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The US perfume market size is projected to increase by USD 3.91 billion at a CAGR of 10.52% between 2023 and 2028. The market is experiencing significant growth, driven by improving living standards and increasing disposable income, leading to heightened demand for fragrances. Innovative promotional activities, such as limited-edition releases and collaborations with high-profile brands and personalities, are further fueling market expansion. However, the market also faces challenges, including the prevalence of counterfeit products, which undermine brand reputation and consumer trust. To mitigate this issue, industry players are focusing on implementing vital anti-counterfeiting measures and collaborating with law enforcement agencies to protect intellectual properties such as luxury perfumes. Overall, the perfume market is poised for continued growth, underpinned by consumer preferences for unique scents and the desire to enhance personal image and self-expression.
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This US perfume market growth forecast report provides comprehensive data, with forecasts and estimates in USD Billion for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
The market share analysis and growth by the women segment will be significant during the forecast period. The women segment of the perfume market in US is witnessing many product launches and innovations. Such product launches are boosting the US perfume market growth share in the region.
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The women segment was valued at USD 2.81 billion in 2018. There has been a significant rise in the number of working women who can pamper themselves with premium perfumes and gift them to their friends and family members as per the perfume industry statistics. Thus, with the increase in the number of working women around the globe and the subsequent increase in their disposable income, women consumers have the financial freedom to invest in perfumes. The need to look presentable and professional in the workplace is also one of the key reasons for the growing expenditure on personal care products such as perfumes. Therefore, these factors are expected to augment the growth of the women's perfume segment and boost the growth of the US perfume & fragrance market during the forecast period.
The United States perfume market is a vibrant landscape shaped by evolving consumer preferences and industry market trends. Millennials and the Gen Z population are driving demand for fragrances and perfumes, within the luxury perfume market with a penchant for exotic and premium offerings. The perfume and fragrance market is booming, fueled by industry growth and increased consumer spending on premium fragrances. Exotic fragrances and light-scented options are in high demand, with product diversification expanding offerings for both men end-users and women. Premium fragrance products are gaining traction, often highlighted through celebrity endorsements and social media influencers, enhancing their appeal. Beauty salons and perfumeries are key players, leveraging online distribution channels to reach a broader audience. The rise of e-commerce has impacted nonessential businesses, shifting some focus from traditional brick-and-mortar stores. As industry revenue climbs, the market continues to innovate, combining artistic elements with cutting-edge beauty products to captivate consumers and drive overall growth.
The perfume market in the United States has experienced notable growth due to the rising demand of personal grooming and the increasing preference for citrus oil-based fragrances and other fragrance ingredients among consumers. According to recent studies, the millennial demographic, consisting of individuals between the ages of 18 and 32, has shown a significant inclination toward premium fragrance products. This age group, known for their brand consciousness, is willing to pay higher prices for high-quality perfumes. The use of natural citrus oils in these perfumes adds to their allure, enhancing both the product's appeal and performance.
Innovative promotional activities are a major trend affecting the United States Perfume market growth. One of the main challenges faced by the perfume market is the high price of these products. To address this issue, companies often employ promotional activities that include product bundling as a strategy to encourage customers who are hesitant to make a purchase due to the cost. Product bundling involves selling two or more similar products together at a significantly lower price. For perfumes, this strategy typically involves bundling a deodorant and a perfume from the same brand, with the deodorant intended for daily use and the perfume for special occasions. Department stores often use light-scented fragrances and mass fragrance products in their advertisement strategies to enhance the appeal of their online distribution channel.
However, another common bundling strategy of the fragrance and perfume market is to offer paired men's and women's fragrances as a gift for couples, resulting in high sales. An artist can leverage online distribution channel to showcase and sell their unique perfume and fragrance products to a global audience. By offering cost-effective deals to customers through bundling, companies are able to attract more buyers and drive sales. Therefore, these factors will shape US perfume market growth and trends during the forecast period.
Competition faced by premium perfumes from products available at affordable prices is hindering US perfume market growth. The key challenge to the US perfume market is the high price that cuts down the US perfume market size considerably and reduces the chances of repeat purchases. Premium perfumes suffer high competition from products that are available at affordable prices, such as deodorants. The customers for premium perfumes are usually from the upper classes; they are much lesser in number when compared with the masses and mid-range customers as per perfume industry statistics. Private labels are much more popular owing to the economical price they set for perfumes.
Further, 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 of premium perfumes in the US. This is expected to hinder US perfume market growth during the forecast period.
The US perfume market research report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the US perfume market forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the perfume target market.
The US perfume market analysis and report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative market analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
In the US perfume market, brands like Lavanila stand out with their unique product packaging design, attracting consumers with both aesthetic appeal and fragrance quality. While the US perfume market continues to thrive, the perfume market in India shows promising growth potential, driven by factors such as increasing disposable income, a growing young population, and changing consumer preferences toward personal grooming products. The market is a significant segment of the global perfume industry, witnessing continuous growth driven by factors such as changing fashion trends and product innovations. The perfume and fragrance market is experiencing notable growth, driven by industry diversification and customized fragrances.
However, both men and women end-users are seeking light-scented and waterless scents, prompting increased use of specialty chemicals and sustainable materials like vanilla beans and balsams. Economic conditions and consumer confidence influence purchasing patterns, with price competition and e-commerce activity becoming significant factors. Online distribution channels, including platforms like Parfumdreams, are gaining traction over traditional brick-and-mortar stores. The demand for high-quality oils, such as citrus oil, and the introduction of innovative products are shaping market trends. Operators are adapting to evolving preferences, ensuring that product performance remains a key focus amidst varying consumer expectations and market conditions.
Market Scope |
|
Report Coverage |
Details |
Page number |
131 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.52% |
Market growth 2024-2028 |
USD 3.91 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
9.26 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abercrombie and Fitch Co., Alpha Aromatics Inc., ALT. Fragrances LLC, BELLEVUE PARFUM USA, Botanic Beauty Labs., Capri Holdings Ltd., Coty Inc., Firmenich SA, Kapoor Luxury Fragrances, PVH Corp., Ralph Lauren Corp., Royal Aroma, Shiseido Co. Ltd., The Estee Lauder Companies Inc., and Ulta Beauty Inc. |
Market dynamics |
Parent market analysis, Market forecasting growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our US perfume market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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