A recent market intelligence report that is published by Data Insights Partner on the global Fragrances Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international Fragrances Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and global Fragrances Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of global Fragrances Market is offered. In accordance with the report, the global Fragrances Market is projected to expand by healthy CAGR over the period of forecast.
Market Insight, Drivers, Restraints, Opportunity & Trends of the Market:
A chemical admixture comprising of an odor is called fragrance. Fragrances consists of olfactive properties. Various species like bergamot, conifer raisin, myrtle, coriander, and almonds, herbs and flowers are used to obtain fragrances. Fragrances are commonly applied in human body, living spaces and many more. In western countries, in the context of human body, fragrances are applied in the warm parts of the body for the continuous emission of scents.
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The tendency of grooming has gained momentum among all gender types. Fragrances are an essential part of day-to-day grooming. Personal care and appearances play a vital role in boosting confidence, securing pride and reliance on self. Moreover, the need to adhere to appropriate dressing and outlook in the corporate sector is of high importance. All these factors are fueling the growth of the fragrances market.
Self-awareness and physical fitness are gaining importance among the population. This in turn is raising the number of gym-goers which is increasing the need for body-odor controlling products and boosting the fragrance market.
The interconnection between factors like transitioning lifestyle patterns, rapid urbanization especially in the developing regions, increasing disposable income, and upsurge in the middle-class population plays a vital role in accelerating the demand for luxurious products like fragrances for daily use.
The soaring participation of females in the working population has initiated the demand for cosmetics products which is positively affecting the fragrances market.
The leading players of the fragrances market has adopted visually alluring packaging with the aim of luring consumers to increase demand for fragrances. Further, the marketing and promotional techniques including celebrity endorsement of the products are augmenting the growth of the fragrances market.
Rapid Urbanization has also generated the demand for fragrances that can be used in homes with the aim of providing better homey feeling to the houses which is propelling the growth of the fragrances market.
The fragrance products of some of the leading players in the global market comprises of a premium price which is negatively affecting the consumer base of the fragrances market.
Many local companies have the tendency to counterfeit the actual fragrance products produced by global players which is hindering the growth of the fragrances market.
Fragrances comprises of synthetic aromas and also other chemical components which is averse to the human health and is threatening the fragrances market.
Fragrances generally come in fragile bottles like bottles made of glass which is not portable friendly and must be handled with care and this factor is further disrupting the growth of the fragrance market.
The rising awareness of the consumers with respect to grooming coupled with the increasing purchasing power of the consumers around the globe is expected to generate a never-ending path ahead for the fragrance market.
The increasing penetration of internet and social media platforms is expected to offer lucrative opportunities to this market. The rising cases of lifestyle blogging is expected to propel the growth of this market in the coming years.
At present North America dominates the market for fragrances and is expected to continue its domination in the forecast period. Such progress can be attributable to the presence of some of dominant players of this market in this region, the location of significant population that are much concerned with regard to their appearances and the launch of new fragrance products in this region. Asia Pacific is expected to emerge as the fastest growing region in the fragrance market on account of the presence of constantly developing economies like India and China. Globally, the fragrances market is expected to grow at a CAGR of around 5.5% in the forecast period.
This market intelligence report on the global Fragrances Market encompasses market segments based on product type, ingredient, category and country.
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By Product Type the global Fragrances Market has been divided into:
q Eau de Parfum
q Eau de Toilette
q Eau de Cologne
q Eau Fraiche
By Ingredient the global Fragrances Market has been divided into:
By Category the global Fragrances Market has been divided into:
By country/region, the global Fragrances Market has been divided into:
q North America (the U.S., Canada),
q Latin America (Brazil, Mexico, Argentina and other countries),
q Europe (Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as:
q Creed Boutique LLC
q CHANEL International B.V.
q L’Oreal S.A.
q International Flavors & Fragrances Inc
q The Estee Lauder Companies Inc
q Coty UK
q Proctor & Gamble Prestige Beauty
q Avon Products Inc
others have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as Fragrances Market related investment & spending and developments by major players of the market are tracked in this global report.
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, IGR-Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter's five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2020-2028. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
Few Recent Developments
Creed Boutique LLC
In October 2018, Creed Boutique LLC collaborated with Berkeley Beauty Brands Pvt. Ltd. with the aim of opening up a maiden store in India.
CHANEL International B.V.
In October 2018, the limited edition of red bottles N.5 was launched by CHANEL International B.V.
In February 2019, Deodorant Wipes was launched by Unilever. It is a pre-moistened, alcohol-free product constituting a package with built-in-lids to balance the freshness of the last wipe.
Ø This study offers comprehensive yet detailed analysis of the Fragrances Market, size of the market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2020-2028, taking into account 2019 as the base year
Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market
Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, competitive market strategies of leading market players, emerging market trends, and regional outlook
Ø Profiling of key market players in the world Fragrances Market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview
Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of Type of models, government initiatives, marketing tactics and expansion, and technical up gradation
Ø The world market for Fragrances caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for Fragrances Market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants
Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports
Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation
Ø Ample number of examples and case studies have been taken into consideration before coming to a conclusion
Reasons to buy:
v Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the Fragrances Market
v Identification of key factors driving investment opportunities in the Fragrances Market
v Facilitate decision-making based on strong historic and forecast data
v Position yourself to gain the maximum advantage of the industry’s growth potential
v Develop strategies based on the latest regulatory events
v Identify key partners and business development avenues
v Respond to your competitors’ business structure, strategy and prospects
v Identify key strengths and weaknesses of important market participants
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