Perfumes Global Market To Reach Value Of About $70 Billion In 2025

8 Oct, 2021

The perfumes manufacturing market consists of the sales of perfumes. Perfume is a mixture of fragrant essential oils or aroma compounds, fixatives and solvents which give a pleasant scent to the human body, animals, food, objects, and living-spaces.

Global Perfumes Market Size And Drivers:

The global perfumes market is expected to grow from $43.47 billion in 2020 to $50.7 billion in 2021 at a compound annual growth rate (CAGR) of 16.6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $69.92 billion in 2025 at a CAGR of 8%. Rapid growth in millennial population is expected to drive the perfumes market.

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Trends In The Global Perfumes Market

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

Global Perfumes Market Segments:
The global perfumes market is further segmented –
By Product: Mass, Premium
By End User: Women, Men
By Distribution Channel: Offline, Online
By Geography: The global perfumes market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

Read More On The Report For The Global Perfumes Market At:

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Perfumes Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides perfumes market overviews, analyzes and forecasts market size and growth for the global perfumes market, perfumes market share, perfumes market players, perfumes market segments and geographies, perfumes market’s leading competitors’ revenues, profiles and market shares. The perfumes market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.