Innovative Product Launches & Advancing Male Grooming Drives the Global Fragrances and Perfumes Market, According to New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on the Fragrances and Perfumes markets. The global Fragrances and Perfumes market is forecast to reach about US$45.6 billion by 2018, driven primarily by growth expected in the underpenetrated emerging markets and innovative product launches.

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Fragrances and Perfumes: A Global Strategic Business Report

San Jose, California (PRWEB) March 04, 2013

Follow us on LinkedIn – The global market for Fragrances and Perfumes traditionally represents one of the strongest and largest sectors within the Cosmetics and Toiletries market. The global fragrances and perfumes market is comprised of the largest regional markets of Europe, Latin America, and the US as well as emerging markets, such as Asia-Pacific. Europe represents the largest regional market, followed by Latin America and the US. Regionally, the global fragrances and perfumes market is highly polarized and fragmented, given the extremely faddish fashion trends dictating the market’s fortunes.

Though developed regions continue as major regions for the already matured market profile for fragrances and perfumes, limited growth in population, and most importantly the growing aging population, which constitutes for lesser usage of perfumes and fragrances, has brought down the pace of growth in these regions. However, the “feel good” factor associated with fragrances and perfumes, increasing demand from young men and women, the expected growth in men’s fragrances segment, new product innovations, and growing popularity of celebrity scents are some of the major factors triggering growth in the developed and maturing markets over the coming years. On the other hand the growth emanating from the developing regions including Asia-Pacific and Latin America is expected to be very strong, which is expected to be the single largest factor propelling the fragrances and perfumes market in the coming years.

Though the fragrances and perfumes market is relatively new in the Asia-Pacific region, it has developed into one of the mainstream regions for growth, backed by the increasing consumer interest in cosmetics. Similarly, the Fragrances and Perfumes market in Latin America also extends immense opportunities given the facts that fragrances represent an integral part of the grooming scene in the region, especially when the economy exhibits steady and strong growth triggering increased trade ups from cheaper fragrances to premium fragrances. One of the strongest and steadily growing markets for fragrances and perfumes with high penetration, the Middle-East and Africa is expected to garner high growth owing to the added value growth along with volume growth emanating from the emerging nations in the African subcontinent.

Segment-wise, women’s fragrances has been traditionally leading the overall market, backed by the age old association of women with beauty and fragrances. As stated by the new market research report on Fragrances and Perfumes, women’s fragrances are expected to continue to witness strong demand over the coming years, with innovative products expected to propel market growth further.

Traditionally, a difficult segment to generate sales, men’s fragrances and perfumes is beginning to ease, and cave in to the charms of fragrances and perfumes. Subsequent to the change in perceptions towards the importance of male grooming and the importance of looking attractive and smelling good, the men’s fragrance segment is expected to exhibit greater growth than ever before. In addition, growing importance of grooming among teenagers and young adults are also expected to boost the market prospects in the coming years. When it comes to Unisex fragrances and perfumes, though their importance in the developed and mature markets, including Europe, is exhibiting a slowdown due chiefly to the transition to gender-specific fragrances, the segment is expected to gather strength from the emerging markets, including Asia-Pacific and Latin America, where the market is not highly evolved as in Europe and the US.

The global market for fragrances and perfumes is dominated by premium fragrances as the larger markets, including Europe and the US, are led by the premium or fine fragrances segment. The US emerges as the single largest market for premium fragrances followed by European countries including France and Germany. In contrast, the mass fragrances segment draws its strength from the fragrances markets in developing regions including Brazil, which emerged as the largest market for mass fragrances globally.

The worldwide market for fragrances and perfumes is a launch driven market with a large number of new product launches being witnessed every year. The market is highly fragmented with a large number of players in the market competing intensely for greater market presence. Major players in the market include Avon Products, Bulgari Parfums, Chanel SA, Coty Inc., Elizabeth Arden, Estée Lauder Companies, Gucci Group, Gianni Versace, Fifth & Pacific Companies, L’Oreal, LVMH Group, Procter & Gamble, Puig Beauty & Fashion Group, and Revlon, among others.

The research report titled “Fragrances and Perfumes: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of the Fragrances and Perfumes market, impact of the recent economic recession and the ongoing Euro-zone crisis on the sales of Fragrances and Perfumes, current market trends, future prospects, key growth drivers, issues and concerns, leading fragrance brands, new product launches, strategic corporate deals, and profiles of major/niche global as well as regional market participants. The report analyzes market data and analytics in US$ for the period 2010 through 2018 for regions, including the US, Canada, Japan, Europe, Asia-Pacific, Middle-East and Africa, and Latin-America. Also, a six-year (2004-2009) historic analysis is provided for an additional perspective.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Fragrances_and_Perfumes_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
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Email: press(at)StrategyR(dot)com
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