Perfume Market to Reach USD 69.25 Billion by 2030; Robust Demand for Beauty Products to Boost Market Growth

The global perfume market size is anticipated to witness skyrocketing growth by reaching USD 69.25 billion by 2030. Fortune Business Insights™, in its report titled "Perfume Market Size, Share & COVID-19 Impact Analysis, By Type (Perfume, Eau de Perfume, Eau de Toilette, Eau de Cologne, and Eau Fraiche), By Product (Mass and Premium), By End-user (Men and Women), By Distribution Channel (Online and Offline), and Regional Forecast, 2023-2030" shares that the market size stood at USD 45.85 billion in 2022 and is projected to exhibit a CAGR of 5.36% during 2023 and 2030. Robust demand for beauty products and the increasing popularity of waterless scents among consumers are expected to boost the growth of the market.

L’Oréal S.A. Completes Acquisition of Mugler’ and Azzaro to Expand its Business in the U.K.

L’Oréal S.A., a French beauty products provider, recently re-launched its luxury beauty brand, Lancôme, in India. The company will retail makeup, skincare, and fragrances under the Lancôme brand in India. The rising number of expected customers owing to increased disposable income has boosted demand for beauty products in smaller cities in India as well. Lancôme products will be available at 17 Sephora stores across 8 cities and online. This launch will be supported by an ad campaign, including influencer engagement, point of sale initiatives, and digital campaigns with Vogue and Sephora.

Consumer Preferences toward Online Shopping to Foster Market Growth

Increasing consumer shopping preferences and adoption of online retail are likely to propel industry progress. Increasing adoption of smartphones and development in 5G infrastructure is likely to boost the product demand. Online retailers incorporate attractive pricing, discounts, and offers to attract consumer's demand. It simplifies their shopping convenience and provides consumers with a variety of products. Online retail helps manufacturers to improve their sales and expand their reach. Further, manufacturers focus on providing strong flavors and oils that eliminate odors and boost the scent's shelf-life. These factors are likely to drive the perfume market growth.

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Prominent Companies Incorporate Expansion Strategies to Expand their Market Reach

The prominent companies operating in the market devise acquisition strategies to expand their market reach. Also, the adoption of research and development strategies enables companies to utilize effective ingredients and improve their product quality. This strategy enables companies to improve their brand image. Meanwhile, the adoption of technologically advanced production techniques can boost the companies' product quality, reduce labor costs, improve operational efficiency, and satisfy organizational efficiency. This strategy may enable companies to boost their market position. 

Notable Industry Development

• September 2022: The Estee Lauder Companies Inc., a leading beauty products manufacturer, launched a luxury scent collection. The launch will help the company to rival designer scents, which are existing in the market.

List of Key Players Profiled in the Report

• L’Oréal S.A.(France)


• Unilever Plc (U.K.)


• Coty Inc. (U.S.)


• The Proctor and Gamble Co. (U.S.)


• The Estee Lauder Companies Inc. (U.S.)


• Natura & Co. (Brazil)


• Avon Products Inc. (U.S.)


• Puig SA (Spain)


• Revlon Inc. (U.S.)


• Chanel Limited (France)


• Shiseido Company Limited (Japan)


• Beiersdorf AG (Germany)

Further Report Findings-

• North America captured majority of the global perfume market share in 2022. Evolving consumer preferences and rising spending capacity are likely to boost the product demand. Increasing adoption of digital devices and rising investments in the development of digital infrastructure are likely to boost the market growth.


• As per type, perfume the leading segment due to its fragrance concentration and incorporation of several oils. It lasts on the body for nearly 6-8 hours and eliminates odors effectively. These factors are likely to boost the market development. 


• According to distribution channel, the online segment captured a significant market share in 2022 due to the introduction of online shopping platforms such as Amazon, Parfumdreams, Flipkart, and others. These platforms are attracting customers to buy the required products online, thus boosting segment proliferation.

Table of Segmentation