The luxury perfume market size was valued at $11.7 Bn in 2018 and is expected to reach $16.8 Bn by 2026, registering a CAGR of 5.3% from 2019 to 2026.
Lifestyle consciousness and increased buying power of customers are major impacts of increased disposable income, which naturally leads to a growth in usage of products and services. Increase in employment rate is impels rapid growth of disposable income of customers. Improvement in economic condition and growth in disposable income are substantial factors that boost the growth of the luxury cosmetics market overall.
Counterfeit products have stood about since the emergence of designer brands since they are easy to make, and their ingredients are relatively inexpensive. The battle between cosmetics sector and its counterfeit products is worth a billion dollars. Counterfeit products are very likely to damage a brand’s reputation and sales. Hence, rise in number of counterfeit products eventually hampers the growth of the global luxury perfume market.
According to the U.S. Census Bureau, millennials are on the verge of surpassing baby boomers in the country. Similarly, in Asia-Pacific, millennials account for a larger population, especially in countries such as China, India, and Australia as compared to other population groups. Millennials, population aged between 20 and 35 years, are health conscious, and active. They have been influential in evolving various global industries in terms of product offerings and services. They always tend to try products that are new in the market and determine whether the products cater to the requirements. As a result, rise in number of millennial population, paves way for global luxury perfume market to grow significantly in terms of value sales.
The global luxury perfume market is segmented on the basis of price, end user, distribution channel and region. By price, the market is further segmented into $50–$100, $100–$200, and above $200. By end user, the market is divided into male, female, and unisex. By distribution channel, the market is further sub-segmented into specialty store and online store. By region, the market is divided into North America, Europe, Asia-Pacific and LAMEA.
Key players profiled in the report include L&L Luxury Company Ltd., Pheonix Fragrance Ltd., Guccio Gucci S.p.A., Louis Vitton, Clive Christian, Floris London, Giorgio Armani S.p.A., Creed Boutique, LLC, Est?e Lauder Companies Inc., Herm?s International S.A., and others.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides an extensive analysis of the current and emerging market trends and opportunities in the global luxury perfume market.
- The report provides detailed qualitative and quantitative analysis of current trends and future estimations that help evaluate the prevailing market opportunities.
- A comprehensive analysis of the factors that drive and restrict the growth of the market is provided.
- An extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
- The report provides extensive qualitative insights on the potential segments or regions exhibiting favorable growth.
KEY MARKET SEGMENTS
- Above $200
By End Users
By Distribution Channel
- Specialty Store
- Online Store
- North America
- ·Rest of Europe
- ·New Zealand
- ·Rest of Asia-Pacific
- ·Latin America
- ·Middle East