New Consumer Goods market report from Euromonitor International: "Fragrances in Greece"

Boston, MA -- (ReleaseWire) -- 06/17/2014 --The entire fragrances category contributed RMB5 billion to the overall beauty and personal care market in 2013, increasing at a healthy rate of 9% over 2012. However, compared with other categories such as skin care and hair care, the market was relatively small. Unlike Western consumers, people in China are not accustomed to wearing perfumes, and typically they did not buy such products. Thus, for years, market penetration has remained at an early stage and the consumer base is quite small.

Competitive Landscape

Chanel SA defended its leading position in fragrances with a value share of 13% in 2013 and growth of 14% in value sales over 2012. Compared with overall category growth, Chanel SA achieved fairly healthy growth in 2013 through its market promotion and advertising. Against the backdrop of a dynamic fragrances industry, Chanel SA did not launch as many new products, but focused more on consumer loyalty to maintain its high-level growth. Due to its profound influence on the fashion industry, Chanel is widely considered by many as a symbol of elegance and classic design, winning the affection of many wealthy consumers.

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Industry Prospects

Fragrances is expected to post a constant value CAGR of 8% over the forecast period, following constant consumer education and marketing efforts by multinational luxury brands. Due to a strong connection between fashion and perfumes, many well-known brands in the apparel industry such as DKNY and Diesel launched fragrances as an extension of their fashion lines. In addition, the success of the brand image from the apparel industry provides the fragrances with a ready-made impression and helps raise brand recognition. Therefore, brands such as LV and Miu Miu are planning to release fragrances as a new means of gaining profit.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Fragrances industry in China with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Fragrances industry in China, our research will save you time and money while empowering you to make informed, profitable decisions.

The Fragrances in China market research report includes:

- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country

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