Fragrance Market To Report $74.76 Billion By 2030 | CAGR 4.7%

Fragrance Market Growth & Trends

The global fragrance market size is expected to reach USD 74.76 billion by 2030, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 4.7% from 2024 to 2030.  Rising awareness regarding cleanliness and personal hygiene among middle-class income groups in the emerging economies including India, China, Thailand, Vietnam, and Brazil is expected to expand the scope of fragrances over the forecast period.

Personal care is anticipated to emerge as prominent application segment owing to increasing demand for the products including perfume, deodorants, soap, talcum powder, cream, and hair oil. Moreover, rising demand for car and room fresheners coupled with the popularity of aromatherapy in households is anticipated to further fuel the growth. In addition, hospitality has become one of the emerging sectors for fragrances owing to their rising usage to create a pleasant environment. The sector has significant demand for different kinds of fragrances including jasmine, lavender, and eucalyptus which boost up consumers’ mood and create a lively environment.

Key market participants are L’Oréal Group; Unilever; The Procter & Gamble Company; Kering S.A.; CHANEL International B.V.; LVMH Group; Givaudan; Revlon Inc.; Firmenich International SA; Estee Lauder Companies Inc.; Coty Inc.; and Giorgio Armani S.p.A. Some of the manufacturers are focusing on R&D of organic products to expand the product portfolio. For instance, in June 2018 Elsa’s Organic Skin Foods, a U.K. based company, launched Ocean Natural Deodorant Crème. The product is a silk to powder deodorant balm contains natural antibacterial such as Rose Geranium, Tea Tree, and Patchouli.

 Request a free sample copy or view report summary: Fragrance Market Report

Fragrance Market Report Highlights

• Deodorants accounted the largest market revenue share of 46.0% in 2023. The emphasis on personal grooming and hygiene drives demand for deodorants, fueled by the global fitness trend and increased gym usage.

• Personal care dominated the market and accounted for a share of 48.2% in 2023. Fragrances are increasingly being integrated into a widening range of personal care products, extending beyond traditional perfumes and deodorants to body lotions, shower gels, shampoos, conditioners, makeup, and beard care products.

• Offline distribution channels dominated the market with a revenue share of 91.9% in 2023.

• North America fragrance market dominated the global fragrance market with a revenue share of 33.4% in 2023.

Fragrance Market Segmentation

Grand View Research has segmented the global fragrance market on the basis of product, application, distribution channel, and region:

Fragrance Product Outlook (Revenue, USD Million, 2018 - 2030)

• Deodorants

• Perfumes

• Other Products

Fragrance Application Outlook (Revenue, USD Million, 2018 - 2030)

• Personal Care

• Household Care

• Other Applications

Fragrance Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

• Offline

• Online

Fragrance Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • Japan

  • India

  • Australia

  • South Korea

• Latin America

  • Brazil

• Middle East and Africa (MEA)

  • South Africa

List of Key Players of Fragrance Market

• Natura&Co

• L’Oréal

• LVMH

• The Estée Lauder Companies Inc.

• KERING

• Coty Inc.

• CHANEL

• PVH Corp.

• Burberry Group plc

• Dolce & Gabbana S.R.L.

• Shiseido Company