Fragrance & Perfume Industry Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

This Report covers Perfume & Fragrance Market Analysis and is Segmented by Product Type (Parfum or De Parfum, Eau De Parfum, Eau De Toilette, Eau De Cologne, and Other Product Types), Consumer Group (Men, Women, and Unisex), Distribution Channel (Online Retail Stores and Offline Retails Stores), and Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The report provides market size and forecasts in terms of value in USD million for the above segments.

Fragrance & Perfume Market Size

Fragrance And Perfume Market Summary
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Study Period 2018 - 2028
Base Year For Estimation 2022
CAGR 5.56 %
Fastest Growing Market Asia Pacific
Largest Market Europe
Market Concentration Low

Major Players

Fragrances and Perfumes Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Fragrance & Perfume Market Analysis

The fragrances and perfumes market is projected to register a CAGR of 5.56% during the upcoming five years.

Perfumes and fragrances have been used by people since ancient times. They have been evolving continuously since their origin. Fragrances and perfumes contribute to personal hygiene, aromatherapy, confidence boosting, and many more. Fragrances and perfumes have improved the grooming habits of individuals and have become essential products of day-to-day life. Perfumes are beneficial for people working in fashion industries and offices and in day-to-day life as well since it boosts confidence, hide unpleasant body odors, and indicate the individuality of a person. According to LMVH's annual report 2021, sales of perfumes and cosmetics grew by 26% in 2021.

The growth of the fragrances and perfumes market is primarily influenced by unpredictable and continuously changing fashion trends. Thus, key market players are focusing on developing exciting, unique, and new fragrances to attract different consumer groups worldwide. The rising popularity of lighter-scented products, especially among the millennial population, and the availability of affordable body splashes, body mists, and cologne body sprays are expected to boost the sales of perfume and fragrance products in developed economies. Companies compete on different factors, including product offerings, prices, ingredients, and marketing activities, to gain a competitive advantage in the market. Some of the other prominent players in the market are Shiseido Co. Ltd, Revlon Inc., Chanel SA, Hermès International SA, and Avon Products Inc.

Fragrance & Perfume Market Trends

This section covers the major market trends shaping the Fragrances & Perfumes Market according to our research experts:

Increasing Expenditure on Advertisement and Promotion

R&D and advertisements are driving the growth of the market studied. Key players are investing in these factors to influence consumer purchase decisions. The rising influence of social media and celebrity endorsement impacts the advertisement strategies adopted by key market players. With the rise in online sales, cosmetics and perfume retailers are increasingly adding images and videos to boost the sales of perfumes and fragrances. Some online cosmetics retailers also offer the possibility to customize their perfumes and fragrances. Thus, the key market players heavily invest in advertisement and promotion to attract consumers through new innovations. For instance, in December 2021, YSL beauty, a brand of Loreal, launched the scent station. This technology works based on neuroscience and chooses the perfume for consumers according to their emotions. This helps consumers in better decision-making while purchasing perfumes. Furthermore, the market is expected to witness significant growth in sales of artisanal and custom fragrance products over the next five years, owing to the increasing expenditure on advertisement and promotion.

Fragrances and Perfumes Market: L'Oral's Advertising and Promotion Expenses, in USD Million, Global, 2018-2021

Asia-Pacific Emerges as the Fastest-growing Market

Asian countries, such as China, Japan, South Korea, Indonesia, Malaysia, Singapore, and others, are the major contributors in making Asia-Pacific the fastest-growing market in the fragrances and perfumes market. Lately, pocket perfumes and mini and travel sizes perfumes have risen in popularity because they are convenient to carry around and can be used on the go. For instance, in October 2021, Kanelle launched its fragrance range, Scentsationally You, in India. The fragrance is available in five different scents on the brand’s e-commerce store with a range of sizes that includes full-size and mini bottles and several product options. Furthermore, China is one of the world’s hotspots and fastest-changing beauty markets. It is experiencing burgeoning demand for luxury perfume and fragrances. This has led to an increasing number of foreign manufacturers expanding their footprints in the Chinese market. The growth in organized retail and the emergence of a young urban population in Indian cities, with increasing disposable income, mounting aspirations, changing lifestyles, increased affordability for lifestyle-oriented and luxury products, and greater product choice and availability, given the growth of the e-commerce market in the country, are the main drivers boosting the demand for fragrance and perfumes in the region.

Fragrances and Perfumes Market: Market Size (%), By Geography Global, 2021

Fragrance & Perfume Industry Overview

The fragrances and perfumes market is highly competitive and comprises international and regional competitors. Chanel SA, Dolce & Gabbana, LVMH Moët Hennessy Louis Vuitton, Burberry Group PLC, and PVH Corp dominate the market with the help of major strategies that include acquisitions, expansions, and product launches. The rest of the market is occupied by small players who specifically manufacture various personal care and cosmetics products. Companies compete on different factors, including product offerings, price, ingredients, and marketing activities, in order to gain a competitive advantage in the market. Key players are focusing on online distribution channels for the online marketing and branding of their products to attract more customers.

Fragrance & Perfume Market Leaders

  1. Burberry Group PLC

  2. Chanel SA

  3. PVH Corp.

  4. LVMH Moët Hennessy Louis Vuitton

  5. Dolce & Gabbana

*Disclaimer: Major Players sorted in no particular order

Fragrance And Perfume Market Concentration

Fragrance & Perfume Market News

  • November 2022: Coty Inc. launched the first ever refillable perfume Chloé Rose Naturelle Intense. Its refillable bottles demonstrated reduced environmental impacts across Product Life Cycle Assessment indicators.
  • July 2022: Chanel SA launched Gabrielle Chanel Eau de Parfum and Gabrielle Chanel Essence Twist & Spray. The Eau de Parfum is exclusively available online, while the Essence Twist and Spray are available in domestic markets and select global travel retail locations.
  • January 2022: Coty Inc. announced that it had started production of the world’s first globally distributed fragrances made using carbon-captured ethanol.

Fragrance & Perfume Market Report - Table of Contents


    1. 1.1 Study Deliverables and Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry


    1. 5.1 Product Type

      1. 5.1.1 Parfum or De Parfum

      2. 5.1.2 Eau De Parfum (EDP)

      3. 5.1.3 Eau De Toilette (EDT)

      4. 5.1.4 Eau De Cologne (EDC)

      5. 5.1.5 Other Product Types

    2. 5.2 Consumer Group

      1. 5.2.1 Men

      2. 5.2.2 Women

      3. 5.2.3 Unisex

    3. 5.3 Distribution Channel

      1. 5.3.1 Offline Retail Stores

        1. Supermarkets/Hypermarkets

        2. Specialty Stores

        3. Convenience Stores

        4. Other Offline Retail Stores

      2. 5.3.2 Online Retail Stores

    4. 5.4 Geography

      1. 5.4.1 North America

        1. United States

        2. Canada

        3. Mexico

        4. Rest of North America

      2. 5.4.2 Europe

        1. Germany

        2. United Kingdom

        3. Spain

        4. France

        5. Italy

        6. Russia

        7. Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. China

        2. Japan

        3. India

        4. Australia

        5. Rest of Asia-Pacific

      4. 5.4.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.4.5 Middle East and Africa

        1. South Africa

        2. Saudi Arabia

        3. Rest of Middle East and Africa


    1. 6.1 Most Adopted Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Dolce & Gabbana S.r.l.

      2. 6.3.2 Burberry Group PLC

      3. 6.3.3 PVH Corp.

      4. 6.3.4 Chanel SA

      5. 6.3.5 Coty Inc.

      6. 6.3.6 Kering SA

      7. 6.3.7 The Estée Lauder Companies Inc.

      8. 6.3.8 LVMH Moët Hennessy Louis Vuitton

      9. 6.3.9 L'Oréal SA

      10. 6.3.10 Natura Cosmeticos SA

    4. *List Not Exhaustive

**Subject to Availability

Fragrance & Perfume Industry Segmentation

A fragrance is a blend of organic substances that gives out a distinct odor. It is a liquid concoction used to create a pleasant scent. It is produced from synthetic aromatic compounds or spicy essential oils extracted from plants and spices.

The fragrance and perfumes market is segmented into product type, consumer group, distribution channel, and geography. By product type, the market is segmented into parfum or de parfum, eau de parfum (EDP), eau de toilette (EDT), eau de cologne (EDC), and other product types. By consumer group, the market is segmented into men, women, and unisex. By distribution channel, the market is segmented into online retail stores and offline retail stores. The offline retail store segment is further sub-segmented into supermarkets/hypermarkets, specialty stores, convenience stores, and other offline retail stores. The market is segmented by geography into North America, Europe, Asia-Pacific, South America, and Middle East and Africa. For each segment, the market sizing and forecasts are provided on the basis of value in USD million.

Product Type
Parfum or De Parfum
Eau De Parfum (EDP)
Eau De Toilette (EDT)
Eau De Cologne (EDC)
Other Product Types
Consumer Group
Distribution Channel
Offline Retail Stores
Specialty Stores
Convenience Stores
Other Offline Retail Stores
Online Retail Stores
North America
United States
Rest of North America
United Kingdom
Rest of Europe
Rest of Asia-Pacific
South America
Rest of South America
Middle East and Africa
South Africa
Saudi Arabia
Rest of Middle East and Africa

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Fragrance & Perfume Market Research FAQs

The Fragrances and Perfumes Market is projected to register a CAGR of 5.56% during the forecast period (2023-2028).

Burberry Group PLC, Chanel SA, PVH Corp., LVMH Moët Hennessy Louis Vuitton and Dolce & Gabbana are the major companies operating in the Fragrances and Perfumes Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2028).

In 2023, the Europe accounts for the largest market share in the Fragrances and Perfumes Market.

Perfume & Fragrances Industry Report

Statistics for the 2023 Perfume & Fragrances market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Perfume & Fragrances analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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