Explosive Growth Expected: Fragrances Market to Expand at 4.28% CAGR Through 2030

2023: Estee Lauder Companies Inc. has unveiled Beautiful Magnolia L’Eau, a fresh fragrance tailored for women. This new addition to their product line aims to diversify their offerings and drive profitability.

According to MarkNtel Advisors study, The Global Fragrances Market size is valued at around USD 480 Million in 2024 is poised to grow at a CAGR of around 6.1% during the forecast period, i.e., 2025-30.

The Fragrances Market is being driven by the growing number of working women & their increased spending on cosmetics. This trend is expected to strengthen fragrance demand alongside the rising interest in personal care products. Additionally, the expanding global population of elderly individuals is driving the demand for anti-aging cosmetic products, many of which include scents in creams, serums, and facial oils. Thus, consumers’ willingness to invest in advanced anti-aging treatments to reduce imperfections, wrinkles, and dark spots while enhancing skin tone is further fuelling the demand for fragrances. Consequently, the aging population’s tilt toward cosmetic products and the consumers’ pursuit of enhanced attractiveness would instigate the Fragrances Market share in the future years.

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Key Findings in Fragrances Market:

Fragrances Market Key Players:

Ajmal Perfumes Pvt. Ltd., Attar Al Has, Chanel S A, Church & Dwight Co. Inc., Estee Lauder Co. Inc., Givaudan SA, Firmenich SA, Hindustan Unilever Limited, International Flavors & Fragrances, Natura & Co., Procter & Gamble Health Ltd., Revlon Inc., SC Johnson & Son Inc., Shanghai Ligan Perfume Cosmetics Co. Ltd., Shiseido Co.Ltd., The Avon Co., The Perfume Company, Others (Burberry Group PLC, Calvin Klein etc.)

Market Segmentation Overview:

By Product Type

-Personal Care

–Cosmetics

–Deodorants & Perfumes

-Household Care

–Room Fresheners

–Bathroom Fresheners

-Others (Oral Care, Fabric Care, etc.)

Household fragrances are gaining traction worldwide, accounting for the largest share of the Global Fragrances Market. It owes to the mounting emphasis of people on maintaining & enhancing their homes, i.e., leading to the burgeoning sales of candles, mists, and essential oils, among other fragrances, to eliminate unpleasant smells, boost positivity, and improve mental well-being. Diffusers are becoming more & more popular due to their ease of application, instigating fragrance manufacturers to expand their production & distribution capacities to cater to the ever-growing consumer requirements for essential oils & incense sticks. Moreover, the massive demand for candles in both traditional & spiritual practices, coupled with the emerging trend of aromatherapy, are other crucial aspects influencing the Global Fragrances Market size in the projected years.

By Ingredient

-Natural

-Synthetic

By Distribution Channel

-Offline

–Hypermarket/ Supermarket

–Retail Stores

–Others (Convenience Stores, Departmental Stores etc.)

-Online

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By Region

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

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The Fragrances Industry Recent Development:

2022: L’Oréal S.A. has reintroduced its high-end beauty label Lancôme in India, planning to offer a range of makeup, fragrances, and skincare items under the Lancôme brand across the country.

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