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Luxury Perfume Market by End-user, Distribution Channel, and Geography - Forecast and Analysis 2021-2025

  • Published: Oct 2021
  • Pages: 120
  • SKU: IRTNTR43395
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The luxury perfume market share is expected to increase by USD 4.20 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 6.09%.

This luxury perfume market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers luxury perfume market segmentations by end-user (women, men, and unisex), distribution channel (offline and online), and geography (Europe, North America, APAC, MEA, and South America). The luxury perfume market report also offers information on several market vendors, including Amorepacific Group Inc., Burberry Group Plc, Clive Christian Perfume Ltd., Coty Inc., L and L LUXURY CO. LTD., LOreal SA, LVMH Moet Hennessy Louis Vuitton SE, PVH Corp., Shiseido Co. Ltd., and The Estee Lauder Co. Inc. among others.

What will the Luxury Perfume Market Size be During the Forecast Period?

Luxury Perfume Market Size

Download the Free Report Sample to Unlock the Luxury Perfume Market Size for the Forecast Period and Other Important Statistics

 

Luxury Perfume Market: Key Drivers, Trends, and Challenges

The increase in demand from the millennial population is notably driving the luxury perfume market growth, although factors such as competition from products that are available at affordable prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the luxury perfume industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Luxury Perfume Market Driver

The increase in demand from the millennial population is notably driving the luxury perfume market growth. There has been a significant increase in the use of perfumes among millennials, which can be attributed to the availability of these products online. Online retail is very popular among this generation as they are tech-savvy and more likely to purchase their specific grooming items such as perfumes online based on brand loyalty. Many millennials possess high disposable incomes, which enables them to spend on aspirational items like expensive fragrances. The key players in the luxury perfume market are following the product push and pull strategy to increase sales. Luxury perfumes are now available in smaller packages and priced lower than usual. These pricing strategies have made fragrances much more affordable for the younger generation, thereby offering them a higher purchasing power and enabling them to spend on beauty and personal care products. The growth of the personal care and beauty products industry will drive the market for luxury perfumes.

Key Luxury Perfume Market Trend

Product bundling is the key market trend driving the luxury perfume market growth. The high price of luxury perfumes is one of the key challenges for the market. Hence, vendors often use the strategy of product bundling to push products to customers who hold back their purchasing decision due to cost. Product bundling is basically a pricing strategy in which two or more similar products are sold together for a substantially lower price. In the case of perfumes, the bundles are usually made out of a deodorant and a perfume belonging to the same brand; the deodorant is for regular use, and the perfume is for special occasions. Another common bundling strategy is to pair men's and women's perfumes together. Such bundles make ideal gifts for couples, and hence, tend to have high sales. Bundling basically allows vendors to offer cost-effective deals to customers.

Key Luxury Perfume Market Challenge

The major challenge impeding the luxury perfume market growth is the ???????competition from products that are available at affordable prices. The key challenge for the luxury perfume market is the high price that cuts down the market size considerably and also reduces the chances of repeat purchases. Premium perfumes suffer high competition from products that are available at affordable prices. The customers for luxury perfumes are usually from the upper classes; they are much lesser in number when compared to the masses and mid-range customers. Private labels are much more popular due to the economical price they set for perfumes. The cost-effectiveness and good quality of mid-range products have made these perfumes much more popular than the premium ones. Moreover, new buyers who are entering the segment of premium cosmetic products would not buy expensive products online without actually experiencing the scent in a brick-and-mortar store. Hence, the price point is also liable to reduce online purchases.

This luxury perfume market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global luxury perfume market as a part of the global personal products market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the luxury perfume market during the forecast period.

Who are the Major Luxury Perfume Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Amorepacific Group Inc.
  • Burberry Group Plc
  • Clive Christian Perfume Ltd.
  • Coty Inc.
  • L and L LUXURY CO. LTD.
  • LOreal SA
  • LVMH Moet Hennessy Louis Vuitton SE
  • PVH Corp.
  • Shiseido Co. Ltd.
  • The Estee Lauder Co. Inc.

 

This statistical study of the luxury perfume market encompasses successful business strategies deployed by the key vendors. The luxury perfume market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • LOreal SA - The company offers luxury perfumes such as REPLICA and others.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The luxury perfume market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Luxury Perfume Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the luxury perfume market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Luxury Perfume Market?

Luxury Perfume Market Market segmentation by region

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37% of the market's growth will originate from Europe during the forecast period. Germany, the UK, and France are the key markets for the luxury perfume market in Europe.

The high living standards, the increased introduction of innovative products, the strong brand value of the products offered in the market, and rising household expenditure will facilitate the luxury perfume market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of the COVID-19 pandemic in the region led to the shutdown of production plants in the first and second quarters of 2020 in several countries in the region. Owing to the lockdown, luxury perfume retailers in Europe announced the partial suspension of their operations. These factors hindered the potential growth of the market in 2020. However, the governments of several countries lifted lockdown restrictions in the third quarter of 2020 owing to the decrease in COVID-19 cases as well as the implementation of vaccine drives in countries such as Germany and France, which led to the resumption of manufacturing operations of luxury perfume manufacturers and distribution channels such as specialty stores, hypermarkets, and department stores across countries in the region. This is expected to propel the demand for luxury perfumes in the region during the forecast period.

What are the Revenue-generating End-user Segments in the Luxury Perfume Market?

Luxury Perfume Market Segmentation

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The luxury perfume market share growth by the women segment will be significant during the forecast period. With the increase in the number of working women across the globe and the subsequent increase in their disposable income, women consumers have the financial freedom to invest in luxury perfumes. The need to look presentable and professional in the workplace is also one of the key reasons for the growing expenditure on luxury products.

This report provides an accurate prediction of the contribution of all the segments to the growth of the luxury perfume market size and actionable market insights on post COVID-19 impact on each segment.

 

Luxury Perfume Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 6.09%

Market growth 2021-2025

$ 4.20 billion

Market structure

Fragmented

YoY growth (%)

5.95

Regional analysis

Europe, North America, APAC, MEA, and South America

Performing market contribution

Europe at 37%

Key consumer countries

US, China, Germany, UK, and France

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Amorepacific Group Inc., Burberry Group Plc, Clive Christian Perfume Ltd., Coty Inc., L and L LUXURY CO. LTD., LOreal SA, LVMH Moet Hennessy Louis Vuitton SE, PVH Corp., Shiseido Co. Ltd., and The Estee Lauder Co. Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Luxury Perfume Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive luxury perfume market growth during the next five years
  • Precise estimation of the luxury perfume market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the luxury perfume industry across Europe, North America, APAC, MEA, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of luxury perfume market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis: Personal Products

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by End-user

    • 5.1 Market segments
      • Exhibit 15: End-user - Market share 2020-2025 (%)
    • 5.2 Comparison by End-user
      • Exhibit 16: Comparison by End-user
    • 5.3 Women - Market size and forecast 2020-2025
      • Exhibit 17: Women - Market size and forecast 2020-2025 ($ million)
      • Exhibit 18: Women - Year-over-year growth 2020-2025 (%)
    • 5.4 Men - Market size and forecast 2020-2025
      • Exhibit 19: Men - Market size and forecast 2020-2025 ($ million)
      • Exhibit 20: Men - Year-over-year growth 2020-2025 (%)
    • 5.5 Unisex - Market size and forecast 2020-2025
      • Exhibit 21: Unisex - Market size and forecast 2020-2025 ($ million)
      • Exhibit 22: Unisex - Year-over-year growth 2020-2025 (%)
    • 5.6 Market opportunity by End-user
      • Exhibit 23: Market opportunity by End-user

    6 Market Segmentation by Distribution channel

    • 6.1 Market segments
      • Exhibit 24: Distribution channel - Market share 2020-2025 (%)
    • 6.2 Comparison by Distribution channel
      • Exhibit 25: Comparison by Distribution channel
    • 6.3 Offline - Market size and forecast 2020-2025
      • Exhibit 26: Offline - Market size and forecast 2020-2025 ($ million)
      • Exhibit 27: Offline - Year-over-year growth 2020-2025 (%)
    • 6.4 Online - Market size and forecast 2020-2025
      • Exhibit 28: Online - Market size and forecast 2020-2025 ($ million)
      • Exhibit 29: Online - Year-over-year growth 2020-2025 (%)
    • 6.5 Market opportunity by Distribution channel
      • Exhibit 30: Market opportunity by Distribution channel

    7 Customer landscape

    8 Geographic Landscape

    • 8.1 Geographic segmentation
      • Exhibit 32: Market share by geography 2020-2025 (%)
    • 8.2 Geographic comparison
      • Exhibit 33: Geographic comparison
    • 8.3 Europe - Market size and forecast 2020-2025
      • Exhibit 34: Europe - Market size and forecast 2020-2025 ($ million)
      • Exhibit 35: Europe - Year-over-year growth 2020-2025 (%)
    • 8.4 North America - Market size and forecast 2020-2025
      • Exhibit 36: North America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 37: North America - Year-over-year growth 2020-2025 (%)
    • 8.5 APAC - Market size and forecast 2020-2025
      • Exhibit 38: APAC - Market size and forecast 2020-2025 ($ million)
      • Exhibit 39: APAC - Year-over-year growth 2020-2025 (%)
    • 8.6 MEA - Market size and forecast 2020-2025
      • Exhibit 40: MEA - Market size and forecast 2020-2025 ($ million)
      • Exhibit 41: MEA - Year-over-year growth 2020-2025 (%)
    • 8.7 South America - Market size and forecast 2020-2025
      • Exhibit 42: South America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 43: South America - Year-over-year growth 2020-2025 (%)
    • 8.8 Key leading countries
      • Exhibit 44: Key leading countries
    • 8.9 Market opportunity by geography
      • Exhibit 45: Market opportunity by geography ($ million)

    9 Drivers, Challenges, and Trends

    • 9.1 Market drivers
      • 9.2 Market challenges
        • Exhibit 46: Impact of drivers and challenges
      • 9.3 Market trends

        10 Vendor Landscape

        • 10.1 Landscape disruption
          • Exhibit 48: Landscape disruption
          • Exhibit 49: Industry risks
        • 10.2 Competitve Landscape

          11 Vendor Analysis

          • 11.1 Vendors covered
            • Exhibit 50: Vendors covered
          • 11.2 Market positioning of vendors
            • Exhibit 51: Market positioning of vendors
          • 11.3 Amorepacific Group Inc.
            • Exhibit 52: Amorepacific Group Inc. - Overview
            • Exhibit 53: Amorepacific Group Inc. - Business segments
            • Exhibit 54: Amorepacific Group Inc. - Key offerings
            • Exhibit 55: Amorepacific Group Inc. - Segment focus
          • 11.4 Burberry Group Plc
            • Exhibit 56: Burberry Group Plc - Overview
            • Exhibit 57: Burberry Group Plc - Business segments
            • Exhibit 58: Burberry Group Plc - Key offerings
            • Exhibit 59: Burberry Group Plc - Segment focus
          • 11.5 Clive Christian Perfume Ltd.
            • Exhibit 60: Clive Christian Perfume Ltd. - Overview
            • Exhibit 61: Clive Christian Perfume Ltd. - Product and service
            • Exhibit 62: Clive Christian Perfume Ltd. - Key offerings
          • 11.6 Coty Inc.
            • Exhibit 63: Coty Inc. - Overview
            • Exhibit 64: Coty Inc. - Business segments
            • Exhibit 65: Coty Inc. - Key offerings
            • Exhibit 66: Coty Inc. - Segment focus
            • Exhibit 67: L and L LUXURY CO. LTD. - Overview
            • Exhibit 68: L and L LUXURY CO. LTD. - Product and service
            • Exhibit 69: L and L LUXURY CO. LTD. - Key offerings
            • Exhibit 70: LOreal SA - Overview
            • Exhibit 71: LOreal SA - Business segments
            • Exhibit 72: Loreal SA – Key news
            • Exhibit 73: LOreal SA - Key offerings
            • Exhibit 74: LOreal SA - Segment focus
            • Exhibit 75: LVMH Moet Hennessy Louis Vuitton SE - Overview
            • Exhibit 76: LVMH Moet Hennessy Louis Vuitton SE - Business segments
            • Exhibit 77: LVMH Moet Hennessy Louis Vuitton SE - Key offerings
            • Exhibit 78: LVMH Moet Hennessy Louis Vuitton SE - Segment focus
            • Exhibit 79: PVH Corp. - Overview
            • Exhibit 80: PVH Corp. - Business segments
            • Exhibit 81: PVH Corp. - Key offerings
            • Exhibit 82: PVH Corp. - Segment focus
            • Exhibit 83: Shiseido Co. Ltd. - Overview
            • Exhibit 84: Shiseido Co. Ltd. - Business segments
            • Exhibit 85: Shiseido Co. Ltd. - key news
            • Exhibit 86: Shiseido Co. Ltd. - Key offerings
            • Exhibit 87: Shiseido Co. Ltd. - Segment focus
            • Exhibit 88: The Estee Lauder Co. Inc. - Overview
            • Exhibit 89: The Estee Lauder Co. Inc. - Business segments
            • Exhibit 90: The Estee Lauder Co. Inc. – Key news
            • Exhibit 91: The Estee Lauder Co. Inc. - Key offerings
            • Exhibit 92: The Estee Lauder Co. Inc. - Segment focus
          • 11.7 L

            121 11.8

            122 11.9

            124 11.10

            126 11.11

            128 11.12

            131 12.

            133 12.1

            134 12.2

            135 12.3

            137 12.4

            Research Framework

            Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

            TechnavioINFORMATION SOURCES

            Primary sources

            • Manufacturers and suppliers
            • Channel partners
            • Industry experts
            • Strategic decision makers

            Secondary sources

            • Industry journals and periodicals
            • Government data
            • Financial reports of key industry players
            • Historical data
            • Press releases
            Technavio

            TechnavioDATA ANALYSIS

            Data Synthesis

            • Collation of data
            • Estimation of key figures
            • Analysis of derived insights

            Data Validation

            • Triangulation with data models
            • Reference against proprietary databases
            • Corroboration with industry experts
            Technavio

            TechnavioREPORT WRITING

            Qualitative

            • Market drivers
            • Market challenges
            • Market trends
            • Five forces analysis

            Quantitative

            • Market size and forecast
            • Market segmentation
            • Geographical insights
            • Competitive landscape
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            Luxury Perfume Market market growth will increase by $4.20 bn during 2021-2025.
            The luxury perfume market market is expected to grow at a CAGR of 6.09% during 2021-2025.
            Technavio has segmented the luxury perfume market market by end-user (women, men, and unisex) ,distribution channel (offline, online, APAC, MEA, and South America) , and geography (Europe, North America, APAC, MEA, and South America).
            Amorepacific Group Inc., Burberry Group Plc, Clive Christian Perfume Ltd., Coty Inc., L and L LUXURY CO. LTD., LOreal SA, LVMH Moet Hennessy Louis Vuitton SE, PVH Corp., Shiseido Co. Ltd., The Estee Lauder Co. Inc. are a few of the key vendors in the luxury perfume market market.
            Europe will register the highest growth rate of 37% among the other regions. Therefore, the luxury perfume market market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.
            The key factors driving the luxury perfume market market growth are:
            • Increase in demand from the millennial population
            The luxury perfume market market vendors should focus on grabbing business opportunities from the women segment as it accounted for the largest market share in the base year.
            • What are the key global market and the regional market share?
            • What are the revenue-generating key market segments?
            • What are the key factors driving and challenging this market’s growth?
            • Who are the key market vendors and their growth strategies?
            • What are the latest trends influencing the growth of this market?
            • What are the variables influencing the market growth in the primary regions?
            • What are the factors influencing the growth of the parent market?
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            • Covid-19 impact and recovery analysis
            • Data on revenue-generating market segments
            • Details on the market shares of various regions
            • Five-force market analysis

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