Premiumization has facilitated a bridge between the desirability of the luxury experience and the necessity of mass market
PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, UNITED STATE, March 21, 2022 /
EINPresswire.com/ -- According to a new report published by Allied Market Research titled, "
Luxury Perfume Market by Price, End User, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2019-2026," the luxury perfume market size was valued at $11.7 billion in 2018 and is expected to reach $16.8 billion by 2026, registering a CAGR of 5.3% from 2019 to 2026. In 2017, Asia-pacific accounted for nearly 30.3% share of the luxury perfume market.
Drive and growth of the luxury perfume market during the market forecast 2026:-
According to International Fragrance Association, artisanal and niche fragrances are the fastest growing segment of the fragrance segment. The significant growth of the segment is attributable to the fact that majority of target customers seek for natural or organic products for its consumption. Artisanal perfumes are processed with natural and exotic ingredients instead of synthetic elements. They are usually produced in smaller quantities and not distributed widely but sold through limited retail formats. Taking this customer buying behavior into consideration, most of the key players in the global luxury perfume market have been strategizing on acquiring several key artisanal perfume manufacturers. For instance, in 2015, Japan based Shiseido purchased independent perfumer Serge Lutens. Similarly, in 2016, L’Oréal acquired Atelier Cologne. Key mergers and acquisitions initiated by manufacturers expected to drive the growth of the market during the luxury perfume market forecast.
Request For Sample :-
https://www.alliedmarketresearch.com/request-sample/6189
Avenue growth of the global luxury perfume market:-
Celebrity fragrance is another segment contributing to the growth of the global luxury perfume market analysis. Celebrity fragrances are those perfumes and fragrances that are branded and promoted by celebrities. Influence of the celebrity in the fragrance segment, has shown positive growth in the overall parent market in terms of value sales. As per the sources, celebrity fragrance sales have increased significantly in terms of value over the past five years specifically in U.S. and UK. Hence, celebrity branding and endorsement provides an avenue for the growth of the global luxury perfume market in terms of value sales.
Key Findings of the Luxury Perfume Market:
In 2018, by price, the $100 - $200 priced luxury perfumes segment accounted for around higher market share, growing at a CAGR of 5.6% from 2019 to 2026.
In 2018, by end user, the female segment accounted for higher luxury perfume market share.
In 2018, by region, Asia-pacific accounted for a higher value luxury perfume market share.
Key revenue opportunities, growth factors, and luxury perfume market trends in emerging economies are comprehensive highlighted in the report.
Surge and demand Luxury Perfume Market:
Most of the developed countries have witnessed surging demand for luxury perfume products. For instance, as per the sources, the UK premium fragrance revenue sales increased by nearly 8.0% in 2016. However, the overall fragrance market of the country saw a decline by 2.5%. This is attributable to the rise in per capita income of target customers coupled with extended product offerings of luxury perfume manufacturers. Thus surge in demand for various fragrance products triggers growth of the market.
Premiumization has facilitated a bridge between the desirability of the luxury experience and the necessity of mass market. As a result, premiumization play a key role in the overall luxury perfume market growth. Today’s customer seek for superior quality and content when it comes to using any kind of consumer good products including perfumes irrespective of its high end price tags. This results in increase in demand for premium brand perfumes.
Get detailed COVID-19 impact analysis on the Luxury Perfume Market :-
https://www.alliedmarketresearch.com/request-for-customization/6189?reqfor=covid
The Study Will Help the Readers-
1. Acknowledge the complete market dynamics.
2. Inspect the competitive scenario along with the future market landscape with the help of different strictures such as Porter’s five forces and parent/peer market.
3. Understand the impact of government regulations during the Covid-19 pandemic and evaluate the market throughout the global health crisis.
4. Consider the portfolios of the major market players operational in the market coupled with the comprehensive study of the products and services they offer.
Reasons to buy:
• Procure strategically important competitor information, analysis, and insights to formulate effective R&D strategies.
• Recognize emerging players with potentially strong product portfolio and create effective counter-strategies to gain competitive advantage.
• Classify potential new clients or partners in the target demographic.
• Develop tactical initiatives by understanding the focus areas of leading companies.
• Plan mergers and acquisitions meritoriously by identifying Top Manufacturer.
• Develop and design in-licensing and out-licensing strategies by identifying prospective partners with the most attractive projects to enhance and expand business potential and Scope.
• Report will be updated with the latest data and delivered to you within 2-4 working days of order.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis.
• Create regional and country strategies on the basis of local data and analysis.
Buy Now :-
https://www.alliedmarketresearch.com/checkout-final/fbd5d9c7cb582d6186fd1d557ce2f388
Prime Benefits:
The report includes Porter’s Five Forces analysis, SWOT analysis to understand the ability of buyers and suppliers, which enables business investors to devise sound, fruitful business decisions.
The study covers a detailed study of the latest market trends and market size coupled with a forecast of the Luxury Perfume Market during the forecast period.
The report offers an analysis of the potential of the market across various geographical regions along with revenue contribution.
The study includes a detailed analysis of the key market players that are active in the market.
Similar Report :-
Beauty Tools Market https://www.alliedmarketresearch.com/beauty-tools-market-A10624
Biotin Supplement Market https://www.alliedmarketresearch.com/biotin-supplement-market-A10616
David Correa
Allied Analytics LLP
800-792-5285
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn