Harrisburg, NC -- (SBWire) -- 02/18/2019 --Global Fragrance and Perfume Market - Segmented by Product Type, Ingredients, Consumer Groups, Distribution Channel, and Geography - Growth, Trends and Forecasts (2019 - 2023). The fragrance and perfume market growth is also influenced by unpredictable and continuously changing fashion trends. Due to this reason, key players in the market are on a constant lookout for exciting, unique, and new fragrances to attract different consumer groups across the globe. The perfume market expected to witness slow growth compare to overall fragrance market. However, perfumes and colognes, along with body sprays and other scented body products are likely to will witness significant growth during forecast period.

Global Fragrance and perfume market is projected to grow at the rate of 6.2% during the forecast period as consumers are purchasing more perfume and fragrance products to maintain personal style and individuality

Major Players: Elizabeth Arden, Inc., Shiseido, LOreal, International Flavors & Fragrances, Chanel S.A., Estee Lauder, Avon, Coty, Vivenza, Kilian, Givaudan, and Symrise AG

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The Fragrance and Perfume are primarily utilized for dairy products, soft drinks, and water catering in diverse shapes and sizes to various consumers. The rising preference for easy-to-carry liquid foods is expected to boost the demand for these packaging cartons, thereby, fueling the market growth. The changing lifestyle of people coupled with the convenience of utilizing carton packaging is projected to propel the market. In addition, Fragrance and Perfume have an edge over the glass and plastic packaging, in terms of environmental-friendliness and recyclability of the material, which mitigates the wastage and reduces the product cost. Thus, the aforementioned factors are expected to drive the Fragrance and Perfume market growth over the projected period.

Growing Demand for Natural Fragrances and Perfumes to Drive Fragrance and Perfume Market Growth:
Key players in fragrance and perfume market are concentrating on natural-based fragrances, instead of synthetic-based ingredients due to growing consciousness about risk for allergies and toxins. For instance, the US based LUXE Brands is positioning itself as natural fragrance brands and it is also collaborating with celebrities for product endorsement. Increasing in consumer expenditure on personal care products and growing awareness about the therapeutic benefits of fragrance are playing key role to drive the market growth. Innovation in ingredients and packaging along with celerity endorsement of fragrance and perfume products by key players is likely to boost the sales of the products across globe. Additionally, increasing influence of social media on shopping habits, celebritys endorsement is likely to support the fragrances and perfume market growth in upcoming years. For instance, perfume launched by Avons with collaboration with Hollywood actress Eva Mendes has become popular in UK and it has won the award as UKs best perfume in Fragrance Foundation Awards 2018.

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Key Developments
May 2018: L'Oral announces the signature of a worldwide long-term license agreement with Maison Valentino for the creation, development and distribution of fine fragrances and luxury beauty.
Oct 2016: Shiseido beat Spains Puig to win Procter & Gambles Dolce & Gabbana perfume (D&G) licence, which generates USD 445 million in annual revenue. It aims to grow this to USD 1.11 billion in 10 years.

Demand for High Fragrance Concentration Content to Drive the Fragrance and Perfume Market Growth:
Growing popularity of perfumes with a higher fragrance concentration contain i.e. perfume oils and less alcohol is playing key role to drive market growth of de parfum (pure perfume) which has 15% to 40% fragrance concentration. Fragrance concentrations are broken into categories including parfum, eau de parum, eau de toilette, eau de cologne, and eau fraiche. Owing to better opportunities in the fragrance industry, the market is witnessing new entrants especially in synthetic based perfume and fragrance products. Growing popularity of various premium brands among consumers is influencing the sales of premium perfume and fragrance products.

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Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
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