A recent report by Fact.MR projects the global fragrances market to grow at a CAGR of 6.2% during the forecast period 2017 to 2022. The rise in living standards of population across developing economies has driven the consumption of cosmetic as well as aromatic personal care products, which in turn is expected to fuel adoption of fragrance products in these regions.
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The report offers an overview of the global fragrances market. This comprises an introduction to the market, along with a standard definition of the product – fragrances. In this section, market value and year-over-year growth is offered to the readers. Year-over-year growth provides readers with a broader view of growth patterns over the forecast period.
The report’s succeeding section focuses on drivers, restraints and key trends from macroeconomic, demand, and supply perspectives. Impact analysis of weighted average model-based growth drivers is contained in the report for better provision of decision-making insights to clients.
Projections for the Global Fragrances Market
- Soaps & detergents will remain preferred among products, however their sales are anticipated to exhibit the lowest CAGR through 2022.
- Cosmetics & toiletries are estimated to be the second largest product type segment in the global fragrances market.
- Fine fragrances, and household products will register the fastest expansion in the market during the forecast period, with fine fragrances anticipated to account for a relatively larger revenues than the household products segment.
- On the basis of distribution channels, hypermarkets will continue to be dominant in the global market for fragrances, with sales estimated to exhibit fastest expansion through 2024. In terms of revenues, hypermarkets are expected to hold the largest share of the market by 2022-end.
- Supermarkets will remain the second largest distribution channel in the market during the forecast period.
- Specialized cosmetic stores are expected to exhibit a sluggish expansion in sales of fragrances through 2022.
- Europe will remain the most lucrative region in the global market for fragrances, with sales anticipated to exceed US$ 20,000 Mn in revenues by 2022-end.
- In terms of sales, Asia Pacific excluding Japan (APEJ) will exhibit a comparatively faster growth than North America during the forecast period.
- Fragrances market in Middle East & Africa (MEA) and Japan will continue to exhibit the lowest CAGRs through 2022.
Region-wise, Europe is expected to remain the most lucrative region for growth of the global fragrances market, with sales estimated to surpass US$ 20,000 Mn by 2022-end. Following Europe will be North America, and Asia Pacific excluding Japan (APEJ), in terms of revenues. However, in terms of sales, APEJ is expected to register a comparatively higher CAGR than North America through 2022. Fragrances market in Japan, and Middle East & Africa (MEA) will continue to register the lowest CAGRs through 2022.
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Competition Tracking
The report has also profiled leading players in the global fragrances market, which include Avon Products, Inc., CavinKare Pvt. Ltd., Church & Dwight Co., Inc., Henkel AG & Co. KGaA, Lion Corporation, Chanel International B.V., The Estée Lauder Companies Inc., Amway Corporation, Coty Inc., and Clarins S.A.
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