Luxury perfume market size to grow by USD 4.20 billion | Increasing demand from the millennial population to drive growth

NEW YORK, 25 November 2021 / PRNewswire / – The size of the luxury perfume market is expected to grow by $ 4.20 billion from 2020 to 2025, according to Technavio. The report offers a detailed analysis of the current global market scenario and the overall market environment.

Read a free sample report explore growth opportunities in the luxury perfume market

The luxury perfume market is fragmented, and the degree of fragmentation will accelerate over the forecast period. To take advantage of current opportunities, market sellers need to strengthen their presence in fast growing segments while maintaining their positions in slow growing segments.

The report also covers the following areas:

Luxury Perfume Market 2021-2025: Segmentation

• Final user

• Distribution channel

• Geography

Download a free sample for more information on the different market segments

Luxury Fragrances Market 2021-2025: Analysis and Scope of Suppliers

To help companies improve their position in the market, Technavio report provides detailed analysis of around 25 vendors operating in the market. Some of the major vendors in 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 Estée Lauder Co. Inc.

Rising demand from millennials, personal grooming renewal, and influential celebrity and social media supporters will offer immense opportunities for growth. However, the competition of products available at affordable prices will hamper market growth.

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Luxury Perfume Market 2021-2025: Regional Analysis

Technavio’s market research report contains in-depth information about competitive intelligence, marketing gaps, and regional opportunities for vendors. It can help organizations create effective business plans. On the basis of segmentation by geography, the luxury perfume market has been categorized 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 market growth during the forecast period. Germany, the United Kingdom and France are the key countries for the luxury perfume market in Europe. However, the growth of the Europe is expected to be slower than the market growth in other regions during the forecast period.

The story continues

Luxury Perfume Market 2021-2025: Highlights

• Market CAGR during the forecast period 2021-2025

• Detailed information on the factors that will contribute to the growth of the luxury perfume market over the next five years

• Estimation of the size of the luxury perfume market and its contribution to the parent market

• Prediction of upcoming trends and changes in consumer behavior

• The growth of the luxury perfume market

• Market competitive landscape analysis and detailed supplier information

• Complete details of the factors that will hamper the growth of sellers of the Luxury Perfume Market

Associated reports:

• Lip Gloss Market: The lip gloss market has been segmented by finish (gloss, matte, glitter, and others) and geography (Europe, APAC, North America, South America, and MEA). Download a free sample report

• Oral Care Market: The oral care market has been segmented by distribution channel (offline and online) and geography (Europe, North America, APAC, South America, and MEA). Download a free sample report

Download the latest free sample report for additional highlights in the luxury fragrance market

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Technavio is one of the world’s leading technology research and consulting companies. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialist analysts, Technavio’s report library includes over 17,000 and more reports, spanning 800 technologies, spanning 50 countries. Their customer base consists of companies of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research and actionable market intelligence to identify opportunities in existing markets. and potentials and assess their competitive positions in changing market scenarios.

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SOURCE Technavio