Fragrance, certainly one of the most important and appealing personal care accessories, is a favorite among ladies across the globe. While some women prefer mild fragrance, others may choose a strong one. In one of the several available forms, women have a personal choice of fragrance, whether they work at offices or at home. The global female fragrance market is a dynamically growing market on a global level.
Persistence Market Research examines the global female fragrance market for an eight-year forecast period 2016-2024, and offers key insights into all the critical factors associate with the current and future market condition.
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Global Female Fragrance Market: Drivers and Restraints
As affluent consumers are increasingly shifting to westernized lifestyle, the demand for female fragrance will continue to be on the rise. In addition, increasing purchasing power of consumers, especially among developing economies, will also remain a key factor boosting sales of female fragrance. With a growing female workforce across the globe, the adoption of a host of fragrance varieties will continue to surge. Perfume or fragrance is still considered a luxury grooming product in some of the developing countries. However, its affordability over other counterparts will continue to support its sales.
Extensive advertising is expected to remain one of the key drivers to the global female fragrance market. Increasing celebrity endorsements for perfumes will continue to fuel the market. Although the popularity of natural, classic, traditional scents persists, growing exploration of lesser traditional scents by women is foreseen to be an important factor fostering sales of female fragrance products. Promising introduction of unisex fragrance brands in the market will further boost the revenue sales of female fragrances.
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Global Female Fragrance Market: Trends and Opportunities
Attractive packaging bottles has been one of the most popular trend in the perfumes market. This will continue to be one of the top trends driving the market over the forecast period as well. Several manufacturers are increasingly focusing on travel-friendly fragrance packaging, roll-on balls, spray pens, and so on. The global market for female fragrance is identified to increasingly welcome several new international as well as domestic brands, which is another sign that indicates strong growth opportunities over the next few years.
Women nowadays are observed to purchase more than one fragrances at a time. A growing trend of using different fragrances on different occasions is likely to benefit the market for female fragrance in near future. Manufacturers are expected to encounter the maximum profitable opportunities in the designer and celebrity league. Another important trend observed by Persistence Market Research is the growing adoption of scents, perfumes, and fragrances in the aromatherapy sector that will possibly open new paths of revenue generation within the next few years.
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Global Female Fragrance Market: Segment Analysis
By product type, the female fragrance market is segmented into fruity fragrances, citrus, oriental, and woody.
In terms of content, consumers are observed to prefer natural, environment-friendly fragrances over chemical extensive perfumes and deodorants.
Considering the distribution channel, supermarkets and hypermarkets are expected to be the most preferred distribution channels, attributed to evolving shopping habits of consumers.
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Global Female Fragrance Market: Regional Analysis
Europe may remain the leading market globally, accounting for the largest market revenue share over the forecast period 2016-2024. However, Asia Pacific is foreseen to be the most attractive market for female fragrance manufacturers, witnessing the fastest CAGR throughout the assessed period.
Global Female Fragrance Market: Key Players
Some of the key players competing in the global female fragrance market, include Procter & Gamble, Chanel SA, Coty, Inc., Elizabeth Arden, Gucci Group NV, Gianni Versace S.p.A, Fifth & Pacific Companies, L'oreal SA, Puig Beauty & Fashion Group S.L, and Revlon and Bulgari Parfums.