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perfumes deodorants market

Perfumes and Deodorants Market Share, Size, Trends, Industry Analysis Report, By Distribution Channel (Supermarkets & Hypermarkets, Specialty Stores, Pharmacies, E-commerce, Others); By Type, By Region; Segment Forecast, 2021 - 2028

  • Published Date: Oct 2021
  • Pages: 114
  • Format: PDF
  • Report ID: PM2098
  • Base Year: 2020
  • Historical Data: 2016 - 2019

Report Summary

The global perfumes and deodorants market was valued at USD 56.20 billion in 2020 and is expected to grow at a CAGR of 3.7% during the forecast period. The industry is positively influenced by the factors such as advancement in the perfumes & deodorants such as anti-bacterial, novel aromas coupled with increasing disposable income, especially in emerging countries, which may drive the market worldwide.

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In addition, the continual change in the market trend leads to the development of unique, exciting, and new scents, which, in turn, fuels the perfumes and deodorants market growth. Furthermore, the growing population across the globe and the rising penetration of perfumes & deodorants for maintaining personal hygiene may further contribute to the development of the industry in the foreseen future.

The widespread of COVID-19 shows a massive impact on the personal care products industry in various aspects. The perfumes & deodorants industry is slowing down due to the lack of availability of raw materials along with government restrictions such as lockdown in various regions and social distancing. However, the perfumes & deodorants market is growing at a considerable rate because it is considered an essential personal care product mainly among millennials and Gen Z. Gradual reopening of lockdown and business industries may fuel the demand of the perfumes and deodorants market.

Industry Dynamics

Growth Drivers
The perfumes & deodorants industry has perceived a significant development from the past years due to the growing expenditures on various platforms' promotion and advertisement activities. Leading players are capitalizing on numerous promotional activities for stimulating consumer’s decisions on purchasing. Moreover, product promotion by several celebrities’ endorsements as well as social media may encourage the adoption of the perfume and deodorants, which is opted by the vendors by implementing the advertising policies.

Furthermore, increasing numbers of retailers for cosmetics and perfume on the e-commerce platforms are using images and videos of perfumes & deodorants for accelerating global sales. Those retailers also present some modified scents and perfumes, which gain a huge consumer base. Therefore, dominating players in the perfumes and deodorants market are increasingly participating in promotional activities for the enticing population on the digital platform.

For instance, a dubbed cockpit is a tool industrialized by L’Oréal which evaluates the ROI and production efficiency of the company’s media investment at the actual time. This tool is developed with the cloud business Domo, which facilitates the detailed analysis of what is working or what is not working to every product manager or media owner.

Using metrics like performance measure and share of voice comprise CPC, CPM, and fraud viewability for observing performance across digital media with the help of 20,000 data sources. This enables thriving power for decision-making while expressing performance approaches. Hence, these initiatives or strategic promotional policies may stimulate the significant perfumes and deodorants market.

Report Segmentation

The market is primarily segmented on the basis of type, distribution channel, and region.

By Type

By Distribution Channel

By Region

  • Perfumes
  • Deodorants
  • Supermarkets & Hypermarkets
  • Specialty Stores
  • Pharmacies
  • E-commerce
  • Others
  • North America (U.S., Canada)
  • Europe (Germany, UK, France, Italy, Spain, Netherlands, Austria)
  • Asia Pacific (China, India, Japan, South Korea, Indonesia, Malaysia)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, South Africa, Israel, UAE)

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Insight by Type

Based on the type segment, the deodorants segment is the highest revenue generator in the overall perfumes & deodorants industry in 2020 and is projected to grasp its supremacy in the foreseeable future. The demand for perfumes & deodorants is rising because it is applied on the body to avoid unpleasant smells mainly caused by the bacteria, especially in the armpits, feet, and groin, along with in several situations of vaginal secretion.

Antiperspirants are a variety of deodorants, which applied to a wide range of the body for blocking the sweat glands from preventing sweating. Thus, these benefits offered by this segment may fuel the perfumes & deodorants industry demand. Furthermore, deodorants are pocket-friendly that provide accessibility to large groups of people. In addition, increasing awareness for a physical workout or gyming also contributes to the global demand for perfumes and personal care products.

Perfume segment accounted for the fastest-growing returns over the forecast period. The adoption of perfume is increasing due to the rising inclination towards the luxury lifestyle coupled with the escalating disposable income. In addition, numerous modifications by the manufacturers, such as the introduction of new fragrances by using natural components, are more likely to gain huge traction among the population in the near future.

Insight by Distribution Channel

In the distribution channel segment, the hypermarket & supermarket segment is expected to record for the topmost position in the comprehensive perfumes and personal care products market. It is projected to maintain its leading position during the estimated period. The segment is continuing as the top choice for offline shopping due to the physical selection of perfumes & deodorants. The diverse variety of products offered by the numerous offline retails may further propel the segment growth.

Furthermore, factors like rapid urbanization and growing spending on self-care goods & services present by the supermarkets/hypermarkets will boost the segment’s fortunes. E-commerce segment is projected to record the highest CAGR over the forecasting years. The progression of various online retail networks like Parfum dreams, Flaconi, Amazon, and Sephora is the major contributor that fuels the segment growth. Moreover, the segment offers benefits such as convenience. It presents a certain discount on perfumes & deodorants, which may catalyze the segment growth in the upcoming years.

Geographic Overview

Geographically, North America is the largest contributor of revenue. The industry development is attributed to the accessibility of perfumes & deodorants with the on-the-go transferability in the region. Also, the adoption of slightly scented spray across the region with leading manufacturers and growing marketing policies act as a catalyzing factor, which, in turn, leads the market development in the overall region in the near future. For instance, Givaudan commenced its new fragrance creative center in Mexico in October 2017.

Moreover, Europe is expected to project the highest CAGR in the forthcoming scenario. The demand for perfumes & deodorants is expected to increase due to the increasing expenditure power among the population on luxurious and premium personal care goods & services.

Also, increasing penetration of naturally derived products is another significant factor for the perfumes & deodorants market. Moreover, demand for pocket-size perfumes is also developing, contributing to the market progression in the forecasting period. Thus, these factors are gaining considerable eminence all over the region.

Competitive Landscape

Some of the Major Players operating the global market include Beiersdorf, Burberry Group plc, Calvin Klein, Christian Dior S.A., Estee Lauder Companies, Inc., Firmenich S.A., Giorgio Armani S.p.A, Godrej Consumer Products Limited, Hindustan Unilever Limited, ITC Limited, J.K. HELENE CURTIS LTD, L'Oreal Group, LVMH, Marico Limited, McNroe Consumer Products Private Limited, Nivea India Private Limited, Revlon, Inc., VINI International, and Wipro Consumer Care & Lighting.

Perfumes & Deodorants Market Report Scope

Report Attributes

Details

Market size value in 2020

USD 56.20 billion

Revenue forecast in 2028

USD 69.31 billion

CAGR

3.7% from 2021 - 2028

Base year

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD billion and CAGR from 2021 to 2028

Segments covered

By Type, By Distribution Channel, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Key Companies

Beiersdorf, Burberry Group plc, Calvin Klein, Christian Dior S.A., Estee Lauder Companies, Inc., Firmenich S.A., Giorgio Armani S.p.A, Godrej Consumer Products Limited, Hindustan Unilever Limited, ITC Limited, J.K. HELENE CURTIS LTD, L'Oreal Group, LVMH, Marico Limited, McNroe Consumer Products Private Limited, Nivea India Private Limited, Revlon, Inc., VINI International, and Wipro Consumer Care & Lighting

Key Take-Away
Polaris Market Research
Perfumes & Deodorants Market | 2021-28 | Size Industry Report