Harrisburg, NC -- (SBWIRE) -- 10/27/2020 -- The Market Insights Reports has added a new statistical market report to its repository titled as, Perfumes Market. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; cost, revenue, demands, and supply data (as applicable). Furthermore, the report also sheds light on recent developments and technological platforms, in addition to distinctive tools, and methodologies that will help to propel the performance of industries. The report also presents forecasts for Perfumes investments from 2020 to 2023.
The global perfumes market was worth $30.6 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 10.8% and reach $46.1 billion by 2023.
Top Leading Companies of Global Perfumes Market are Coty Inc., Shiseido Company Limited, L'Oral SA, LVMH Mot Hennessy Louis Vuitton SE, Revlon Inc., Avon Products Inc., Abdul Samad Al Qurashi, Estee Lauder Companies Inc., Oriflame Holding AG, Chanel SA and others.
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Markets Covered:
1) By Product: Mass; Premium 2) By End User: Women; Men 3) By Distribution Channel: Offline; Online
Market Insights:
The perfumes manufacturing market consists of the sales of perfumes. Perfume is a mixture of fragrant essential oils or aroma compounds, fixatives and solvents which give a pleasant sent to the human body, animals, food, objects, and living-spaces.
The perfumes market covered in this report is segmented by product into mass and premium. The perfumes market in this report is segmented by end user into women and men. The perfumes market in this report is segmented by distribution channel into offline and online.
Rapid growth in millennial population is expected to drive the perfumes market. As of 2016, there were approximately 2 billion millennials globally. Young people tend to spend more than old on cosmetics, in an effort to improve looks and quality of life. For instance, sales of cosmetics products in millennials, increased by around 25% between 2015 and 2017. By 2025, millennials are expected to constitute to nearly three-quarters of the global work force. As millennials will represent a large part of the global workforce and play a major role in driving the current economy, their preferences and shopping habits will be an important driving factor for the perfumes market.
Counterfeits are made to look like known brands; consumers find it difficult to distinguish genuine products from the counterfeit products, thereby damaging the brand's reputation and devaluing the investment made by the brand, resulting in loss of revenues. For instance, statistics published by the European Commission states that over 40 million counterfeit articles were confiscated. Therefore, rising instances of counterfeiting limits the growth of the perfumes market.
Important Features that are under Offering and Key Highlights of the Reports:
– Detailed overview of Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application etc.
– Historical, current and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Perfumes Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth
Geographically, this report is segmented into several key Regions, with sales, revenue, Market Share (%) and Growth Rate (%) of Perfumes in these regions, from 2015 to 2020(forecast), covering Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Furthermore, the report provides a detailed analysis of the global Perfumes market with an analysis of market size by value and volume. Along with this, an analysis of the penetration rate and the average revenue generated per user (ARPU) in the market has also been done. The report also includes a detailed analysis of the global Perfumes market by countries, comprising of its market by value, volume, and ARPU and penetration rate.
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Research uses a bottom-up approach to assess the overall size of the market. Data from different industries and end-user industries and their applications across different product types are recorded and forecast during the forecast period. These segments and sub-segments are documented by industry experts and experts, as well as company representatives, and by analyzing data from these segments and sub-segments over the last few years, externally verified to gain market size.
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