The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Rapid growth in the millennial population are expected to drive innovation in perfumes manufacturing, thus driving the market during the forecast period.

The global perfumes market is expected to grow from $73.25 billion in 2022 to $83.3 billion in 2023 at a compound annual growth rate (CAGR) of 13.7%. The global perfumes market size is expected to grow from $138.93 billion in 2027 at a CAGR of 13.6%.

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Global Perfumes Market Segments Include:

• By Product: Mass, Premium
• By End User Sex: Women, Men
• By Distribution Channel: Offline, Online
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global perfumes market in 2021.

Major Market Players in the perfumes market include Coty Inc., Shiseido Company Limited, L’Oreal SA, LVMH Mot Hennessy Louis Vuitton SE, Revlon Inc., Avon Products Inc.

There is a growing preference among consumers for natural fragrances in the perfume market. According to the survey conducted by Kari Gran, 75% of millennial women prefer buying natural products, and 44% prefer natural ingredient perfumes. Perfume manufacturing companies are focusing on the development of natural fragrances for perfumes due to rising concerns about allergic reactions and toxins in synthetic ingredients. For instance, IME Natural Perfumes are made up of 100% natural ingredients and are also certified as toxin-free perfumes.

The Perfumes Global Market Report 2023 provides a perfumes market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The perfumes market forecast analyzes perfumes market size, perfumes market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Perfume is a mixture of fragrant essential oils or aroma compounds, fixatives, and solvents that give a pleasant scent to the human body, animals, food, objects, and living spaces. Perfumes are used to enhance the mood, increase attractiveness, and boost health.

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