Global Fragrance (Perfume & Deodorant Market is projected to be valued at USD 85.61 Billion growing at a CAGR of 4.70%, during 2022-27: Bonafide Research

Clifton, New Jersey, May 22, 2023 (GLOBE NEWSWIRE) — The increasing importance placed on smelling good and feeling fresh has boosted the demand for perfumes and deodorants. Consumers have more purchasing power to spend on personal care products like perfumes and deodorants. Innovative product launches, including celebrity-endorsed fragrances, niche perfumes, and long-lasting deodorants, stimulate demand and attract new consumers. Online platforms offer a broad selection, competitive pricing, and easy home delivery, driving the growth of the industry. Men are now more conscious of their personal grooming and use perfumes and deodorants as part of their daily routines, expanding the overall market size. Consumers are looking for products that provide long-lasting freshness and protection against body odor, creating growth opportunities for the industry.

Many trends have evolved in the perfume & deodorant industries. There has been a growing demand for natural and organic perfumes and deodorants that are free from synthetic chemicals and artificial fragrances. The trend of customization and personalization has extended to the perfume industry. Gender-neutral fragrances that appeal to consumers irrespective of their gender identity reflect changing societal norms. Influencers collaborate with brands to promote their products, sharing their experiences and recommendations with their followers. Niche and artisanal fragrance brands have gained popularity among consumers looking for unique and exclusive scents. Aromatherapy-based perfumes and deodorants have gained traction among consumers seeking emotional and mental well-being benefits.

Key Takeaways:

• The demand for perfume is expected to increase in future years at a CAGR of 6.60% for its long-lasting scents and the rise of niche and artisanal fragrance.
• Also, Perfume is a popular gift item for special occasions such as birthdays, anniversaries, and holidays.
• Spray and roll-on deodorants are the major selling types, with a 60% share, as they have been available in the market for a long time and provide quick and efficient coverage.
• Sustainability and environmental concerns have given rise to refilling of perfume & deodorant bottles by global brands like Armani, Muglar, Paco Rabanne, Louis Vuitton, Chanel, Dove, Myro, By Humankind, Native and Ethique
• Online sales of perfumes and deodorants have been steadily growing, driven by the convenience of e-commerce, wider product availability, and personalized online experiences.
• Natural perfumes formulated with plant-based ingredients and essential oils are expected to grow by over USD 15 Billion by 2027 and are perceived as safer and more environmentally friendly.

Get a free sample report: https://www.bonafideresearch.com/samplereport/221119241/global-perfume-market

The perfume and deodorant industry presents several future opportunities for companies to capitalize on. Companies can focus on developing products with eco-friendly packaging, responsibly sourced ingredients, and transparent supply chains to cater to environmentally conscious consumers. Companies can offer personalized fragrance creation services where customers can customize their scents based on their preferences, resulting in a unique and personalized experience. Companies can explore incorporating smart packaging with features like scent release control or interactive elements that enhance the user experience. Companies can focus on enhancing their online presence and leveraging digital marketing strategies. Incorporating natural and organic ingredients highlight the aromatherapy benefits of fragrances, and creating products that promote overall well-being. Targeting countries in Asia, Latin America, and Africa, where there is potential for increased demand for perfumes and deodorants. Collaborating with fashion and beauty brands can provide opportunities for cross-promotion and brand extension. The men’s grooming market continues to grow, presenting opportunities for companies to expand their offerings specifically tailored for men.

“The increasing emphasis on sustainability and reducing plastic waste aligns with the broader movement towards reducing single-use packaging and promoting a more circular economy. Globally companies & various brands has adopted 100% recyclable plastics to reduce plastic waste,” says Mr. Dhwipal Shah, from Bonafide Research. The perfume and deodorant industries are subject to various regulations related to ingredient safety, labeling requirements, and product testing. Factors such as geopolitical uncertainties, trade restrictions, and transportation disruptions can impact the availability and cost of key ingredients and packaging materials, potentially affecting production and distribution capabilities. Companies may face challenges in managing cost volatility and ensuring price stability for their products. The perfume and deodorant industry is susceptible to brand imitation and counterfeiting, particularly for popular and high-end fragrance brands. Failing to anticipate and respond to shifting consumer preferences can result in decreased sales and market share. Refilling perfume & deodorant bottles is indeed a growing trend in the industry as it offers cost savings for consumers in the emerging markets.

It is widely recognized that Eau de Parfum (EDP) is often one of the most popular and highest-selling fragrance concentrations globally. The higher concentration of fragrance oils allows the scent to linger for a longer period of time, enhancing the overall experience for the wearer. They are versatile enough to be suitable for different occasions, ranging from casual everyday wear to special events. Eau de Toilette (EDT) is another widely used product, making it suitable for everyday wear and warmer weather conditions. It is often favored for daytime wear, office settings, and casual outings where a lighter fragrance is desired. EDT fragrances tend to be priced more affordably compared to Eau de Parfum and other higher-concentration fragrances.

To access the complete report: https://www.bonafideresearch.com/product/221119241/global-perfume-market

Natural perfumes align with this preference for clean and green beauty. Synthetic fragrances often contain allergens, irritants, and potential endocrine disruptors. Natural perfumes often offer unique and distinctive scents that differentiate them from mainstream synthetic fragrances. They may be crafted in small batches by artisanal perfumers, using high-quality botanical ingredients and traditional perfume-making techniques. Natural perfumes often align with the principles of clean beauty, as they tend to have simpler formulations and avoid the use of synthetic additives, preservatives, or animal-derived ingredients.

Stick deodorant is convenient for travel and on-the-go use, and it leaves fewer residues on the skin compared to creams or gels. Consumers can choose from options such as antiperspirant sticks, natural or aluminum-free formulas, scented or unscented varieties, and gender-specific or unisex options. They are often formulated with ingredients that help minimize skin irritation and provide gentle protection against body odor. Gel deodorants have gained popularity as they provide a refreshing and lightweight sensation when applied to the skin. These are less likely to leave white marks or stains on clothing compared to some other forms, such as stick deodorants.

Deodorant wipes, while offering convenience and on-the-go application, currently have less market demand compared to other forms of deodorants. These are not as widely available as other forms of deodorants, such as sprays, sticks, or gels. There might be concerns that a single-use wipe may not provide sufficient coverage or long-lasting odor protection, leading to a preference for other forms that offer perceived better results. Deodorant wipes typically offer limited fragrance options, which may not align with the desire for personalization that other deodorant forms can provide.

Get a free sample report: https://www.bonafideresearch.com/samplereport/221119231/global-deodorant-market

Women have been more closely associated with the use of perfumes and deodorants compared to men. Cultural norms and societal expectations have traditionally placed a stronger emphasis on women’s appearance and grooming. The fragrance industry has historically targeted women with extensive marketing and advertising campaigns.

Historically, plastic has been widely used for deodorant packaging due to its durability, versatility, and cost-effectiveness. Different types of plastic, such as high-density polyethylene (HDPE) and polypropylene (PP), are commonly used for deodorant bottles, caps, and roll-on applicators. However, due to growing concerns about plastic waste and environmental impact, there is an increasing focus on reducing plastic usage in packaging. Many stick deodorants now come in eco-friendly packaging options, such as paper tubes or compostable containers, which align with the preferences of environmentally conscious consumers. Gel deodorants are available in various packaging options, including roll-on bottles, squeeze tubes, and applicator sticks. Glass is another packaging material used for deodorants, particularly for higher-end or premium products. Aluminum packaging is commonly used for aerosol spray deodorants. Paperboard tubes or containers, often lined with a protective coating, provide an eco-friendly alternative to traditional plastic packaging. These paper-based options are usually compostable, biodegradable, or made from recycled materials, reducing the environmental impact. Some deodorant brands are exploring innovative packaging solutions that combine different materials. For example, a deodorant container might feature a plastic body with a removable aluminum cap or a glass bottle with a plastic or aluminum applicator. These combinations aim to strike a balance between functionality, aesthetics, and sustainability.

Traditionally, the sale of perfumes and deodorants has been dominated by offline sales channels, such as brick-and-mortar stores and department stores. Physical stores allow customers to smell and sample different scents and make informed purchase decisions. Sampling is an important part of the fragrance buying process, as it allows customers to assess how the scent interacts with their body chemistry and evaluate the longevity and development of the fragrance over time.

To access the complete report: https://www.bonafideresearch.com/product/221119231/global-deodorant-market

Europe has a rich heritage in fragrance production and perfumery. Countries like France, Italy, and the United Kingdom have long-standing traditions and expertise in creating high-quality perfumes and fragrances. Europe is renowned for its fashion and luxury industries, which often intersect with the perfume and fragrance markets. The cultural appreciation for fragrance has contributed to sustained demand for perfumes and deodorants in the European market. France is widely recognized as a crucial market for perfumes and holds a prominent position in the global fragrance industry. France is often regarded as the birthplace of modern perfumery. Perfume-making techniques, expertise, and craftsmanship have been passed down through generations, establishing France as a hub for fragrance creation and innovation. Brands such as Chanel, Dior, Guerlain, and Hermès, among others, have their origins in France and continue to shape the perfume industry with their iconic fragrances. France attracts perfume enthusiasts from around the world, who visit the country specifically to explore its rich perfume heritage. Regions such as Grasse in Provence, known as the perfume capital of the world, offer perfume-related attractions, including perfume museums, perfume workshops, and fields of fragrant flowers. Perfume tourism further contributes to the country’s importance in the perfume industry. France is a major exporter of perfumes, distributing its fragrances globally.

The U.S. fragrance market has a significant influence and contributes to the industry’s overall growth. The country’s large population and consumer spending power make it an attractive market for fragrance companies. Companies like Estée Lauder, Coty, Procter & Gamble, and L’Oréal have a significant market share in the fragrance industry. American companies invest in research and development to create new scents, formulations, and packaging designs that cater to consumer preferences. The United States has a thriving celebrity and designer fragrance segment. It is observed that women in the U.S. purchase a new perfume as often as once a month, in comparison to men, who buy it an average of 1-2 times per year. As per a survey, around 41% of females in the U.S. use perfume every day as compared to men. It’s reported that 299.85 million Americans used deodorant or antiperspirants in 2021.

Brazilians have a strong beauty and personal care culture, with a focus on grooming and self-expression. Fragrances are highly valued in Brazilian society, with many individuals considering them an essential part of their daily routines. The country is known for its production of raw materials used in perfumery, such as essential oils and botanical extracts. Brazil has a tropical climate in many regions, characterized by high temperatures and humidity. Deodorants are particularly important in such climates to combat body odor and provide freshness.

The growing influence of Western culture, along with increased exposure to global trends through travel, media, and the internet, has contributed to the rising demand for deodorants and perfumes in the Asia Pacific region. Urban dwellers often have higher incomes and more exposure to global trends, leading to increased demand for personal care products, including deodorants and perfumes. The need to smell good and increasing temperatures in some parts of the APAC region will further drive demand for perfumes & deodorants in the forecast period.

The popularity of Ittar has led to a saturated market for natural perfumes in some areas of the MEA region. Local Ittar manufacturers and sellers have established themselves over generations and have a loyal customer base. This can make it difficult for commercial perfume and deodorant brands to enter the market and gain traction among consumers who are already loyal to traditional fragrances. The commercial perfume and deodorant industry must navigate regulatory considerations related to Ittar and other traditional fragrances in the MEA region. Increasing consumer knowledge about different fragrance options, the availability of diverse scents, and the craftsmanship behind commercial perfumes can help bridge the gap between traditional and commercial fragrance preferences.

Considered in the Report

•   Geography: Global
•   Historic Year: 2016
•   Base year: 2021
•   Estimated year: 2022
•   Forecast year: 2027

To buy the research report: https://www.bonafideresearch.com/buy-now/221119241

Related Reports:

Gender equality? Indeed, the male grooming market will be equivalent to female grooming in the future: Bonafide Research. India’s Men’s Grooming Market is expected to grow with a CAGR of more than 11% during 2027-28, with more than 31000 INR Crore market size. The men’s fragrance market is the major contributor to the total men’s grooming market in the year 2021-22. In the skincare market, face wash is expected to have the highest CAGR of over 19% by 2027-28. Mammoths like Hindustan Unilever, L’Oréal, Nivea, and Marico are cutting benefits as Indian men get aware of their hair, and beard, and the sky is the limit from there.

Organized deodorant and perfume players to dominate the fragrance industry in India by 2022: Bonafide Research. The fragrance market in India has been on a high, in terms of production, consumption, import as well as export, and is in the process of growing exceptionally with more youngsters wearing fragrances. Youngsters are infusing perfumes and deodorants into their daily personal grooming routine. India’s Fragrance Market is set to grow extraordinarily and reach a total market size of around INR 20,000 crore by 2027.

Healthy biscuits low on sugar & salt while loaded with nuts are projected to drive the India Biscuits market at a CAGR of 5.53%. Increasing indulgence, health concerns, and familiarity with luxurious taste, which has developed among Indian consumers, have led Indian manufacturers to experiment with a variety of biscuits and cookies. This has also led to higher growth in the premium segment compared to the economic and mid segments of the industry. Mondelez India launched various biscuit segments under the brand name Bournvita Crunchy and has planned more launches across Bournvita and Oreo brands.

Contact us:

Steven Thomas – Sales & Marketing Manager
E-mail: [email protected]
Asia-Pacific: +91 7878231309
Europe: +44 20 8089 0049
North America: +1 201 793 8545 
https://www.bonafideresearch.com/

About us:

Bonafide Research is the fastest growing global market research and consulting company, providing syndicated research reports, customized research reports, and consulting services to a range of verticals. They have been closely working with a wide client base ranging from Fortune 1000 companies to small and medium enterprises, helping them track the constantly changing market scenario. Bonafide has continuously made efforts to evolve and enhance the report quality with each passing day. Bonafide Research has a strong base of analysts and consultants from assorted areas of expertise who track the latest economic, demographic, trade, and market data globally and help clients make informed business decisions. They periodically update their market research studies to ensure that their clients get the most recent, relevant, actionable, and valuable information for strategy development and to extract tangible results.