Luxury Perfumes Market Research Report Information By Product Type (Perfume, Eau de Toilette, Eau de Perfume, Eau de Cologne, and Others), By End-User (Men, Women, and Unisex), By Distribution Channel (Store and Non-Store), and By Region (North America, Europe, Asia-Pacific, and Rest of the World)—Forecast till 2030

Luxury Perfumes Market Research (MRFR Insights)

Luxury Perfumes Market size is projected to reach approximately USD 24.2 billion by 2030, at a CAGR of 8.20% from 2022 to 2030. 

The global market is rising influence of celebrity endorsements coupled with the wide product availability on e-commerce platforms supported by discounted offers, doorstep delivery, faster product launches, etc., creating a positive outlook for the expensive luxury perfumes. Besides this, introducing innovative perfume variants that adapt quickly to consumers' skin pH levels is another significant growth-inducing factor. The emerging trend of gifting exclusive perfumes on special occasions, including festivals, birthdays, anniversaries, etc., further bolsters the global market for luxury perfume during the forecast period.

COVID-19 Impact Analysis

During the COVID-19 pandemic, the closure of beauty shops and grocery stores has affected product sales globally. Besides, in such a critical situation, companies face issues in conducting their sales, production, and R&D operations due to labor and raw material shortages, impacting the major players' businesses. For instance, in 2020, Lalique Group SA reported a 25% decrease in its fragrant essential oils business revenues.

Luxury Perfumes Market Dynamics

Increasing brand consciousness and increasing expenditure for luxury goods among millennials has supported market growth over the last few years. Owing to significant demand from the younger generation, major players have now come up with several offers on their products, along with customized packaging of luxury perfumes. This process makes the products quite affordable and drives the market growth. Furthermore, the increasing influence of social media on shopping habits and celebrity endorsements is likely to support market growth over the forecast period.

Luxury Perfumes Market Drivers

Ø  Companies introduce innovative fragrance solutions

Major players are launching innovative, touch less scent devices and Al-based solutions for regular scent utilizers. These solutions include providing a scent profile for individual users and suggesting a scent based on their flavor preferences. This will attract consumers toward such products, accelerating the perfume industry's growth during the forecast period.

Ø  Increasing demand for waterless scents

Nowadays, the customer prefers waterless hygiene items that decrease unpleasant odors instantly. Besides, they choose fragrances made up of sustainable materials, including vanilla beans, balsams, citrus oil, and others, to avoid headaches and eye & ear disorders due to chemical-based ones. This will offer newer market growth opportunities during the forecast period.

Market Restraints:

Ø  Large necessities of R&D investment

Companies hugely invest in R&D activities to provide innovative & disruptive scented items to globally premium perfume consumers. This incurs additional costs to the key players' businesses, thereby limiting industry growth. Additionally, uncertain consumer behavior toward buying hygiene items poses challenges to companies in introducing innovative products in newer markets. Besides, incidences of headaches, skin rashes, and other health-related issues among people due to the excessive usage of such products are restraining the market growth.

Market Opportunities:

• Growing consumer preference for online shopping

The growing influence of social media habits on shopping habits and celebrity endorsement will likely contribute to unique luxury perfume growth over the forecast period. In addition, the easy availability of high-end perfumes in various regions through an online platform has influenced sales of luxury niche perfume over the past few years. Furthermore, increasing promotions and attractive discounts offered by various e-commerce sites, such as Amazon, Flipkart, Myntra, and others, compel customers to buy products at reasonable rates. This, in turn, is giving rise to market growth.

• Growing demand for personal luxury goods in developing countries

The demand for personal luxury goods is growing with the disposable income of customers in developing nations. Among personal luxury goods, luxury cosmetics and perfumes have seen a growing trend among consumers, particularly women, who prefer to invest a huge amount in premium products. The demand for unisex luxury perfumes is increasing because of the combination of aromatic and complex fragrances.

Luxury Perfumes Market segmentation

Product Type Insights

The Luxury Perfumes Market segmentation, based on product type is perfume, Eau de perfume, eau de toilette, eau de cologne, and others. The perfume category held a major share in the Luxury Perfumes Market growth in 2021 and will continue its dominance during the forecast period as it has a huge amount of fragrance concentration and includes a huge percentage of essential oils compared to the other types. Besides this, the Eau de perfume was the fastest-growing category. This type is cheap luxury perfumes than the fragrant essential oils type and is more durable.

End-User Insights

Based on the end-user, the Luxury Perfumes Market segmentation has been divided into men, women, and unisex. The women category had a prominent share in 2021 as women populations are largely inclined towards sustainable fragrances for personal grooming. However, men were the fastest growing category due to increasing personal hygiene & grooming awareness among men.

Distribution Channel Insights

Based on the distribution channel, the global market is divided into stores and non-store. The non-store category had a prominent market share in 2021 owing to the rapid inclination of customers towards online shopping. Besides this, the store was the fastest growing category as at stores, consumers can physically check the fragrance and quality of the product before buying it.

Luxury Perfumes Market Share, by Region, 2021 (%)

Luxury Perfumes Market Overview, by Region

By region, the global market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America accounted for the most extensive market share. Asia-Pacific is projected to exhibit the highest CAGR during the review period.

North America

North America held a prominent market share in 2021 in the Luxury Perfumes Market. The higher demand for luxury perfume in the region is boosted by the high disposable income of individuals in the region, along with the modernized lifestyle of consumers. The leading women's luxury perfume brands focus on personalization in product offerings, gaining popularity among several consumer groups. The popularity of lighter-scented luxury perfumes among millennials and the availability of products in attractive packaging are expected to fuel the sales of luxury perfumes. Also, premiumization is playing a major role in the overall market for luxury perfume in the region.

Asia-Pacific

Asia-Pacific was the fastest-growing region the global market in 2021 owing to the increasing young population, high disposable incomes, increasing awareness regarding the product's benefits, and growing working-class population. According to the data presented by the Ministry of Statistics and Program Implementation (MOSPI), Government of India, in May 2019, India's per capita income is predicted to rise by 10%.

Luxury Perfumes Market Competitive Landscape

The market includes tier-1, tier-2, and local players. The tier-1 and tier-2 players have global reach with diverse product portfolios. Companies such as L’Oreal S.A., LVMH, Procter and G, Perfumania Holdings Inc., NaturaCosméticos S.A., and Bvlgari dominate the global market due to product differentiation, financial stability, strategic developments, and diversified regional presence. The players are concentrating on supporting research and development. Furthermore, they embrace strategic growth initiatives, such as development, joint ventures, product introduction, and partnerships, to strengthen their market position and capture an extensive customer base. For instance, in October 2022, High-end French spirits group Rémy Cointreau is moving into luxury fragrances by creating a new perfume house called MaisonPsyché. MaisonPsyché’s first five fragrances have spent time maturing in Rémy Martin's cellars in Cognac, inside small oak casks known as tone lets, specially designed by Seguin Moreau. The fragrances will be packaged in Baccarat crystal perfume bottles decorated with gold.

Prominent players in the Luxury Perfumes Market research include Gucci, Elizabeth Arden Inc., Prestige Beauty, Firmenich, DIOR, Salvatore Ferragamo, Coty Inc., Calvin Klein Inc., Avon Products Inc., ICR Spa, Chanel S.A., and Amore Pacific, among others.

Scope of the Luxury Perfumes Market Report

Product Type Outlook

• Perfume


• Eau de Perfume


• Eau de Toilette


• Eau de Cologne


• Others

End-User Outlook

• Men


• Women


• Unisex

Distribution Channel Outlook

• Store


• Non-Store

Region Outlook

North America

• US


• Canada


• Mexico

Europe

• UK


• Germany


• France


• Italy


• Spain


• Rest of Europe

Asia-Pacific

• China


• India


• Japan


• Australia and New Zealand


• Rest of Asia-Pacific

Rest of the World

• South America


• Middle East


• Africa

Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

Luxury Perfumes Market Forecast & Size:

To identify and estimate the market size for the Luxury Perfumes Market report segmented by   product type, end-user, and distribution channel by value (in US dollars). Also, to understand the consumption/ demand created by consumers of Luxury Perfumes Market forecast between 2022 and 2030

To identify the Luxury Perfumes Market growth and infer the drivers, restraints, opportunities, and challenges.

Market Influencing Factors:

To find out the factors which are affecting the Luxury Perfumes Market size

Impact of COVID-19:

To identify and understand the various factors involved in the market affected by the pandemic

Company Profiling:

To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company in the past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

Intended Audience

• Luxury Perfumes Manufacturers


• Raw Material Suppliers


• Retailers, Wholesalers, and Distributors


• Governments, Associations, and Industrial Bodies


• Luxury Perfumes Companies


• Investors and Trade Experts