The luxury perfume market is driven by the increase in demand from the millennial population. The millennial population is extremely brand conscious and they tend to spend more on products with better quality. Also, the population segment is more tech-savvy and is likely to purchase specific grooming items such as perfumes online based on brand loyalty. Also, the higher disposable incomes are enabling the millennials to spend more on aspirational items like expensive fragrances. This is encouraging vendors to introduce a variety of luxury perfumes and increase sales. All these factors are driving the growth of the global luxury perfume market.
In addition, replenishing personal grooming and influential endorsements from celebrities and social media will further accelerate the growth of the global luxury perfume market.
Some of key Luxury Perfume Players:
Amorepacific Group Inc.: The company offers luxury perfumes through its brands like Fradore, Mamonde, and more.
Burberry Group Plc: The company offers a wide range of luxury perfumes with the finest craftsmanship and design.
Clive Christian Perfume Ltd.: The company offers a wide range of luxury perfumes such as X Feminine, Matsukita, and others.
Coty Inc.: The company offers luxury perfumes under the brand name Tiffany and Co.
L and L LUXURY CO. LTD.: The company offers a wide range of luxury perfumes through its royal collection.
Luxury Perfume Market End-user Outlook (Revenue, USD Bn, 2020-2025)
- Women - size and forecast 2020-2025
- Men - size and forecast 2020-2025
- Unisex - size and forecast 2020-2025
Luxury Perfume Market Distribution Channel Outlook (Revenue, USD Bn, 2020-2025)
- Offline - size and forecast 2020-2025
- Online - size and forecast 2020-2025
Luxury Perfume Market Geography Outlook (Revenue, USD Bn, 2020-2025)
- Europe - size and forecast 2020-2025
- North America - size and forecast 2020-2025
- APAC - size and forecast 2020-2025
- MEA - size and forecast 2020-2025
- South America - size and forecast 2020-2025
By end-user, the market witnessed maximum demand from the women segment. Similarly, in terms of distribution channels, the offline segment accounted for maximum sales of luxury perfume.
By geography, Europe is identified as the largest market for the luxury market. The region accounts for 37% of the global market share. Factors such as high living standards, the increased introduction of innovative products, the strong brand value of the products offered in the market, growing urbanization, and rising household expenditure are driving the growth of the luxury perfume market in Europe.
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Related Reports:
Perfume Market in the US by End-user and Distribution Channel - Forecast and Analysis 2021-2025
Perfume Market in India by Distribution Channel and Type - Forecast and Analysis 2022-2026
Luxury Perfume Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.09% |
Market growth 2021-2025 |
USD 4.20 billion |
Market structure |
Fragmented |
YoY growth (%) |
5.95 |
Regional analysis |
Europe, North America, APAC, MEA, and South America |
Performing market contribution |
Europe at 37% |
Key consumer countries |
US, China, Germany, UK, and France |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Amorepacific Group Inc., Burberry Group Plc, Clive Christian Perfume Ltd., Coty Inc., L and L LUXURY CO. LTD., LOreal SA, LVMH Moet Hennessy Louis Vuitton SE, PVH Corp., Shiseido Co. Ltd., and The Estee Lauder Co. Inc. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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