The Global Luxury Perfumes Market has been classified, by distribution channel, into store-based and non-store based. The store-based segment has been further segregated into hypermarkets and supermarkets, specialty stores, and others. The store-based segment is expected to generate higher revenue, with the hypermarkets and supermarkets sub-segment being the largest due to strong vendor networks, high product appeal, and the convenience of understanding the fragrances through several testers available. The non-store-based segment is expected to register the higher CAGR during the assessment period owing to technological advancements in the e-commerce industry, detailed information on websites, and growing consumer preference for online purchase.
Market overview
Luxury perfumes are the part of the fashion world, and it has extensively paved its way in various demographics across the globe especially men, women and unisex. The need for perfume has been quite common for the past many years and the introduction of various types of flavours in the perfume fragrance is increasing the demand for luxury perfumes. These premium perfumes are in high demand in the cosmetics sector and with the changing lifestyle of the customers, more and more types of luxury perfumes are being launched.
The luxury perfumes have been gaining popularity since the twentieth century and different perfume brands have been offering luxurious fragrances that have established an iconic status among the upper-class population of the world. The preference for style, fashion, and glamour is uplifting the demand for luxurious perfumes worldwide.
Regional analysis
The global luxury perfume market has been analyzed based on the key regions that are dominating the global market. These regions are Europe, North America, Asia-Pacific (China, India, Japan, Australia, and New Zealand) and the Rest of the World.
As seen in the report, Europe (Germany, UK, Italy, Spain, France, and Rest of Europe) is expected to dominate the luxury perfume market owing to the high presence of luxury perfume brands and the high purchasing power of the customers in this region. The growing retail sales and the advancement in technology is further fuelling the growth of the market. Asia-Pacific is also expected to register a high growth rate in the luxury perfume market due to the increasing consumer preference towards luxury goods. The rapid urbanization is also a factor that is contributing to the growth of the global luxury perfume market.
Key Players
Some of the key players in the global Luxury Perfumes Market are Chanel S.A. (France), Guccio Gucci S.p.A. (Italy), The Estée Lauder Companies Inc. (US), Hermès International S.A. (France), Ralph Lauren Corporation (US), Clive Christian Perfume Limited (UK), Louis Vuitton Malletier S.A (France), Hannaford Bros. Co., LLC (US), Gianni Versace S.p.A. (Italy), and Dolce & Gabbana S.R.L. (Italy).
Market segmentation
The market for luxury perfumes has always been at a surge with the expansion and extension of the market in various regions of the world. The global Luxury Perfumes Market is widespread and can be segmented based on the product type, end-user, and distribution channels. As per the product type, the global luxury perfume market can be split into:
- Eau de toilette (EDT)
- Eau de parfum (EDP)
- Parfum
- Eau de cologne (EDC)
- Others
The global Luxury Perfumes Market can be segmented on the basis of end-user as:
- Women
- Men
- Unisex
And lastly based on the distribution channels, the global luxury perfume market can be classified into:
- Non-store based
- Store-based
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Industry news
Luxury perfume makers Dior and Givenchy have offered to help the French health authorities amid the COVID-19 pandemic that has struck hard in France. These luxury goods conglomerates will be providing the hand sanitizer for free to the healthcare facilities and clinics.
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