The global Perfume Market is expected to grow with a CAGR of 3.9% throughout the forecast period to reach USD 40.9 billion, by 2025, according to a new report released by Million Insights. Increasing focus on personal care and rising demand for premium and high-end fragrance are fueling the market growth. Further, the increasing popularity of these products among millennials is supplementing the online sales, which in turn proliferate the market growth.
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Market Synopsis of Perfume Market:
Rising consumers’ purchasing power and their increasing spending on personal care have positively affected the market growth. Manufacturers are focusing on product innovation and unique branding strategies to boost the sales of their products. Owing to this, the mass product segment is likely to grow with a CAGR of 3.8% over the forecast period. Further, increased consumer spending has led to a rise in demand for the premium segments. Considering the increasing demand for the premium segment, manufacturers are focusing on the innovative product launch. For example, Victoria Secret introduced premium products such as Vanilla Lace, Bombshell and VC Rush in India in a price range of USD 18 to 25.
The online segment is projected to grow with a CAGR of 3.9% over the next five years. Factors such as growing e-commerce platforms, rising multi-channel retailing, seasonal discount and ease in purchasing are supplementing the online sales of these products. For example, Nykaa offers a discount on women’s day on its products, which in turn attract a huge customer base.
Key players in the perfumes market are Natura Cosmticos SA, L’Oreal Groupe, Elizabeth Arden, Inc., LVMH, Estee Lauder, Avon Products Inc., and Coty Inc. among others. These players are emphasizing on offering customized products for different individuals.
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Table of Contents:-
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Perfume: Market Variables, Trends & Scope
Chapter 4 Perfume: Product Estimates & Trend Analysis
Chapter 5 Perfume: Application Estimates & Trend Analysis
Chapter 6 Perfume: End-use Estimates & Trend Analysis
Chapter 7 Perfume: Industrial End-use Estimates & Trend Analysis
Chapter 8 Perfume: Regional Estimates & Trend Analysis
Chapter 9 Competitive Landscape
Chapter 10 Perfume: Manufacturers Company Profiles
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