Perfume Market in India by Distribution Channel and Type - Forecast and Analysis 2022-2026

The perfume market share in India is expected to increase by USD 1.02 billion from 2021 to 2026, and the market's growth momentum will decelerate at a CAGR of 14.89%.

This perfume market research report of India 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 perfume market segmentation in India by distribution channel (online and offline) and type (deodorant and perfume). The perfume market report of India also offers information on several market vendors, including Avon Products Inc., Beiersdorf AG, CavinKare Pvt. Ltd., Emami Ltd., Hindustan Unilever Ltd., ITC Ltd., Marico Ltd., McNROE Consumer Products Pvt. Ltd, The Raymond Corp., and VINI INTERNATIONAL FZE among others.

What will the Perfume Market Size in India be During the Forecast Period?

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Perfume Market in India: Key Drivers and Trends

The increasing demand from the millennial population is notably driving the perfume market growth in India, although factors such as counterfeit products available in the market 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 perfume industry in India. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Perfume Market Driver in India

One of the key factors driving growth in the perfume market in India is the increasing demand from the millennial population. Millennials do not mind paying higher prices for a particular product of their choice; however, they would not want to compromise on the quality of the product they opt for. Premium perfume brands come with the promise of higher quality available at different prices. 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 growth of the personal care and beauty products industry will drive the growth of the market for perfumes in India.

Key Perfume Market Challenge in India

The counterfeit products available in the market will be a major challenge for the perfume market in India during the forecast period. The counterfeit products market was huge in 2020, with revenue coming from various industries such as apparel, footwear, fragrances, watches, and electronic goods. These premium products are aspirational for young people as well as the middle-class section of society. People often cannot afford these products due to their high prices, and they opt for buying counterfeit products. Online websites often sell counterfeit products to increase sales while offering unrealistic discounts. Companies that make counterfeit products use similar kinds of packaging for luring customers and blinding them to the differentiation between the original and the fake products. These factors are expected to hinder the market growth significantly.

This perfume market analysis report of India 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 2022-2026.

Who are the Major Perfume Market Vendors in India?

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

• Avon Products Inc.
• Beiersdorf AG
• CavinKare Pvt. Ltd.
• Emami Ltd.
• Hindustan Unilever Ltd.
• ITC Ltd.
• Marico Ltd.
• McNROE Consumer Products Pvt. Ltd
• The Raymond Corp.
• VINI INTERNATIONAL FZE

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

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

What are the Revenue-generating Distribution Channel Segments in the Perfume Market in India?

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The perfume market share growth in India by the online segment will be significant during the forecast period. Changes in shopping preferences have propelled the sales of perfumes through the online channel. Presently, most consumers make their purchase decisions based on online research through websites, blogs, and social media. Strong infrastructure for the penetration of e-commerce services has also propelled the preference for the online distribution channel. The increasing Internet penetration and the rising use of smartphones are driving the growth of this format. Owing to the growing sales of perfumes online, vendors are expanding their online presence across India as well as internationally.

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

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

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive perfume market growth in India during the next five years
• Precise estimation of the perfume market size in India and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of perfume market vendors in India

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