About Luxury Perfume
Luxury perfume is mixture of essential oils and aroma components which used to give fragrance to human and others. Luxury perfumes are available in different quantity such as less than 30 ml, 30 ml and more than 30 ml. launching of unisex perfumes will help to boost the global luxury perfumes market. Additionally, online retailing is key factor to drive market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 6.9% |
Global luxury perfumes market shows oligopoly due to presence of some key players such as Chanel (France), Estee Lauder (United States), Guccio Gucci (Italy), Hermes (France) and Ralph Lauren (United States). The business is highly fragmented with several small companies entering the global luxury perfumes market. However to gain market share in upcoming year manufacturers have shifted their preferences towards up gradation such as cost of perfumes, launching unisex perfumes. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Luxury Perfume market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Chanel (France), Estee Lauder (United States), Guccio Gucci (Italy), Hermes (France), Ralph Lauren (United States), Baccarat (France), Clive Christian (United Kingdom), Parfums Christian Dior (France), DKNY (United States) and Jean Patou (France) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Louis Vuitton (France), Ralph Lauren Corporation (United States) and Gianni Versace S.p.A. (Italy).
Segmentation Overview
AMA Research has segmented the market of Global Luxury Perfume market by Type (Floral, Fruity, Woody & Earthy, Spicy, Exotic, Aquatic and Others) and Region.
On the basis of geography, the market of Luxury Perfume has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Online (E-Commerce, Company Website) will boost the Luxury Perfume market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Women will boost the Luxury Perfume market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Dependency on Online Retailing, Attractive Packaging and Adoption of Higher Fragrance Concentration Contains
Market Growth Drivers:
Rising Consciousness about Brands, Easy Availability of Luxury Perfumes and Growing Expenditure of Luxury Goods
Challenges:
Affordability and convenience.
Restraints:
More Expensive and Allergies from Some Specific Fragrance
Opportunities:
Adoption of unisex Perfumes and Growing Demand of Synthetic Based Perfumes
Market Leaders and their expansionary development strategies
In June 2023, Kering Beauté acquired luxury perfume house Creed. French luxury group Kering Beauté (Gucci, Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, Brioni…) has announced the acquisition of English luxury perfume house Creed from financial investor BlackRock LTPC. Creed is a legendary fragrance house steeped in tradition, best known for producing unique fragrances and using exquisite natural ingredients
In June 2023, ITC Engage has launched Engage L’amante Luxury Perfume Sprays with Bag on Valve technology. As per the company, this new offering embodies the fragrance of the future with an eco-friendly, technology enabled propellant.
Key Target Audience
Luxury Perfumes Manufactures, Luxury Perfumes Retailers/ Distributors, Luxury Goods Industry, Private Research Organization, Government Research Organization and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.