Market Insights Consumer Beauty & Personal Care

Fragrances - Bulgaria

Bulgaria

The Fragrances market in Bulgaria is projected to generate total revenue of €66.35m in 2024.
This market segment is expected to experience an annual growth rate of 0.30% (CAGR 2024-2029).
In comparison to other countries globally, in the United States leads in terms of revenue generation in the Fragrances market, reaching €8,133m in 2024.
When considering the population size, the per person revenue in Bulgaria is estimated to be €10.02 in 2024.
Furthermore, it is predicted that 58% of sales in the Fragrances market in Bulgaria will be attributed to Non-Luxury by 2024.
Bulgaria, known for its rich history in rose cultivation, continues to dominate the fragrance market with its high-quality rose-based perfumes.

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.