Market Insights Consumer Beauty & Personal Care

Fragrances - Mexico

Mexico

In 2024, the Fragrances market in Mexico is projected to generate a revenue of €1.19bn.
This market segment is expected to grow annually by 1.78% (CAGR 2024-2029).
When compared globally, in the United States leads in terms of revenue, with €8,133m in 2024.
Considering the population size, in 2024, per person revenues in Mexico are estimated to reach €9.22.
Furthermore, by 2024, approximately 84% of sales in the Fragrances market will be attributed to Non-Luxury.
Despite a growing interest in luxury fragrances, the Mexican fragrance market remains dominated by affordable, mass-market options.

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.