Market Insights Consumer Beauty & Personal Care

Fragrances - Worldwide

Worldwide

The Fragrances market worldwide is projected to generate a revenue of €54.73bn in 2024.
It is expected to exhibit an annual growth rate of 3.08% (CAGR 2024-2028).
When compared globally, in the United States leads in terms of revenue generation, with €8,102m expected in 2024.
In terms of per capita revenues, each person worldwide is estimated to contribute €7.06 in 2024.
Furthermore, it is predicted that 72% of the total sales in the Fragrances market by 2024 will be attributed to Non-Luxury.
Worldwide, fragrances are becoming increasingly popular as consumers seek to express their individuality and enhance their personal style.

Key regions: South Korea, Worldwide, United Kingdom, Malaysia, United Arab Emirates

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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.