The global fragrance market has witnessed substantial growth over the recent decades, mainly driven by ongoing innovation in terms of new product launches along with research and development and collaboration by the world’s major perfume producers. France — as the home of many leading perfumes and fragrance brands — has long been dominating the global fragrance market with the highest fragrance and perfume production and export values. As the global sales of perfumes and fragrances continue to be boosted by the overall increasing disposable income of consumers and their evolving buying patterns, France is expected to remain the world’s leader in the global fragrance market and offers great business opportunities to network with the top fragrance and perfume companies in France.
Fragrance, commonly known as perfume, is one of the most popular products in the global cosmetic industry, widely popular among both male and female consumers around the world. Perfumes are made from the mixture of fragrant essential oils or aroma compounds, fixatives, and solvents to give an aroma or pleasing scent. The natural ingredients used to manufacture perfumes include flowers, grasses, spices, fruits, woods, roots, resins, balsams, leaves, gums, and animal secretions. The global fragrance market is nowadays offering various types of perfume depending upon the usage, while the major types of fragrance include essential oil, eau de toilette, deodorant, and parfum etc.
Global Fragrance Market Segmentation
As the global fragrance market size continues to grow isn’t just a new trend — according to a recent fragrance market report from IMARC Group, the global fragrance market was worth US$ 37.4 Billion in 2017, growing at a CAGR of around 3.7% during 2010-2017. The overall market is expected to US$70 billion by 2022. The rising trend of personal grooming along with a growing demand for youth-oriented as well as exotic fragrances are the major factors driving the fragrance market growth. The increasing customer spending on luxury fragrances owing to higher disposable incomes and improving standards of living are further boosting the demand for perfumes in the global market.
Geographically, North America is the largest market for fragrance products, followed by Europe and Asia-Pacific. Asia-Pacific region is expected to show the highest growth for fragrance products in the coming future, owing to increasing domestic demand in countries such as India and China. The expanding global fragrance market will be driven by the increasing population globally, coupled with the rising disposable income in countries such as India and China. Increasing disposable income allow consumers to spend more on luxury products among which fragrance plays a key role.
As for the product type, the Wise Guy Reports suggests that the Eau de Parfum segment will dominate the perfume and fragrance market and is projected to reach USD 33.49 billion by 2023 at a CAGR of 6.33% in terms of value. The Eau de Toilette segment is projected to grow at a substantial CAGR of 6.16% to reach USD 20.02 billion by 2023. Among the consumer group, the women segment will dominate the perfume and fragrance market and is projected to reach USD 37.24 billion by 2023 at a CAGR of 5.67% in terms of value. The men’s segment is projected to grow at a substantial CAGR of 6.53% to reach USD 23.85 billion by 2023.
France Leads the Global Fragrance Market
France is well-known around the world for its great reputation and their long history of producing top-notch fragrance and perfume products. Since many of the greatest brands in the global fragrance industry, such as Chanel, Christian Dior or Estée Lauder are all French, and dominate the luxury fragrance market. France also holds a very dominant place in terms of international perfume exports and sales. The market size of the fragrance and perfume industry in France has surpassed 2 billion Euros (US$2.33 billion). Despite the downward sale performance in the French prestige fragrance sector over the last few years, France holds the title as the largest fragrance producer and fragrance exporter in the world.
According to the latest trading statistics from ITC, the world’s total fragrance and perfume export value recorded nearly US$18 billion in 2017. France exported total US$4.8 billion worth of fragrance products to the global market in 2017, representing over 26.8% of the world’s total perfume exports in that year, making it the world’s largest fragrance exporter once again. Many of the world’s major fragrance consuming markets, such as Germany, the USA, Spain, the UK, Italy, the UAE, and Singapore are some of the top importers of French perfumes.
Connect with Top Fragrance and Perfume Manufacturers in France
The prominence of the fragrance and perfume industry in France has attracted a significant number of buyers and traders from all over the world to source fragrance and perfume products in France. To help your business stays at the top of the industry, BizVibe provides the best solutions to source the products and make the best business deals with the top fragrance and perfume companies in France. Don’t miss your chance to connect with the best industry suppliers, manufacturers, and exporters on BizVibe.
Whether you’re conducting competitive research or looking for new and reliable suppliers, quality producers or top wholesalers, BizVibe makes it easy to grow your business. No matter what your professional goals, BizVibe will help you reach them by introducing you to key industry players and decision-makers from France’s fragrance industry.
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