Published Date: 14-Jul-2021
Industry Insights | Market Trends | Highest number of Tables | 24/7 Analyst Support
According to a new report Global Perfumes And Deodorants Market, published by KBV research, The Global Perfumes And Deodorants Market size is expected to reach $89.2 billion by 2027, rising at a market growth of 6.4% CAGR during the forecast period.
Based on type, the deodorants segment dominated the market with the largest market share in 2020 and would showcase similar trend during the forecast period. One of the major reasons that fuel this trend is that perfumes are generally more costly than deodorants, and thus deodorants are majorly marketed as mass-market products. In the last few years, there is a significant increase in the number of players entering the deodorant market segment, especially in nations like India and China.
The e-commerce market segment is projected to exhibit the fastest CAGR during the forecast period. The growth of online retail channels like Flaconi, Sephora, Amazon, and Parfum dreams has majorly impacted the growth of the e-commerce segment. There are many people who prefer the online purchase of perfumes & deodorants because most of the prominent brands provide significant discounts on their products through online channels.
Region-wise, North America emerged as a prominent region in the perfumes & deodorants market in 2020. It is owing to the factors like increasing demand for scented sprays, growing awareness among consumers related to hygiene management, and the rising accessibility of a broad range of perfumes & deodorants across each distribution channel. In addition, the growing popularity of functional products among US consumers is motivating various key players to widen their product portfolio to inculcate antiperspirants, which are effective on a person for a longer period.
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Unilever PLC, LVMH SE, Beiersdorf AG, L'Oreal Group, Estee Lauder Companies, Inc., Firmenich S.A., Revlon, Inc. (MacAndrews & Forbes), Giorgio Armani S.p.A, PVH Corporation (Calvin Klein), and Burberry Group PLC.
By Distribution Channel
Unique Offerings from KBV Research