Market Insights Consumer Beauty & Personal Care

Fragrances - Bhutan

Bhutan

The Fragrances market in Bhutan is projected to generate a revenue of €6.87m in 2024.
It is anticipated to witness an annual growth rate of 3.95% (CAGR 2024-2029).
In comparison to other countries, in the United States leads the global market with a revenue of €8,133m in 2024.
When considering the population, each person in Bhutan is estimated to contribute €8.68 in revenue in 2024.
Additionally, it is predicted that 71% of the sales in the Fragrances market in Bhutan by 2024 will be attributed to Non-Luxury.
Bhutan's fragrance market is witnessing a surge in demand for traditional incense sticks, reflecting the country's rich cultural heritage and spiritual practices.

Key regions: Malaysia, Worldwide, United Arab Emirates, United Kingdom, Indonesia

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Methodology

Data coverage:

The data encompasses B2C enterprises. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations such as population, GDP per capita, and Human Development Index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, multiple forecasting techniques based on different forecasting methods, such as Autoregressive Integrated Moving Average (ARIMA) and exponential trend smoothing, can provide the most accurate forecasts.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.