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Global Fragrance Market: Analysis By Nature (Natural, and Synthetic); By Type (Premium, and Mass); By Application (Personal Care, Household Care, and Others); By Distribution Channel (Offline, and Online); By Region Size, and Trends with Impact of COVID-19 and Forecast up to 2027

October 2022 | 182 pages | ID: GB9870591D0BEN
Daedal Research

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In 2021, the global fragrance market was valued at US$35.08 billion and is anticipated to grow to US$57.60 billion by 2027. Fragrances are substances that contain strong-smelling organic compounds with distinct, pleasant odors. These are complex mixtures of natural and man-made compounds that are added to a variety of consumer products to give them a distinctive aroma. Fragrance can be any aroma that one enjoys, such as perfume, flowers, or food. These are used in products for a variety of reasons to enhance the user experience.

Fragrances can satisfy emotional demands and communicate notions like cleanliness, freshness, and softness, as well as serve to relieve stress and promote well-being. They provide a distinct sensation of well-being and empowerment, and are frequently seen as uplifting, accompanying customers from the beginning to the end of their day. Some of the major reasons why consumers are buying fragrances are the growing awareness of skincare & cosmetic products, increasing demand for hygiene products, and inclination towards fitness and health. The fragrance market is expected to grow at a CAGR of 8.73% over the forecast period of 2022-2027.

Market Segmentation Analysis:

By Nature: The report provides the bifurcation of the fragrance market into two segments based on nature: Natural, and Synthetic. In 2021, the synthetic segment lead the fragrance market, accounting for more than 60% share of the market, owing to the less intensive labor work, surging consumption patterns of consumers, and lower cost of raw materials. The Natural fragrance market is expected to grow at the highest CAGR due to the rise in awareness on usage of natural fragrances & low toxicity of these compounds.

By Type: In the report, the global fragrance market is divided into two segments based on the type: Premium, and Mass. The premium segment is expected to grow at a CAGR of more than 10% owing to the increasing awareness about personal hygiene, people's higher living standards, and growing popularity among young people. The premium fragrance market and mass fragrance market are further bifurcated into three segments based on gender: Men, Female, and Unisex. The female segment held the highest share in both the markets.

By Application: The report provides the segmentation of the fragrance market on the basis of application: Personal Care, Household Care, and Others. In 2021, the personal care segment dominated the market by holding more than 65% of the market share. Increasing consumer awareness for hygiene due to rising chronic diseases and importance of healthcare, rising popularity of beauty & personal care products, improving quality of life, advantageous results of beauty & personal care on self-esteem led to the increase in personal care fragrance market.

By Distribution Channel: In the report, the global fragrance market is divided into two segments based on the distribution channel: Online, and Offline. The offline segment dominated the market in 2021 with almost 80% share of the global market. The online segment is expected to grow at the CAGR of more than 20% during the forecast period, as it saves time for both buyers and retailers while also providing a high level of comfort to consumers, as they don’t have to bear the hassles of traffic or getting ready while shopping online.

By Region: The global fragrance market can be divided into five regions: Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. The Asia Pacific dominated the market in 2021 by holding more than 40% share of the global market. The rise in the per capita income of the consumers, the entry of new market players, and innovation in packaging techniques are the key factors driving the Asia Pacific fragrance market.

The US is the leading fragrance market within the North America region, because of increasing online vendors, rising adoption of personalised fragrance products, growing Gen-Z consumers, and rising demand for organic fragrance products.

In the report, Europe fragrance market & the US fragrance market are further bifurcated based on the nature (Natural, and Synthetic) and the type (Premium, and Mass).

Global Fragrance Market Dynamics:

Growth Drivers: One of the most important factors impacting fragrance market dynamics is surging Gen Z and millennial population. Younger consumers and millennials are getting more inclined towards personal grooming and are ready to experiment with new concepts and brands. With growing disposable income and greater exposure to foreign lifestyle trends, young generation are investing in good grooming and the market for fragrances has boomed as a result. Furthermore, the market has been growing over the past few years, due to factors such as rapid urbanization, accelerating e-commerce channels, growing awareness of skincare & cosmetic products, rising trend towards fitness and health, and increasing demand for hygiene products, etc.

Challenges: However, the market has been confronted with some challenges specifically, increased availability of counterfeit products, high usage of chemicals, etc. The fragrance market is constantly vulnerable to counterfeits, particularly in the fast developing market of “smell-alike” designer-inspired fragrances because these prompt the identification of the methods that classify their quality. Counterfeits can lead not only to the loss of profit for honest producers but also have a negative impact on consumers who pay prices for poor quality goods that may result in health or safety problems.

Trends: The market is projected to grow at a fast pace during the forecast period, due to various latest trends such growing influence & impact of social media, product innovations by manufacturers, increasing popularity of aromatherapy, increasing preference for scented candles, surging demand for eco-friendly fragrance products, increasing preference for customized fragrance, technological advancement, etc. Personalized products make the brand stand out and creates brand loyalty. It makes customers feel special because the brand is taking their interests into account. Many companies are offering the option to customize perfumes, fragrances, scented candles, etc. There are fragrances that are customized to match an individual’s exacting DNA, to the fragrances that simply match the exact preference of an individual, as well as producing packaging with personalized touch such as the person’s signatures or preferences for specific bottle designs.

Impact Analysis of COVID-19 and Way Forward:

In 2020, several industries had shut down production activities in response to the emergence of COVID-19. Various small scale and major companies faced difficulties in conducting their production, operating their business thoroughly, and issues faced with R&D operations owing to the shortage of labor and raw material which hampered market growth. However, as the market condition improved and people's disposable income increased, so did their preference for various types of fragrance items, resulting in the market expansion.

Competitive Landscape:

The global fragrance market is fragmented, with the presence of large number of small- and medium-sized suppliers in the market.

The key players of the global fragrance market are
  • Estee Lauder Companies Inc.
  • The Procter & Gamble Company
  • Henkel AG & Co. KGaA
  • Unilever PLC
  • Coty Inc.
  • L'Or?al S.A.
  • Firmenich International SA
  • Givaudan S.A.
  • Avon Products, Inc.
  • LVMH
  • Shiseido
  • Symrise AG
  • Chanel International B.V.
  • Giorgio Armani S.p.A.
Some of the strategies among key players in the market for fragrance are product launches, mergers, acquisitions, and collaborations. In 2022, Givaudan S.A. collaborated with TMIC to launch fragrance industry’s first AI-powered fragrance co-creation service. The unique co-creation model allows brands to get deeply involved in the fragrance creation process. Through the visual touch screen, customers are able to quickly realise their olfactory vision. Whereas, In 2022, Avon Products, Inc. introduced a unique white Oud accord fragrance. This luminous White Oud accord heart is complemented by the rich fruitiness of black splendour plums, a bouquet of white floral gardenias and finished with warm, creamy vanilla.
1. EXECUTIVE SUMMARY

2. INTRODUCTION

2.1 Fragrance: An Overview
2.2 Fragrance Segmentation: An Overview
  2.2.1 Fragrance Segmentation

3. GLOBAL MARKET ANALYSIS

3.1 Global Fragrance Market: An Analysis
  3.1.1 Global Fragrance Market: An Overview
  3.1.2 Global Fragrance Market by Value
  3.1.3 Global Fragrance Market by Nature (Natural, and Synthetic)
  3.1.4 Global Fragrance Market by Type (Premium, and Mass)
  3.1.5 Global Fragrance Market by Application (Personal Care, Household Care, and Others)
  3.1.6 Global Fragrance Market by Distribution Channel (Offline, and Online)
  3.1.7 Global Fragrance Market by Region (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa)
3.2 Global Fragrance Market: Nature Analysis
  3.2.1 Global Fragrance Market by Nature: An Overview
  3.2.2 Global Natural Fragrance Market by Value
  3.2.3 Global Synthetic Fragrance Market by Value
3.3 Global Fragrance Market: Type Analysis
  3.3.1 Global Fragrance Market by Type: An Overview
  3.3.2 Global Premium Fragrance Market by Value
  3.3.3 Global Premium Fragrance Market by Gender (Women, Men, and Unisex)
  3.3.4 Global Mass Fragrance Market by Value
  3.3.5 Global Mass Fragrance Market by Gender (Women, Men, and Unisex)
3.4 Global Fragrance Market: Application Analysis
  3.4.1 Global Fragrance Market by Application: An Overview
  3.4.2 Global Personal Care Fragrance Market by Value
  3.4.3 Global Household Care Fragrance Market by Value
  3.4.4 Global Other Fragrance Market by Value
3.5 Global Fragrance Market: Distribution Channel Analysis
  3.5.1 Global Fragrance Market by Distribution Channel: An Overview
  3.5.2 Global Offline Fragrance Market by Value
  3.5.3 Global Online Fragrance Market by Value

4. REGIONAL MARKET ANALYSIS

4.1 Asia Pacific Fragrance Market: An Analysis
  4.1.1 Asia Pacific Fragrance Market: An Overview
  4.1.2 Asia Pacific Fragrance Market by Value
  4.1.3 Asia Pacific Fragrance Market by Region (China, India, and Rest of the Asia Pacific)
  4.1.4 China Fragrance Market by Value
  4.1.5 India Fragrance Market by Value
  4.1.6 Rest of Asia Pacific Fragrance Market by Value
4.2 North America Fragrance Market: An Analysis
  4.2.1 North America Fragrance Market: An Overview
  4.2.2 North America Fragrance Market by Value
  4.2.3 North America Fragrance Market by Region (The US, Canada, and Mexico)
  4.2.4 The US Fragrance Market by Value
  4.2.5 The US Fragrance Market by Nature (Natural, and Synthetic)
  4.2.6 The US Natural Fragrance Market by Value
  4.2.7 The US Synthetic Fragrance Market by Value
  4.2.8 The US Fragrance Market by Type (Premium, and Mass)
  4.2.9 The US Premium Fragrance Market by Value
  4.2.10 The US Mass Fragrance Market by Value
  4.2.11 Canada Fragrance Market by Value
  4.2.12 Mexico Fragrance Market by Value
4.3 Europe Fragrance Market: An Analysis
  4.3.1 Europe Fragrance Market: An Overview
  4.3.2 Europe Fragrance Market by Value
  4.3.3 Europe Fragrance Market by Nature (Natural, and Synthetic)
  4.3.4 Europe Natural Fragrance Market by Value
  4.3.5 Europe Synthetic Fragrance Market by Value
  4.3.6 Europe Fragrance Market by Type (Premium, and Mass)
  4.3.7 Europe Premium Fragrance Market by Value
  4.3.8 Europe Mass Fragrance Market by Value
  4.3.9 Europe Fragrance Market by Region (France, UK, Germany, Spain, Italy, and the Rest of Europe)
  4.3.10 France Fragrance Market by Value
  4.3.11 UK Fragrance Market by Value
  4.3.12 Germany Fragrance Market by Value
  4.3.13 Spain Fragrance Market by Value
  4.3.14 Italy Fragrance Market by Value
  4.3.15 Rest Of Europe Fragrance Market by Value
4.4 Latin America Fragrance Market: An Analysis
  4.4.1 Latin America Fragrance Market: An Overview
  4.4.2 Latin America Fragrance Market by Value
4.5 Middle East & Africa Fragrance Market: An Analysis
  4.5.1 Middle East & Africa Fragrance Market: An Overview
  4.5.2 Middle East & Africa Fragrance Market by Value

5. IMPACT OF COVID-19

5.1 Impact of COVID-19 on Fragrance Market
5.2 Post COVID-19 Impact on Fragrance Market

6. MARKET DYNAMICS

6.1 Growth Drivers
  6.1.1 Rapid Urbanization
  6.1.2 Accelerating E-Commerce Channels
  6.1.3 Surging Gen Z and Millennial Population
  6.1.4 Growing Awareness of Skincare & Cosmetic Products
  6.1.5 Inclination towards Fitness and Health
  6.1.6 Increasing Demand for Hygiene Products
6.2 Challenges
  6.2.1 Increased Availability of Counterfeit Products
  6.2.2 High Usage of Chemicals
6.3 Market Trends
  6.3.1 Growing Influence & Impact of Social Media
  6.3.2 Product Innovation by Manufacturers
  6.3.3 Increasing Popularity of Aromatherapy
  6.3.4 Increasing Preference for Scented Candles
  6.3.5 Surging Demand for Eco-Friendly Fragrance Products
  6.3.6 Increasing Preference for Customized Fragrance
  6.3.7 Technological Advancement

7. COMPETITIVE LANDSCAPE

7.1 Global Fragrance Players by Market Share
7.2 Global Fragrance Players by Revenue CAGR

8. COMPANY PROFILES

8.1 Estee Lauder Companies Inc.
  8.1.1 Business Overview
  8.1.2 Net Sales By Product Category
  8.1.3 Business Strategy
8.2 The Procter & Gamble Company
  8.2.1 Business Overview
  8.2.2 Operating Segments
  8.2.3 Business Strategy
8.3 Henkel AG & Co. KGaA
  8.3.1 Business Overview
  8.3.2 Operating Segments
  8.3.3 Business Strategy
8.4 Unilever PLC
  8.4.1 Business Overview
  8.4.2 Operating Segments
  8.4.3 Business Strategy
8.5 Coty Inc.
  8.5.1 Business Overview
  8.5.2 Operating Segments
  8.5.3 Business Strategy
8.6 L'Or?al S.A.
  8.6.1 Business Overview
  8.6.2 Operating Segments
  8.6.3 Business Strategy
8.7 Firmenich International SA
  8.7.1 Business Overview
  8.7.2 Operating Segments
  8.7.3 Business Strategy
8.8 Givaudan S.A.
  8.8.1 Business Overview
  8.8.2 Operating Segments
  8.8.3 Business Strategy
8.9 Avon Products, Inc.
  8.9.1 Business Overview
  8.9.2 Operating Segments
  8.9.3 Business Strategy
8.10 LVMH
  8.10.1 Business Overview
  8.10.2 Operating Business Group
  8.10.3 Business Strategy
8.11 Shiseido
  8.11.1 Business Overview
  8.11.2 Operating Segments
  8.11.3 Business Strategy
8.12 Symrise AG
  8.12.1 Business Overview
  8.12.2 Operating Segments
  8.12.3 Business Strategy
8.13 Chanel International B.V.
  8.13.1 Business Overview
  8.13.2 Operating Regions
  8.13.3 Business Strategy
8.14 Giorgio Armani S.p.A.
  8.14.1 Business Overview
  8.14.2 Business Strategy

LIST OF FIGURES

Figure 1: Fragrance Segmentation
Figure 2: Global Fragrance Market by Value; 2017-2021 (US$ Billion)
Figure 3: Global Fragrance Market by Value; 2022-2027 (US$ Billion)
Figure 4: Global Fragrance Market by Nature; 2021 (Percentage, %)
Figure 5: Global Fragrance Market by Type; 2021 (Percentage, %)
Figure 6: Global Fragrance Market by Application; 2021 (Percentage, %)
Figure 7: Global Fragrance Market by Distribution Channel; 2021 (Percentage, %)
Figure 8: Global Fragrance Market by Region; 2021 (Percentage, %)
Figure 9: Global Natural Fragrance Market by Value; 2017-2021 (US$ Billion)
Figure 10: Global Natural Fragrance Market by Value; 2022-2027 (US$ Billion)
Figure 11: Global Synthetic Fragrance Market by Value; 2017-2021 (US$ Billion)
Figure 12: Global Synthetic Fragrance Market by Value; 2022-2027 (US$ Billion)
Figure 13: Global Premium Fragrance Market by Value; 2017-2021 (US$ Billion)
Figure 14: Global Premium Fragrance Market by Value; 2022-2027 (US$ Billion)
Figure 15: Global Premium Fragrance Market by Gender; 2021 (Percentage, %)
Figure 16: Global Mass Fragrance Market by Value; 2017-2021 (US$ Billion)
Figure 17: Global Mass Fragrance Market by Value; 2022-2027 (US$ Billion)
Figure 18: Global Mass Fragrance Market by Gender; 2021 (Percentage, %)
Figure 19: Global Personal Care Fragrance Market by Value; 2017-2021 (US$ Billion)
Figure 20: Global Personal Care Fragrance Market by Value; 2022-2027 (US$ Billion)
Figure 21: Global Household Care Fragrance Market by Value; 2017-2021 (US$ Billion)
Figure 22: Global Household Care Fragrance Market by Value; 2022-2027 (US$ Billion)
Figure 23: Global Other Fragrance Market by Value; 2017-2021 (US$ Billion)
Figure 24: Global Other Fragrance Market by Value; 2022-2027 (US$ Billion)
Figure 25: Global Offline Fragrance Market by Value; 2017-2021 (US$ Billion)
Figure 26: Global Offline Fragrance Market by Value; 2022-2027 (US$ Billion)
Figure 27: Global Online Fragrance Market by Value; 2017-2021 (US$ Billion)
Figure 28: Global Online Fragrance Market by Value; 2022-2027 (US$ Billion)
Figure 29: Asia Pacific Fragrance Market by Value; 2017-2021 (US$ Billion)
Figure 30: Asia Pacific Fragrance Market by Value; 2022-2027 (US$ Billion)
Figure 31: Asia Pacific Fragrance Market by Region; 2021 (Percentage, %)
Figure 32: China Fragrance Market by Value; 2017-2021 (US$ Billion)
Figure 33: China Fragrance Market by Value; 2022-2027 (US$ Billion)
Figure 34: India Fragrance Market by Value; 2017-2021 (US$ Million)
Figure 35: India Fragrance Market by Value; 2022-2027 (US$ Billion)
Figure 36: Rest of Asia Pacific Fragrance Market by Value; 2017-2021 (US$ Billion)
Figure 37: Rest of Asia Pacific Fragrance Market by Value; 2022-2027 (US$ Billion)
Figure 38: North America Fragrance Market by Value; 2017-2021 (US$ Billion)
Figure 39: North America Fragrance Market by Value; 2022-2027 (US$ Billion)
Figure 40: North America Fragrance Market by Region; 2021 (Percentage, %)
Figure 41: The US Fragrance Market by Value; 2017-2021 (US$ Billion)
Figure 42: The US Fragrance Market by Value; 2022-2027 (US$ Billion)
Figure 43: The US Fragrance Market by Nature; 2021 (Percentage, %)
Figure 44: The US Natural Fragrance Market by Value; 2017-2021 (US$ Billion)
Figure 45: The US Natural Fragrance Market by Value; 2022-2027 (US$ Billion)
Figure 46: The US Synthetic Fragrance Market by Value; 2017-2021 (US$ Billion)
Figure 47: The US Synthetic Fragrance Market by Value; 2022-2027 (US$ Billion)
Figure 48: The US Fragrance Market by Type; 2021 (Percentage, %)
Figure 49: The US Premium Fragrance Market by Value; 2017-2021 (US$ Billion)
Figure 50: The US Premium Fragrance Market by Value; 2022-2027 (US$ Billion)
Figure 51: The US Mass Fragrance Market by Value; 2017-2021 (US$ Billion)
Figure 52: The US Mass Fragrance Market by Value; 2022-2027 (US$ Billion)
Figure 53: Canada Fragrance Market by Value; 2017-2021 (US$ Million)
Figure 54: Canada Fragrance Market by Value; 2022-2027 (US$ Billion)
Figure 55: Mexico Fragrance Market by Value; 2017-2021 (US$ Million)
Figure 56: Mexico Fragrance Market by Value; 2022-2027 (US$ Million)
Figure 57: Europe Fragrance Market by Value; 2017-2021 (US$ Billion)
Figure 58: Europe Fragrance Market by Value; 2022-2027 (US$ Billion)
Figure 59: Europe Fragrance Market by Nature; 2021 (Percentage, %)
Figure 60: Europe Natural Fragrance Market by Value; 2017-2021 (US$ Billion)
Figure 61: Europe Natural Fragrance Market by Value; 2022-2027 (US$ Billion)
Figure 62: Europe Synthetic Fragrance Market by Value; 2017-2021 (US$ Billion)
Figure 63: Europe Synthetic Fragrance Market by Value; 2022-2027 (US$ Billion)
Figure 64: Europe Fragrance Market by Type; 2021 (Percentage, %)
Figure 65: Europe Premium Fragrance Market by Value; 2017-2021 (US$ Billion)
Figure 66: Europe Premium Fragrance Market by Value; 2022-2027 (US$ Billion)
Figure 67: Europe Mass Fragrance Market by Value; 2017-2021 (US$ Billion)
Figure 68: Europe Mass Fragrance Market by Value; 2022-2027 (US$ Billion)
Figure 69: Europe Fragrance Market by Region; 2021 (Percentage, %)
Figure 70: France Fragrance Market by Value; 2017-2021 (US$ Billion)
Figure 71: France Fragrance Market by Value; 2022-2027 (US$ Billion)
Figure 72: UK Fragrance Market by Value; 2017-2021 (US$ Billion)
Figure 73: UK Fragrance Market by Value; 2022-2027 (US$ Billion)
Figure 74: Germany Fragrance Market by Value; 2017-2021 (US$ Billion)
Figure 75: Germany Fragrance Market by Value; 2022-2027 (US$ Billion)
Figure 76: Spain Fragrance Market by Value; 2017-2021 (US$ Million)
Figure 77: Spain Fragrance Market by Value; 2022-2027 (US$ Billion)
Figure 78: Italy Fragrance Market by Value; 2017-2021 (US$ Million)
Figure 79: Italy Fragrance Market by Value; 2022-2027 (US$ Billion)
Figure 80: Rest Of Europe Fragrance Market by Value; 2017-2021 (US$ Billion)
Figure 81: Rest Of Europe Fragrance Market by Value; 2022-2027 (US$ Billion)
Figure 82: Latin America Fragrance Market by Value; 2017-2021 (US$ Billion)
Figure 83: Latin America Fragrance Market by Value; 2022-2027 (US$ Billion)
Figure 84: Middle East & Africa Fragrance Market by Value; 2017-2021 (US$ Billion)
Figure 85: Middle East & Africa Fragrance Market by Value; 2022-2027 (US$ Billion)
Figure 86: Global Urban Population; 2016-2021 (Billion and Percentage, %)
Figure 87: Global Retail E-Commerce Sales; 2018-2025 (US$ Trillion)
Figure 88: Global Population by Age Group; 2019-2021 (Million)
Figure 89: Global Social Media Users; 2019-2027 (Billion)
Figure 90: Global Fragrance Players by Market Share; 2021 (Percentage, %)
Figure 91: Global Fragrance Players by Revenue CAGR; 2021-2024 (Percentage, %)
Figure 92: Estee Lauder Companies Inc. Net Sales By Product Category; 2022 (Percentage, %)
Figure 93: The Procter & Gamble Company Net Sales by Segment; 2021 (Percentage, %)
Figure 94: Henkel AG & Co. KGaA Sales by Segment; 2021 (Percentage, %)
Figure 95: Unilever PLC Turnover By Operating Segment; 2021 (Percentage, %)
Figure 96: Coty Inc. Net Revenues by Segment; 2022 (Percentage, %)
Figure 97: L'Or?al S.A. Sales by Business Segments; 2021 (Percentage, %)
Figure 98: Firmenich International SA Revenue by Operating Segments; 2022 (Percentage, %)
Figure 99: Givaudan S.A. Sales by Segments; 2021 (Percentage, %)
Figure 100: Avon Products, Inc. Total Revenue by Segment; 2021 (Percentage, %)
Figure 101: LVMH Revenue by Business Group; 2021 (Percentage, %)
Figure 102: Shiseido Net Sales by Segment; 2021 (Percentage, %)
Figure 103: Symrise AG Sales by Segments; 2021 (Percentage, %)
Figure 104: Chanel International B.V. Revenue by Regions; 2021 (Percentage, %)


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