Luxury Perfume Market Size to Grow by USD 4.20 bn | Increase in Demand from the Millennial Population to Drive Growth | Technavio
NEW YORK, Nov. 25, 2021 /PRNewswire/ -- The luxury perfume market size is set to grow by USD 4.20 bn from 2020 to 2025, according to Technavio. The report offers a detailed analysis of the current global market scenario and the overall market environment.
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The luxury perfume market is fragmented, and the degree of fragmentation will accelerate during the forecast period. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments while maintaining their positions in the slow-growing segments.
The report also covers the following areas:
Luxury Perfume Market 2021-2025: Segmentation
- Distribution Channel
- North America
- South America
Download a Free Sample for more information about various market segments
Luxury Perfume Market 2021-2025: Vendor Analysis and Scope
To help businesses improve their market position, Technavio's report provides a detailed analysis of around 25 vendors operating in the market. Some of the major vendors of the luxury perfume market include Amorepacific Group Inc., Burberry Group Plc, Clive Christian Perfume Ltd., Coty Inc., L and L LUXURY CO. LTD., LOreal SA, LVMH Moet Hennessy Louis Vuitton SE, PVH Corp., Shiseido Co. Ltd., and The Estee Lauder Co. Inc.
The increase in demand from the millennial population, replenishing personal grooming, and influential endorsements from celebrities and social media will offer immense growth opportunities. However, the competition from products that are available at affordable prices will hamper the market growth.
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Luxury Perfume Market 2021-2025: Regional Analysis
Technavio's market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities for vendors. This can help organizations in creating efficient business plans. Based on segmentation by geography, the luxury perfume market has been classified into five regions, namely Europe, North America, APAC, MEA, and South America. According to our analysis, Europe is expected to account for 37% of the growth of the market during the forecast period. Germany, the UK, and France are the key countries for the luxury perfume market in Europe. However, the growth of the market in Europe is expected to be slower than the growth of the market in other regions during the forecast period.
Luxury Perfume Market 2021-2025: Key Highlights
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist luxury perfume market growth during the next five years
- Estimation of the luxury perfume market size and its contribution to the parent market
- Forecast on upcoming trends and changes in consumer behavior
- The growth of the luxury perfume market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will impede the growth of luxury perfume market vendors
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Luxury Perfume Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 6.09%
Market growth 2021-2025
USD 4.20 billion
YoY growth (%)
Europe, North America, APAC, MEA, and South America
Performing market contribution
Europe at 37%
Key consumer countries
US, China, Germany, UK, and France
Leading companies, competitive strategies, consumer engagement scope
Amorepacific Group Inc., Burberry Group Plc, Clive Christian Perfume Ltd., Coty Inc., L and L LUXURY CO. LTD., LOreal SA, LVMH Moet Hennessy Louis Vuitton SE, PVH Corp., Shiseido Co. Ltd., and The Estee Lauder Co. Inc.
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
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