Luxury Perfume Market Analysis Highlights the Impact of COVID-19 2020-2024 | Increase in Demand from Millennial Population to Boost the Market Growth | Technavio

Technavio has been monitoring the luxury perfume market and it is poised to grow by USD 2.43 billion during 2020-2024, progressing at a CAGR of almost 4% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

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Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report on COVID-19 Impacts

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period.

Frequently Asked Questions-

1.	What was the value of the global luxury perfume market in 2019?
A.	As per Technavio, the market was valued at USD 11.72 billion in 2019 and it is projected to reach USD 14.16 billion by 2024.
2.	At what rate is the market projected to grow in the forecast period?
A.	The market growth will accelerate at a CAGR of almost 4%.
3.	What are the key factors driving the market?
A.	The increase in demand from the millennial population and endorsements from celebrities are among the key factors driving the market growth.
4.	Who are the top players in the market?
A.	Chanel Ltd., Compagnie Financière Richemont SA, Coty Inc., Hermès International SA, Kering SA, LOreal SA, LVMH Moët Hennessy - Louis Vuitton, PVH Corp., Ralph Lauren Corp., and The Estee Lauder Companies Inc. are some of the major market participants.
5.	Based on geographic segmentation, which region is expected to hold the largest market share?
A.	Europe

To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

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An increase in demand from millennial population has been instrumental in driving the growth of the market.

Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Luxury Perfume Market 2020-2024: Segmentation

Luxury Perfume Market is segmented as below:

• End-user
  • Women
  • Men
  • Unisex
• Geography
  • Europe
  • North America
  • APAC
  • MEA
  • South America

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Luxury Perfume Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The luxury perfume market report covers the following areas:

• Luxury Perfume Market Size
• Luxury Perfume Market Trends
• Luxury Perfume Market Analysis

This study identifies endorsements from celebrities as one of the prime reasons driving the luxury perfume market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Luxury Perfume Market 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• 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
• Predictions 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 challenge the growth of luxury perfume market vendors

Table of Contents:

Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

• Five forces summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by End-user

• Market segments
• Comparison by End-user
• Women - Market size and forecast 2019-2024
• Men - Market size and forecast 2019-2024
• Unisex - Market size and forecast 2019-2024
• Market opportunity by End-user

Market Segmentation by Distribution channel

• Market segments
• Comparison by Distribution channel
• Offline - Market size and forecast 2019-2024
• Online - Market size and forecast 2019-2024
• Market opportunity by Distribution channel

Customer landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• Europe - Market size and forecast 2019-2024
• North America - Market size and forecast 2019-2024
• APAC - Market size and forecast 2019-2024
• MEA - Market size and forecast 2019-2024
• South America - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity by geography

Volume Drivers – Demand led growth

Market Challenges

Market Trends

Vendor Landscape

• Overview
• Vendor landscape
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• Chanel Ltd.
• Compagnie Financière Richemont SA
• Coty Inc.
• Hermès International SA
• Kering SA
• LOreal SA
• LVMH Moët Hennessy - Louis Vuitton
• PVH Corp.
• Ralph Lauren Corp.
• The Estee Lauder Companies Inc.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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