Fragrance & Perfume Market Size & Share, by Product Type (Parfum or De Parfum, Eau De Parfum, Eau De Toilette, Eau De Cologne); Distribution Channel (Online, Offline); Consumer Group (Women, Men, Unisex) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5376
  • Published Date: Nov 16, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Fragrance & Perfume Market size is estimated to reach USD 70 Billion by the end of 2036, growing at a CAGR of 5% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of fragrance & perfume was USD 50 Billion. The growth of the market can be attributed to the increasing demand for perfumes. Globally, around 28% of customers spend a medium amount on perfume, with nearly 18% purchasing high-end/premium versions. Freshness has emerged as a major consumer trend in recent years. Buyers are becoming even more considerate of the things they add to their shopping carts, preferring those that make a significant difference in their everyday lives.

In addition to these, factors that are believed to fuel the market growth of fragrance and perfume is the emergence of consultancy services, which is helping companies to understand the manufacturing and distribution of perfumes and other fragrances. Consultancy service is a boon to any budding organization, who wants to learn about the manufacturing of the products even flavors and notes of the perfumes. The consultancy may produce a comprehensive report that includes subjects such as capital requirements, raw material sourcing, plant economics, development of sites, and fragrance testing and evaluation services. Aside from that, these firms offer Aroma consultancy to vendors, contract manufacturers, companies, retailers, and a variety of other organizations. They assist their customers in creating a high-end product by leading them through the decision-making process in search of the proper scent that complements their brand image and market positioning. 

Fragrance & Perfume Market Overview
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Fragrance & Perfume Sector: Growth Drivers and Challenges

Growth Drivers

  • Growing Population of Gen Z and Millennials – Luxury brands such as Chanel, Dior, Prada, and La Mer are capturing the desired eyes and wallets of Gen Z customers as that group enters the workforce. Gen Z has approximately 60 million customers. Around 60% of Generation Z was categorized as economically well, which indicated that their all necessary bill is covered and still they are with capital left over to spend on luxuries or add to their savings. Because of social media, influencers, and celebrities, luxury is more prevalent in their lives than it was in previous generations. For Gen-Z and millennials, luxury means sophistication, they do not pay attention to the price but focus on values. For them. It's all about branding, the aspirations of the brand, and the quality of the product.
  •  Rising Practice of Aromatherapy– Essential oils have been utilized to improve a person's health or mood for approximately 6,000 years. Aromatherapy, often known as essential oil treatment, includes a group of traditional, alternative, and additional therapies that make use of essential oils and other aromatic plant chemicals. Essential oils have been discovered to have varying degrees of antimicrobial action and are thought to have antiviral, nematicidal, antifungal, insecticidal, and antioxidant activities. Aromatherapy frequently supplements other treatments for those suffering from diseases such as anxiety. Aromatherapy is also used to preserve wellness and generally make people feel better.
  • Increasing Celebrity Endorsement for Fragrances – The fragrance demand is predicted to increase significantly, which is one of the key reasons why smells will be a big licensing potential for celebrities. With their licensing deals, celebrities usually don't have too many duties, and manufacturers contribute to their income. Perfume arrangements can be especially tempting because celebrities typically receive a royalty rate of 5-10%, as well as an initial payment for licensing their name. Many celebrities are entering the fragrance industry since it provides them with a win-win situation.


  • Rising Demand for Non-Scented Products- Consumers appear to be increasingly requesting fragrance-free goods, whether for household cleaning or personal care. Some people assume that by doing so, they are getting a more natural product. While not everyone has the same reaction, many people have allergy-like symptoms after coming into touch with fragrance compounds. As a result, the number of companies offering fragrance-free products has increased. Sometimes, fragrance-free and unscented are used as synonyms but they are not the same.  Fragrance-free products do not have any synthetic or natural fragrance ingredients. On the other hand, unscented items do not often have a discernible aroma, however, they may contain fragrance compounds that conceal or neutralize the odors of other substances.
  • Consumers Do Not Interact with Pre-Used Scent
  • Deodrants are the Sources of Indoor Pollution

Fragrance & Perfume Market: Key Insights

Base Year


Forecast Year




Base Year Market Size (2023)

~ USD 50 Billion

Forecast Year Market Size (2036)

~ USD 70 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Fragrance & Perfume Segmentation

Distribution Channel (Online, Offline)

The online segment is expected to account for 60% of the fragrance & perfume market share by 2036. The growth of the category can be attributed to the expanding network of online purchasing and the emergence of several e-commerce industries. People are becoming more conscious of the numerous sorts of fragrances and their effects on mood and well-being as a result of the amount of information about perfumes available on digital platforms. The increased popularity of e-commerce makes it easier for customers to buy perfume online. Furthermore, around 773 million fragrances and perfumes are sold via e-commerce portals, making it an excellent channel for increasing sales.

Consumer Group (Women, Men, Unisex)

The women segment in the fragrance & perfume market is expected to garner a significant share of around 50% in the year 2036. The rising share of women using perfumes is the major factor that is driving the segment’s growth. In the United States, approximately 41% of women use perfume on a regular basis, compared to 39% of men. Perfume is used by around 27% of women at least once a week. Furthermore, rising female income has increased their spending on personal care and luxury items. The average annual income of millennial women perfume buyers is roughly USD 40,000.

Our in-depth analysis of the global fragrance & perfume market includes the following segments:

         Product Type

  • Parfum or De Parfum
  • Eau De Parfum
  • Eau De Toilette
  • Eau De Cologne

        Distribution Channel

  • Online
  • Offline

        Consumer Group

  • Women
  • Men
  • Unisex

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Fragrance & Perfume Industry- Regional Synopsis

APAC Market Forecast

The fragrance & perfume market in Asia Pacific is projected to be the largest with a share of about 36% by the end of 2036. The growth of the market can be attributed majorly to the increasing demand for perfumes. Between 2016 and 2020, China's perfume sales grew by more than 20% year on year, and this trend is expected to continue as Gen-Z becomes the key driver of national consumption. The share of Chinese urban consumers buying perfume for only personal uses was around 48% in 2021, while the proportion purchasing scents as gifts stayed stable at approximately 41%.

Europe Market Statistics

The European fragrance & perfume market is estimated to be the second largest, registering a share of about 24% by the end of 2036. The growth of the market can be attributed majorly to the growing development of industry. Europe is home to some of the best perfume manufacturers in the world, moreover, the industry contributes significantly to the region’s economy, and therefore government brings out new opportunities for its further development. For instance, as part of the European Union's 'Industry Weeks' program, IFRA, and their French member association, Prodarom, hosted two roundtable discussions on how the fragrance industry can contribute to the sector's sustainability and its significance in the Green and Digital transition.

Research Nester
Fragrance & Perfume Market Region
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Companies Dominating the Fragrance & Perfume Market

    • The Avon Company
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • CHANEL
    • Coty Inc.
    • LVMH Moet Hennessy-Louis Vuitton
    • The Estée Lauder Companies
    • Revlon
    • L'Oréal Groupe
    • Givaudan
    • Hermès
    • KERING

In the News

  • March 2022: L'Oréal Groupe, in collaboration with neurotech leader Emotiv, introduces a new device to assist consumers in customizing their fragrance preferences. The collaboration combines an Emotiv neurotech device with L'Oréal's unique smells and algorithms. This collaboration aims to disrupt the whole cosmetics business because it is the first time consumers will have access to a cutting-edge, in-store experience that leverages neuroscience to deliver personalized, precise scent suggestions. To correctly identify and monitor behavior, preferences, stress, and concentration in real-world scenarios, the headset employs machine learning algorithms that analyze EEG while users experience patented scent families.
  • July 2022: Chanel has released the Gabrielle Chanel Eau de Parfum and Gabrielle Chanel Essence Twist & Spray. The Eau de Parfum is only available online, while the Essence Twist and Spray is available in home markets and select global travel retail outlets. The fragrance Gabrielle Chanel has been updated with more strong floral undertones. It begins with top notes of Orange Blossom, Jasmine, and Ylang-Ylang, followed by intense heart notes of Tuberose and base notes of Vanilla and Sandalwood.

Author Credits:  Anil Kumar, Ipsheeta Dash

  • Report ID: 5376
  • Published Date: Nov 16, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing demand for home fragrances, and rising use of deodorants and perfumes are the major factors driving the market growth.

The market size of fragrance & perfume is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2024-2036.

The major players in the market are The Avon Company, CHANEL, Coty Inc., LVMH Moet Hennessy-Louis Vuitton, The Estée Lauder Companies, Revlon, L'Oréal Groupe, Givaudan, Hermès, and KERING

The women segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Fragrance & Perfume Market Report Scope

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