Personalized Perfumes Are Increasingly Gaining Popularity In The Perfume Market

The Business Research Company's perfume market research report expands on key drivers, trends, and growth opportunities in the market.

LONDON, Aug. 16, 2022 /PRNewswire/ -- Personalized perfumes are made with blends of exotic oils such as patchouli, rose, sandalwood, vanilla, ylang-ylang, and orange. They should be combined with four teaspoons of carrier oil. The ideal oil to use when creating your own scent is jojoba. In February 2022, All Good Scents, an Indian contemporary fragrance house, designed to create cruelty-free, vegan, fun-to-use fragrances, has announced the launch of AGS Pairing a first-of-its-kind range of perfumes in India for pairing fragrances. AGS Pairing is a collection of 10 fragrances designed to evolve with the wearer wherever they are on their personal journey. The collection includes the following fragrances, Sparkling Citrus, Fiji Fresh, Crunch Green, Warmwood, Delicate Lily of the Valley, Velvet Tuberose, Dewy Rose, Gourmand Vanilla, Smoky Patchouli and Creamy Sandalwood, which were refined over nine months by fragrance creator and designer Rajiv Seth.

The global cosmetic perfumes market size is expected to grow from $62.91 billion in 2021 to $71.19 billion in 2022 at a compound annual growth rate (CAGR) of 13.2%. The global perfume industry worth is expected to grow to $114.98 billion in 2026 at a CAGR of 12.7%.

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Increasing Demand From E-Commerce Companies For Consumer Goods Is A Major Driver

As per the perfume market analysis, increasing demand from e-commerce companies for consumer goods to cater the growing demand from end-customers is expected to increase the demand for personal hygiene products and drive the demand for perfumes during forecast period. The ecommerce sector relies heavily on logistic delivery providers who are currently being serviced by logistic companies.  According to the US Department of Commerce, Retail Indicator Division, e-commerce sales were $870 billion in the US in 2021, a 14.2% increase over 2020 and a 50.5% increase over 2019.

LVMH Held The Largest Share Of The Perfumes Market In 2021

LVMH was the largest competitor in the perfumes market in 2021, with a 3.15% of the perfume market share. LVMH is a leader in luxury. LVMH's strategy is focused is to expand its footprint and enhance customer experience though mergers and acquisitions. For instance, in October 2021, LVMH, a French luxury group acquired Officine Universelle Buly 1803, a France-based beauty brand that specializes in perfumes and cosmetics for an undisclosed amount. After having been supported by LVMH Luxury Ventures, a minority investment fund, for nearly four years it now joins the LVMH Group alongside its 75 other Maisons.

Perfume Market Segmentation

The global perfumes market is segmented -

1. By Product: Mass, Premium
2. By End-User Sex: Women, Men
3. By Distribution Channel: Offline, Online

See more on the Perfume Market Report

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