US Perfume Market size to grow by USD 3,029.11 million between 2022 to 2027; Innovative promotional activities are a major trend-Technavio

NEW YORK, June 22, 2023 /PRNewswire/ -- The latest report on the US perfume market size is estimated to register an incremental growth of USD 3,029.11 million from 2022 to 2027. The market is estimated to progress at a CAGR of 9.12% during the forecast period. The market is concentrated due to the presence of diversified international and regional vendors. Improving living standards is driving demand for perfumes. People's desire to remain stylish has risen as their level of life has improved. Furthermore, the rising trend of personal grooming, as well as the increasing desire for youth-oriented and premium perfumes, are boosting the perfume market in the country. The rise in the middle-income group has resulted in a large increase in consumer expenditure. Perfume consumption has increased significantly among millennials. They are well-known for being brand conscious. They don't mind spending more on a product of their choosing; nevertheless, they don't want to sacrifice the quality of the thing they choose. Hence, with the rise in the middle-income group, millennials, and rising living standards, the perfume market in the United States is predicted to expand during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. Request sample report 

US Perfume Market 2023-2027: Scope

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The soft skills training market report covers the following areas:

• US Perfume Market 2023-2027 Size
• US Perfume Market 2023-2027 Trends
• US Perfume Market 2023-2027 Industry Analysis

US Perfume Market 2023-2027: Vendor Analysis

The market is concentrated, and the degree of concentration will accelerate during the forecast period. Competitors must focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also must leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Abercrombie and Fitch Co., Alpha Aromatics Inc., ALT. Fragrances LLC, BELLEVUE PARFUM USA, Botanic Beauty Labs., Capri Holdings Ltd., Coty Inc., Firmenich SA, Kapoor Luxury Fragrances, PVH Corp., Ralph Lauren Corp., Royal Aroma, The Estee Lauder Co. Inc., Ulta Beauty Inc., and Shiseido Co. Ltd. are among some of the major market participants.

Vendor Offering

• Alpha Aromatics Inc. – The company offers perfumes and focuses on creating, manufacturing, and supplying cents to private label brands and personal care product companies. 
• Abercrombie – The company offers perfumes such as 8, Fierce, and Fierce Cologne.
• Botanicbeautylabs – The company offers perfumes such as Eau de Toilette, Florida Water, and Cologne.

What`s New for 2023?

• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial
• Customization options available as per your business needs
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US Perfume Market 2023-2027: Market Dynamics

Key Trends 

Innovative promotional activities are a significant trend shaping the US Perfume Market . To address customer hesitation arising from cost concerns, vendors often employ promotional activities that involve product bundling as a strategic approach. This strategy consists in offering two or more similar products together at a significantly reduced price.

Furthermore, in the case of perfumes, this strategy commonly involves bundling a deodorant and a perfume from the same brand. The deodorant serves as a daily-use item, while the perfume is reserved for special occasions. By providing cost-effective deals through bundling, vendors can attract more buyers and drive sales. Hence, the use of bundling strategies is expected to have a positive impact on the perfume market in the US during the forecast period.

Challenge

Competition faced by premium perfumes from products available at affordable prices is hindering the US Perfume Market growth. One of the primary challenges faced by the perfume market in the US is the significant impact of high prices, which leads to a reduction in market size and limits repeat purchases. Premium perfumes face intense competition from more affordable alternatives.

Moreover, mid-range products' cost-effectiveness and good quality have made them increasingly popular compared to premium perfumes. As a result, the price becomes an obstacle for online purchases of premium perfumes in the United States. These factors, taken together, impede the expansion of the perfume market in the United States throughout the forecast period.

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US Perfume Market 2023-2027: Segmentation

US Perfume Market is segmented as below:

• End-user 
• Women
• Men
• Distribution Channel 
• Offline
• Online

The market share growth by the women segment will be significant during the forecast period. The women's segment of the perfume market in the US is currently experiencing numerous product launches and innovations. For instance, Christian Dior expanded its Miss Dior lineup in September 2021 by introducing a new intense fragrance for women. These product launches are driving the growth of the market in the region.

Furthermore, there has been a notable increase in the number of working women who have the means to indulge themselves with premium perfumes and gift them to their loved ones. As the number of working women continues to rise globally, along with their disposable income, women consumers now have the financial freedom to invest in perfumes. These factors are expected to contribute to the growth of the women's perfume segment and further enhance the expansion of the US perfume and fragrance market during the forecast period.

For insights on global, regional, and country-level parameters with growth opportunities, historic data (2017 to 2021) & forecast (2023-2027) – Download a Sample Report

US Perfume Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist US perfume market growth during the next five years
• Estimation of the US perfume market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the US perfume market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of the US perfume market and vendors.

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Table of Contents

1 Executive Summary

• 1.1 Market Overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Country Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 06: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 07: Parent market
• Exhibit 08: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 09: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 10: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 11: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 12: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 13: Chart on US: Year-over-year growth 2022-2027 (%)
• Exhibit 14: Data Table on US: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Perfume market in US 2017 - 2021 
• Exhibit 15: Historic Market Size – Data Table on Perfume market in US 2017 - 2021 ($ million)

• 4.2 End-user Segment Analysis 2017 - 2021 
• Exhibit 16: Historic Market Size – End-user Segment 2017 - 2021 ($ million)

• 4.3 Distribution Channel Segment Analysis 2017 - 2021 
• Exhibit 17: Historic Market Size – Distribution Channel Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 18: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 21: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 22: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 23: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 24: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by End-user

• 6.1 Market segments
• Exhibit 25: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 26: Data Table on End-user - Market share 2022-2027 (%)

• 6.2 Comparison by End-user 
• Exhibit 27: Chart on Comparison by End-user
• Exhibit 28: Data Table on Comparison by End-user

• 6.3 Women - Market size and forecast 2022-2027 
• Exhibit 29: Chart on Women - Market size and forecast 2022-2027 ($ million)
• Exhibit 30: Data Table on Women - Market size and forecast 2022-2027 ($ million)
• Exhibit 31: Chart on Women - Year-over-year growth 2022-2027 (%)
• Exhibit 32: Data Table on Women - Year-over-year growth 2022-2027 (%)

• 6.4 Men - Market size and forecast 2022-2027 
• Exhibit 33: Chart on Men - Market size and forecast 2022-2027 ($ million)
• Exhibit 34: Data Table on Men - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Chart on Men - Year-over-year growth 2022-2027 (%)
• Exhibit 36: Data Table on Men - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by End-user 
• Exhibit 37: Market opportunity by End-user ($ million)
• Exhibit 38: Data Table on Market opportunity by End-user ($ million)

7 Market Segmentation by Distribution Channel

• 7.1 Market segments
• Exhibit 39: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 40: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 7.2 Comparison by Distribution Channel 
• Exhibit 41: Chart on Comparison by Distribution Channel
• Exhibit 42: Data Table on Comparison by Distribution Channel

• 7.3 Offline - Market size and forecast 2022-2027 
• Exhibit 43: Chart on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Data Table on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 45: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 46: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 7.4 Online - Market size and forecast 2022-2027 
• Exhibit 47: Chart on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Data Table on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Distribution Channel 
• Exhibit 51: Market opportunity by Distribution Channel ($ million)
• Exhibit 52: Data Table on Market opportunity by Distribution Channel ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 53: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Drivers, Challenges, and Trends

• 9.1 Market drivers

• 9.2 Market challenges

• 9.3 Impact of drivers and challenges 
• Exhibit 54: Impact of drivers and challenges in 2022 and 2027

• 9.4 Market trends

10 Vendor Landscape

• 10.1 Overview

• 10.2 Vendor landscape
• Exhibit 55: Overview on Criticality of inputs and Factors of differentiation

• 10.3 Landscape disruption
• Exhibit 56: Overview on factors of disruption

• 10.4 Industry risks
• Exhibit 57: Impact of key risks on business

11 Vendor Analysis

• 11.1 Vendors covered
• Exhibit 58: Vendors covered

• 11.2 Market positioning of vendors 
• Exhibit 59: Matrix on vendor position and classification

• 11.3 Abercrombie and Fitch Co. 
• Exhibit 60: Abercrombie and Fitch Co. - Overview
• Exhibit 61: Abercrombie and Fitch Co. - Business segments
• Exhibit 62: Abercrombie and Fitch Co. - Key offerings
• Exhibit 63: Abercrombie and Fitch Co. - Segment focus

• 11.4 Alpha Aromatics Inc.
• Exhibit 64: Alpha Aromatics Inc. - Overview
• Exhibit 65: Alpha Aromatics Inc. - Product / Service
• Exhibit 66: Alpha Aromatics Inc. - Key offerings

• 11.5 ALT. Fragrances LLC
• Exhibit 67: ALT. Fragrances LLC - Overview
• Exhibit 68: ALT. Fragrances LLC - Product / Service
• Exhibit 69: ALT. Fragrances LLC - Key offerings

• 11.6 BELLEVUE PARFUM USA
• Exhibit 70: BELLEVUE PARFUM USA - Overview
• Exhibit 71: BELLEVUE PARFUM USA - Product / Service
• Exhibit 72: BELLEVUE PARFUM USA - Key offerings

• 11.7 Botanic Beauty Labs.
• Exhibit 73: Botanic Beauty Labs. - Overview
• Exhibit 74: Botanic Beauty Labs. - Product / Service
• Exhibit 75: Botanic Beauty Labs. - Key offerings

• 11.8 Capri Holdings Ltd.
• Exhibit 76: Capri Holdings Ltd. - Overview
• Exhibit 77: Capri Holdings Ltd. - Business segments
• Exhibit 78: Capri Holdings Ltd. - Key news
• Exhibit 79: Capri Holdings Ltd. - Key offerings
• Exhibit 80: Capri Holdings Ltd. - Segment focus

• 11.9 Coty Inc.
• Exhibit 81: Coty Inc. - Overview
• Exhibit 82: Coty Inc. - Business segments
• Exhibit 83: Coty Inc. - Key offerings
• Exhibit 84: Coty Inc. - Segment focus

• 11.10 Firmenich SA
• Exhibit 85: Firmenich SA - Overview
• Exhibit 86: Firmenich SA - Product / Service
• Exhibit 87: Firmenich SA - Key offerings

• 11.11 Kapoor Luxury Fragrances 
• Exhibit 88: Kapoor Luxury Fragrances - Overview
• Exhibit 89: Kapoor Luxury Fragrances - Product / Service
• Exhibit 90: Kapoor Luxury Fragrances - Key offerings

• 11.12 PVH Corp.
• Exhibit 91: PVH Corp. - Overview
• Exhibit 92: PVH Corp. - Business segments
• Exhibit 93: PVH Corp. - Key offerings
• Exhibit 94: PVH Corp. - Segment focus

• 11.13 Ralph Lauren Corp.
• Exhibit 95: Ralph Lauren Corp. - Overview
• Exhibit 96: Ralph Lauren Corp. - Business segments
• Exhibit 97: Ralph Lauren Corp. - Key offerings
• Exhibit 98: Ralph Lauren Corp. - Segment focus

• 11.14 Royal Aroma
• Exhibit 99: Royal Aroma - Overview
• Exhibit 100: Royal Aroma - Product / Service
• Exhibit 101: Royal Aroma - Key offerings

• 11.15 Shiseido Co. Ltd.
• Exhibit 102: Shiseido Co. Ltd. - Overview
• Exhibit 103: Shiseido Co. Ltd. - Business segments
• Exhibit 104: Shiseido Co. Ltd. - Key offerings
• Exhibit 105: Shiseido Co. Ltd. - Segment focus

• 11.16 The Estee Lauder Co. Inc. 
• Exhibit 106: The Estee Lauder Co. Inc. - Overview
• Exhibit 107: The Estee Lauder Co. Inc. - Product / Service
• Exhibit 108: The Estee Lauder Co. Inc. - Key offerings

• 11.17 Ulta Beauty Inc.
• Exhibit 109: Ulta Beauty Inc. - Overview
• Exhibit 110: Ulta Beauty Inc. - Product / Service
• Exhibit 111: Ulta Beauty Inc. - Key offerings

12 Appendix

• 12.1 Scope of the report

• 12.2 Inclusions and exclusions checklist 
• Exhibit 112: Inclusions checklist
• Exhibit 113: Exclusions checklist

• 12.3 Currency conversion rates for US$ 
• Exhibit 114: Currency conversion rates for US$

• 12.4 Research methodology
• Exhibit 115: Research methodology
• Exhibit 116: Validation techniques employed for market sizing
• Exhibit 117: Information sources

• 12.5 List of abbreviations
• Exhibit 118: List of abbreviations

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