visibility and space for brands to showcase their products. Europe held the largest market share in 2023, generating USD 18.6 billion in revenue and is projected to grow at a CAGR of 6.2%. Looking forward, the Asia Pacific region is expected to see the fastest growth in the market.
A strong trend toward premiumization is also shaping the market, with consumers seeking high-end, niche fragrances that offer exclusive branding and unique scents. This desire for individuality and personalized experiences is pushing consumers toward fragrances that reflect their style and identity. Rising disposable incomes, particularly in emerging markets, are accelerating this trend, as middle-class consumers are increasingly willing to spend more on luxury personal care products, including perfumes. The Perfume Market is segmented by product type into Eau De Toilette (EDT), Parfum, Eau De Parfum (EDP), Eau De Cologne (EDC), and others.
In 2023, the Eau De Parfum segment led the market with USD 13.8 billion in revenue and is predicted to grow at a CAGR of 5% through 2032. The popularity of EDP can be attributed to its balance of concentration and longevity, offering a rich and lasting scent that appeals to consumers seeking both quality and value. EDPs provide a potent fragrance that lasts longer compared to EDT or EDC, making them a preferred choice for consumers looking for a more impactful fragrance experience. In terms of distribution channels, the offline segment dominated in 2023, accounting for 73% of the market share and expected to grow at a CAGR of 3.7% during the forecast period. Consumers favor offline channels due to the wide selection and opportunity to review products before purchasing.The expansion of organized retail has also supported this segment’s growth, offering visibility and space for brands to showcase their products. Europe held the largest market share in 2023, generating USD 18.6 billion in revenue and is projected to grow at a CAGR of 6.2%. Looking forward, the Asia Pacific region is expected to see the fastest growth in the market.
Report Content
CHAPTER 1 METHODOLOGY & SCOPE
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast parameters
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
CHAPTER 2 EXECUTIVE SUMMARY
2.1 Industry 360° synopsis, 2021 - 2032
CHAPTER 3 INDUSTRY INSIGHTS
3.1 Industry ecosystem analysis
3.1.1 Factors affecting the value chain
3.1.2 Profit margin analysis
3.1.3 Disruptions
3.1.4 Future outlook
3.1.5 Manufacturers
3.1.6 Distributors
3.1.7 Retailers
3.2 Impact forces
3.2.1 Growth drivers
3.2.1.1 Increasing awareness of personal grooming
3.2.1.2 Rising disposable income and consumer spending
3.2.1.3 Celebrity and influencer endorsements
3.2.2 Industry pitfalls & challenges
3.2.2.1 Counterfeit products
3.2.2.2 Changing consumer preferences
3.3 Technology & innovation landscape
3.4 Consumer buying behavior analysis
3.4.1 Demographic trends
3.4.2 Factors affecting buying decision
3.4.3 Consumer product adoption
3.4.4 Preferred distribution channel
3.5 Growth potential analysis
3.6 Regulatory landscape
3.7 Pricing analysis
3.8 Porter’s analysis
3.9 PESTEL analysis
CHAPTER 4 COMPETITIVE LANDSCAPE, 2023
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
CHAPTER 5 MARKET ESTIMATES & FORECAST, BY PRODUCT TYPE, 2021 – 2032, (USD BILLION) (MILLION UNITS)
5.1 Key trends
5.2 Parfum or De Parfum
5.3 Eau De Parfum (EDP)
5.4 Eau De Toilette (EDT)
5.5 Eau De Cologne (EDC)
5.6 Other (Eau Fraiche, Perfume Oil)
CHAPTER 6 MARKET ESTIMATES & FORECAST, BY SCENT PROFILE, 2021 – 2032, (USD BILLION) (THOUSAND UNITS)
6.1 Key trends
6.2 Floral
6.3 Oriental
6.4 Woody
6.5 Fresh
6.6 Others (Gourmand, Fruity etc.)
CHAPTER 7 MARKET ESTIMATES & FORECAST, BY CONSUMER GROUP, 2021 – 2032, (USD BILLION) (THOUSAND UNITS)
7.1 Key trends
7.2 Men
7.3 Women
7.4 Unisex
CHAPTER 8 MARKET ESTIMATES & FORECAST, BY PRICE, 2021 – 2032, (USD BILLION) (THOUSAND UNITS)
8.1 Key trends
8.2 Low
8.3 Medium
8.4 High
CHAPTER 9 MARKET ESTIMATES & FORECAST, BY DISTRIBUTION CHANNEL, 2021 – 2032, (USD BILLION) (THOUSAND UNITS)
9.1 Key trends
9.2 Online
9.2.1 E-commerce Platforms
9.2.2 Company Website
9.3 Offline
9.3.1 Department Stores/ Specialty Stores
9.3.2 Supermarkets/Hypermarkets
9.3.3 Pharmacies/Drugstores
CHAPTER 10 MARKET ESTIMATES & FORECAST, BY REGION, 2021 – 2032, (USD BILLION) (MILLION UNITS)
10.1 Key trends
10.2 North America
10.2.1 U.S.
10.2.2 Canada
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 France
10.3.4 Italy
10.3.5 Spain
10.4 Asia Pacific
10.4.1 China
10.4.2 India
10.4.3 Japan
10.4.4 South Korea
10.4.5 Australia
10.4.6 Malaysia
10.4.7 Indonesia
10.5 Latin America
10.5.1 Brazil
10.5.2 Mexico
10.6 MEA
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 South Africa
CHAPTER 11 COMPANY PROFILES (BUSINESS OVERVIEW, FINANCIAL DATA, PRODUCT LANDSCAPE, STRATEGIC OUTLOOK, SWOT ANALYSIS)
11.1 Avon Company
11.2 CHANEL
11.3 Coty Inc.
11.4 Estйe Lauder Companies
11.5 Givaudan
11.6 Hermиs
11.7 KERING
11.8 L'Orйal Groupe
11.9 LVMH Moet Hennessy-Louis Vuitton
11.10 Puig
11.11 Revlon
11.12 Shiseido Company, Ltd.
CHAPTER 1 METHODOLOGY & SCOPE
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast parameters
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
CHAPTER 2 EXECUTIVE SUMMARY
2.1 Industry 360° synopsis, 2021 - 2032
CHAPTER 3 INDUSTRY INSIGHTS
3.1 Industry ecosystem analysis
3.1.1 Factors affecting the value chain
3.1.2 Profit margin analysis
3.1.3 Disruptions
3.1.4 Future outlook
3.1.5 Manufacturers
3.1.6 Distributors
3.1.7 Retailers
3.2 Impact forces
3.2.1 Growth drivers
3.2.1.1 Increasing awareness of personal grooming
3.2.1.2 Rising disposable income and consumer spending
3.2.1.3 Celebrity and influencer endorsements
3.2.2 Industry pitfalls & challenges
3.2.2.1 Counterfeit products
3.2.2.2 Changing consumer preferences
3.3 Technology & innovation landscape
3.4 Consumer buying behavior analysis
3.4.1 Demographic trends
3.4.2 Factors affecting buying decision
3.4.3 Consumer product adoption
3.4.4 Preferred distribution channel
3.5 Growth potential analysis
3.6 Regulatory landscape
3.7 Pricing analysis
3.8 Porter’s analysis
3.9 PESTEL analysis
CHAPTER 4 COMPETITIVE LANDSCAPE, 2023
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
CHAPTER 5 MARKET ESTIMATES & FORECAST, BY PRODUCT TYPE, 2021 – 2032, (USD BILLION) (MILLION UNITS)
5.1 Key trends
5.2 Parfum or De Parfum
5.3 Eau De Parfum (EDP)
5.4 Eau De Toilette (EDT)
5.5 Eau De Cologne (EDC)
5.6 Other (Eau Fraiche, Perfume Oil)
CHAPTER 6 MARKET ESTIMATES & FORECAST, BY SCENT PROFILE, 2021 – 2032, (USD BILLION) (THOUSAND UNITS)
6.1 Key trends
6.2 Floral
6.3 Oriental
6.4 Woody
6.5 Fresh
6.6 Others (Gourmand, Fruity etc.)
CHAPTER 7 MARKET ESTIMATES & FORECAST, BY CONSUMER GROUP, 2021 – 2032, (USD BILLION) (THOUSAND UNITS)
7.1 Key trends
7.2 Men
7.3 Women
7.4 Unisex
CHAPTER 8 MARKET ESTIMATES & FORECAST, BY PRICE, 2021 – 2032, (USD BILLION) (THOUSAND UNITS)
8.1 Key trends
8.2 Low
8.3 Medium
8.4 High
CHAPTER 9 MARKET ESTIMATES & FORECAST, BY DISTRIBUTION CHANNEL, 2021 – 2032, (USD BILLION) (THOUSAND UNITS)
9.1 Key trends
9.2 Online
9.2.1 E-commerce Platforms
9.2.2 Company Website
9.3 Offline
9.3.1 Department Stores/ Specialty Stores
9.3.2 Supermarkets/Hypermarkets
9.3.3 Pharmacies/Drugstores
CHAPTER 10 MARKET ESTIMATES & FORECAST, BY REGION, 2021 – 2032, (USD BILLION) (MILLION UNITS)
10.1 Key trends
10.2 North America
10.2.1 U.S.
10.2.2 Canada
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 France
10.3.4 Italy
10.3.5 Spain
10.4 Asia Pacific
10.4.1 China
10.4.2 India
10.4.3 Japan
10.4.4 South Korea
10.4.5 Australia
10.4.6 Malaysia
10.4.7 Indonesia
10.5 Latin America
10.5.1 Brazil
10.5.2 Mexico
10.6 MEA
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 South Africa
CHAPTER 11 COMPANY PROFILES (BUSINESS OVERVIEW, FINANCIAL DATA, PRODUCT LANDSCAPE, STRATEGIC OUTLOOK, SWOT ANALYSIS)
11.1 Avon Company
11.2 CHANEL
11.3 Coty Inc.
11.4 Estйe Lauder Companies
11.5 Givaudan
11.6 Hermиs
11.7 KERING
11.8 L'Orйal Groupe
11.9 LVMH Moet Hennessy-Louis Vuitton
11.10 Puig
11.11 Revlon
11.12 Shiseido Company, Ltd.
