Luxury Perfumes Market : Industry Analysis & Opportunities by 2027
Research Reports
Jan 20, 2022
Market overview
Luxury perfumes are the part of the fashion world and it has extensively paved its way in various demographics across the globe especially men, women and unisex. The need for perfume has been quite common for the past many years and the introduction of various types of flavours in the perfume fragrance is increasing the demand for luxury perfumes. These premium perfumes are in high demand in the cosmetics sector and with the changing lifestyle of the customers, more and more types of luxury perfumes are being launched.
The luxury perfumes have been gaining popularity since the twentieth century and different perfume brands have been offering luxurious fragrances that have established an iconic status among the upper-class population of the world. The preference for style, fashion, and glamour is uplifting the demand for luxurious perfumes worldwide.
The global luxury perfumes market report presents the various aspects that are contributing to the growth of the luxury perfume market. The rise in innovative fragrances and several other factors are growing the global market for perfumes at a significant CAGR from the year 2019 to 2023, as showcased in the report. Owing to the surge in the per capita income of the customers and the preference for the quality factor of perfumes is sustaining the trend of the global market.
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Industry news
Luxury perfume makers Dior and Givenchy have offered to help the French health authorities amid the COVID-19 pandemic that has struck hard in France. These luxury goods conglomerates will be providing the hand sanitizer for free to the healthcare facilities and clinics.
Regional analysis
The global luxury perfume market has been analyzed based on the key regions that are dominating the global market. These regions are Europe, North America, Asia-Pacific (China, India, Japan, Australia, and New Zealand) and the Rest of the World.
As seen in the report, Europe (Germany, UK, Italy, Spain, France, and Rest of Europe) is expected to dominate the luxury perfume market owing to the high presence of luxury perfume brands and the high purchasing power of the customers in this region. The growing retail sales and the advancement in technology is further fuelling the growth of the market. Asia-Pacific is also expected to register a high growth rate in the luxury perfume market due to the increasing consumer preference towards luxury goods. The rapid urbanization is also a factor that is contributing to the growth of the global luxury perfume market.
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Market segmentation
The market for luxury perfumes has always been at a surge with the expansion and extension of the market in various regions of the world. The global luxury perfumes market is widespread and can be segmented based on the product type, end-user, and distribution channels. As per the product type, the global luxury perfume market can be split into:
- Eau de toilette (EDT)
- Eau de parfum (EDP)
- Parfum
- Eau de cologne (EDC)
- Others
The global luxury perfumes market can be segmented on the basis of end-user as:
- Women
- Men
- Unisex
And lastly based on the distribution channels, the global luxury perfume market can be classified into:
- Non-store based
- Store-based
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