Market Size – USD 34.44 Billion in 2020, Market Growth – at a CAGR of 4.1%
NEW YORK CITY, NEW YORK, USA, July 19, 2022 /EINPresswire.com/ -- The global perfume market size is expected to reach USD 46.93 Billion in 2028 and register a revenue CAGR of 4.1% over the forecast period, according to the latest report by Reports and Data. Rising demand for premium and exotic perfumes, owing to rising trend of personal grooming is expected to drive market revenue growth in the near future. In addition, increasing purchasing power and rising demand for perfumes among young population are expected to contribute to market revenue growth in the forthcoming years.
Perfumes are generally made up of a variety of aromas and chemicals to produce a pleasant odor. The cosmetics industry is growing as a result of inclining demand for cosmetics products, which is expected to drive market growth. Perfumes are becoming more important for personal care. Various companies around the world are trying to produce innovative products in order to meet customers’ demand. Longevity of perfumes is one of the most significant consumer demands. As a result, delivering a long-lasting perfume is an important component in producing a positive consumer response.
Demand for perfumes is expected to rise as a result of introduction of organic and innovative products by various manufactures. In developing countries, consumer income has grown, thereby resulting in greater purchasing power for various personal care and cosmetics products for improvement of health & hygiene. Growing working-class population and rising use of beauty items are projected to drive demand for perfumes. In the upcoming years, such factors are expected to further propel perfume market revenue growth. However, adverse effects of perfumes due to the presence of toxic ingredients and rising demand for alternatives to perfumes are factors that could restrain market growth to a certain extent over the forecast period.
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Top Profiled in the Global Perfume Market Report:
• L\'Oréal S.A
• Unilever plc
• Coty Inc
• Puig SL
• Avon Products, Inc.,
• The Procter & Gamble Company
Market Segmentation:
Product Outlook (Revenue, USD Billion; 2018-2028)
• Mass Perfume
• Premium Perfume
Distribution Channel Outlook (Revenue, USD Billion; 2018-2028)
• Online
• Offline
End-use Outlook (Revenue, USD Billion; 2018-2028)
• Men
• Women
• Unisex
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Key Takeaways of the Global Perfume Market Report:
• A comprehensive overview of the global Perfume industry.
• Accurate market projections in terms of market size, share, and volume.
• Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
• Deep-dive analysis of the upcoming market trends.
• Qualitative and quantitative analyses of the global Perfume Market.
• Elaborate study of the leading regional markets in the global Perfume Market.
• Complete overview of the market’s competitive landscape.
• Brief look at the company profiles and portfolios.
Key Regional Markets Covered in the Report:
• North America
o U.S.
o Canada
o Mexico
• Europe
o Russia
o U.K.
o Germany
o France
o BENELUX
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Rest of Asia Pacific
• Latin America
o Brazil
o Rest of Latin America
• Middle East & Africa
o Saudi Arabia
o U.A.E.
o Israel
o Rest of Middle East & Africa
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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
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