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Global Fragrance Market to Hit $70 Billion
According to a recent Fact.MR reporta, the global
fragrance market is expected to reach $70,000 million by
2022, increasing at a CAGR of 6.2% during the period.
Niche and Natural Fragrances
Leading the growth in the global fragrance market
is shifting consumer demands and the rise of niche
brands and personalized fragrances. Among the changes
in consumer preference include an increased demand
in natural perfume, due to consumers’ perception of
synthetic fragrances. However, due to the demand and
higher prices, the adoption rate is lower than synthetic
Additionally, customizable and niche fragrances are
further growing the market, as consumers are looking
for a more personalized fragrance experiences and exotic
scents. Smaller perfume brands have met this demand by
leveraging perfume blogs and social media platforms.
2022 Fragrance Projections
In addition to citing growth, the report included nine
projections for the global fragrance market, which include:
1. Soaps and detergents will remain preferred
among products, despite exhibiting low CAGR
2. Cosmetics and toiletries are estimated to be the
second largest product type segment.
3. Fine fragrances and household products will
grow the fastest, with fine fragrances being the
larger revenue generator.
4. Hypermarkets will dominate the global market
5. Supermarkets will remain the second largest
distribution channel for the market.
6. Specialized cosmetic stores are expected to see
the slowest growth in fragrance sales.
7. Europe will remain the most lucrative region,
attributing $20,000 million in revenue by 2022.
8. The Asia Pacific, excluding Japan, will grow at a
faster rate than North America.
9. The Middle East and Africa and Japan will
exhibit the lowest CAGRs through 2022.