Report Description
A recent market
intelligence report that is published by Data Insights Partner on the
global Fragrances Market makes an
offering of in-depth analysis of segments and sub-segments in the regional and
international Fragrances Market. The research also emphasizes on the impact of restraints,
drivers, and macro indicators on the regional and global Fragrances
Market over the short as
well as long period of time. A detailed presentation of forecast, trends, and
dollar values of global Fragrances Market is offered. In accordance with the report, the global
Fragrances Market is projected to
expand by healthy CAGR over the period
of forecast.
Market Insight, Drivers, Restraints,
Opportunity & Trends of the Market:
Definition
A
chemical admixture comprising of an odor is called fragrance. Fragrances
consists of olfactive properties. Various species like bergamot, conifer
raisin, myrtle, coriander, and almonds, herbs and flowers are used to obtain
fragrances. Fragrances are commonly applied in human body, living spaces and
many more. In western countries, in the context of human body, fragrances are applied
in the warm parts of the body for the continuous emission of scents.
Market Drivers
The
tendency of grooming has gained momentum among all gender types. Fragrances are
an essential part of day-to-day grooming. Personal care and appearances play a
vital role in boosting confidence, securing pride and reliance on self.
Moreover, the need to adhere to appropriate dressing and outlook in the
corporate sector is of high importance. All these factors are fueling the
growth of the fragrances market.
Self-awareness
and physical fitness are gaining importance among the population. This in turn
is raising the number of gym-goers which is increasing the need for body-odor
controlling products and boosting the fragrance market.
The
interconnection between factors like transitioning lifestyle patterns, rapid
urbanization especially in the developing regions, increasing disposable
income, and upsurge in the middle-class population plays a vital role in
accelerating the demand for luxurious products like fragrances for daily use.
The
soaring participation of females in the working population has initiated the
demand for cosmetics products which is positively affecting the fragrances
market.
The
leading players of the fragrances market has adopted visually alluring packaging
with the aim of luring consumers to increase demand for fragrances. Further,
the marketing and promotional techniques including celebrity endorsement of the
products are augmenting the growth of the fragrances market.
Rapid
Urbanization has also generated the demand for fragrances that can be used in
homes with the aim of providing better homey feeling to the houses which is
propelling the growth of the fragrances market.
Market Restraints
The
fragrance products of some of the leading players in the global market
comprises of a premium price which is negatively affecting the consumer base of
the fragrances market.
Many
local companies have the tendency to counterfeit the actual fragrance products
produced by global players which is hindering the growth of the fragrances
market.
Fragrances
comprises of synthetic aromas and also other chemical components which is
averse to the human health and is threatening the fragrances market.
Fragrances
generally come in fragile bottles like bottles made of glass which is not
portable friendly and must be handled with care and this factor is further
disrupting the growth of the fragrance market.
Opportunities
The
rising awareness of the consumers with respect to grooming coupled with the
increasing purchasing power of the consumers around the globe is expected to
generate a never-ending path ahead for the fragrance market.
The
increasing penetration of internet and social media platforms is expected to
offer lucrative opportunities to this market. The rising cases of lifestyle
blogging is expected to propel the growth of this market in the coming years.
Trends
At
present North America dominates the market for fragrances and is expected to
continue its domination in the forecast period. Such progress can be
attributable to the presence of some of dominant players of this market in this
region, the location of significant population that are much concerned with
regard to their appearances and the launch of new fragrance products in this
region. Asia Pacific is expected to emerge as the fastest growing region in the
fragrance market on account of the presence of constantly developing economies
like India and China. Globally, the fragrances market is expected to grow at a
CAGR of around 5.5% in the forecast period.
Segment Covered:
This market
intelligence report on the global Fragrances Market encompasses market segments based on product type,
ingredient, category and country.
By
Product Type the global Fragrances Market has been divided into:
q Eau de
Parfum
q Eau de
Toilette
q Eau de
Cologne
q Eau
Fraiche
q Others
By Ingredient the global Fragrances
Market has been divided into:
q Synthetic
q Natural
By Category the global Fragrances Market has been divided
into:
q Men
q Women
q Unisex
By country/region,
the global Fragrances Market has been divided into:
q North
America (the U.S., Canada),
q Latin
America (Brazil, Mexico, Argentina and other countries),
q Europe
(Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia
Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle
East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market
Players:
This business
intelligence report offers profiling of reputed companies that are operating in
the market. Companies such as:
q Creed
Boutique LLC
q CHANEL
International B.V.
q Unilever
q L’Oreal
S.A.
q International
Flavors & Fragrances Inc
q The
Estee Lauder Companies Inc
q Coty UK
q Givaudan
q Proctor
& Gamble Prestige Beauty
q Avon
Products Inc
others have been
profiled into detail so as to offer a glimpse of the market leaders. Moreover,
parameters such as Fragrances Market related investment & spending and developments by
major players of the market are tracked in this global report.
Report Highlights:
In-depth
analysis of the micro and macro indicators, market trends, and forecasts of
demand is offered by this business intelligence report. Furthermore, the report
offers a vivid picture of the factors that are steering and restraining the
growth of this market across all geographical segments. In addition to that, IGR-Growth
Matrix analysis is also provided in the report so as to share insight of the
investment areas that new or existing market players can take into consideration.
Various analytical tools such as DRO analysis, Porter's five forces analysis has
been used in this report to present a clear picture of the market. The study
focuses on the present market trends and provides market forecast from the year
2020-2028. Emerging trends that would shape the market demand in the years to
come have been highlighted in this report. A competitive analysis in each of
the geographical segments gives an insight into market share of the global
players.
Few Recent Developments
Creed Boutique LLC
In October 2018,
Creed Boutique LLC collaborated with Berkeley Beauty Brands Pvt. Ltd. with the
aim of opening up a maiden store in India.
CHANEL International B.V.
In October 2018,
the limited edition of red bottles N.5 was launched by CHANEL
International B.V.
Unilever
In February
2019, Deodorant Wipes was launched by Unilever. It is a pre-moistened,
alcohol-free product constituting a package with built-in-lids to balance the
freshness of the last wipe.
Salient Features:
Ø
This study offers
comprehensive yet detailed analysis of the Fragrances
Market, size of the market (US$ Mn), and Compound
Annual Growth Rate (CAGR (%)) for the period of forecast: 2020-2028, taking
into account 2019 as the base year
Ø
It explains upcoming
revenue opportunities across various market segments and attractive matrix of
investment proposition for the said market
Ø
This market
intelligence report also offers pivotal insights about various market opportunities,
restraints, drivers, competitive market strategies of leading market players,
emerging market trends, and regional outlook
Ø
Profiling of
key market players in the world Fragrances Market is done by
taking into account various parameters such as company strategies, distribution
strategies, product portfolio, financial performance, key developments,
geographical presence, and company overview
Ø
The data of
this report would allow management authorities and marketers of companies alike
to take informed decision when it comes to launch of Type of models, government
initiatives, marketing tactics and expansion, and technical up gradation
Ø
The world
market for Fragrances caters to the needs of various stakeholders pertaining to this
industry, namely suppliers, manufacturers, investors, and distributors for Fragrances
Market. The research also caters to the rising needs
of consulting and research firms, financial analysts, and new market entrants
Ø
Research
methodologies that have been adopted for the purpose of this study have been
clearly elaborated so as to facilitate better understanding of the reports
Ø
Reports have
been made based on the guidelines as mandated by General Data Protection
Regulation
Ø
Ample number
of examples and case studies have been taken into consideration before coming
to a conclusion
Reasons to buy:
v
Identify
opportunities and plan strategies by having a strong understanding of the investment
opportunities in the Fragrances Market
v
Identification
of key factors driving investment opportunities in the Fragrances
Market
v
Facilitate
decision-making based on strong historic and forecast data
v
Position
yourself to gain the maximum advantage of the industry’s growth potential
v
Develop
strategies based on the latest regulatory events
v
Identify key
partners and business development avenues
v
Respond to
your competitors’ business structure, strategy and prospects
v
Identify key
strengths and weaknesses of important market participants