Industry Background:
Fragrance plays a very important role in the beauty and luxury industry, this industry is kind of traditional and thin conservative. There are two major aspects in this particular industry one is Flankers and other is an expansion of niche perfumes, niche perfumes are highly demanded in this industry and more expensive also. Others are genderless or unisex fragrances for which consumers are looking aggressively.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Dominating Application | Male Perfumes |
Key Companies Profiled | Avon (United Kingdom), Chanel (France), Coty (France), LVMH (France), Elizabeth Arden (United States), Estee Lauder (United States), Gianni Versace (Italy), Liz Claiborne (United States), L’Oréal (France) and Revlon (United States) |
This growth is primarily driven by Increasing Demand of Natural-Based Perfume Ingredients and Celebrity Endorsement.
Globally, a noticeable market trend is evident Online Platform Is Influencing the Sales of Luxury Perfumes
Major Vendors, such as Avon (United Kingdom), Chanel (France), Coty (France), LVMH (France), Elizabeth Arden (United States), Estee Lauder (United States), Gianni Versace (Italy), Liz Claiborne (United States), L’Oréal (France) and Revlon (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. In Asia Pacific region players are entering into partnerships with e-commerce retail stores to strengthen their distribution network. And additionally also focus on promoting and improve marketing of their respective brands
Key Developments in the Market:
In July 2021, AVON lunched new luxury fragrance called Upcycled Vanilla. This is world’s first to use ‘upcycled vanilla extract’. The ‘exhausted’ vanilla beans are sustainably and ethically sourced from Madagascar in collaboration with local communities that are directly benefitting from sustainable partnerships. This new launch helped AVON to expand its presence in Luxury Fragrance market
In July 2018, Louis Vuitton Launched First Unisex Fragrance Named as Ombre Nomade, Which Expand Collection and Focuses on Raw Materials to Complement Both Men and Women Both. The Fragrance Is Available in Refillable Bottles in 100 Ml and 200 Ml Sizes
Influencing Trend:
Online Platform Is Influencing the Sales of Luxury Perfumes, To Give Luxury Perfumes It As a Gift Is Influencing, Unisex Luxury Perfume Are More Demanding and Lighter-Scented Luxury Perfumes
Market Growth Drivers:
Increasing Demand of Natural-Based Perfume Ingredients and Celebrity Endorsement
Challenges:
Lack of Transparency on the Packaging and Climate Change Shows Impact on Raw Material Harvesting
Restraints:
Increasing Incidence of Allergy Reactions from Fragrance
Opportunities:
Niche Perfumes and Genderless Perfumes Are Growing Expansion in This Industry, Where Players Can Invest More
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Luxury Fragrance Market
- Analysis about New Entrants in Luxury Fragrance Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Luxury Fragrance Study Sheds Light on
The Luxury Fragrance Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Luxury Fragrance industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Luxury Fragrance industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.