Women in the US are more likely to use perfumes than men. These individuals buy perfumes as a personal treat or to enhance their mood. They prefer smaller sized bottles of perfumes as it allows them to experiment with different scents. They also consider samples important, this explains why they are more likely to buy perfumes in brick and mortar stores, rather than online. While women purchase a new perfume once a month, men only purchase it once or twice a year. They tend to research fragrances online, by looking at reviews and scent notes, before actually buying them. The popularity of online shopping among perfume buyers is fueled by the price sensitivity of these shoppers, specifically in relation to discounts. The fast growth of specialized scents in fabric softeners, household cleaners and body sprays has helped America to smell sweeter and cleaner than ever. Even storefronts and airlines are rigging up scent machines to bathe customers in the companies' trademarked aromas. According to the report, "US Perfume Market Overview, 2027," published by Bonafide Research, the market is expected to add USD 1.65 Billion by 2027. The US perfume market is gaining momentum due to rising personal care trends and growing demand for exotic scents for young people. Moreover, product diversification by manufacturers is attracting more consumer segments. Apart from that, rising consumer spending on luxury fragrances due to increasing income levels and living standards continues to boost perfume sales. Other major factors propelling the demand for perfumes across the country are rapid urbanization, increasing population and aggressive advertising by the manufacturers. However, the availability of counterfeit goods is one of the biggest challenges for the market. Based on Distribution Channel, Offline segment leads the market which includes hypermarket/ Supermarkets, Convenience Stores, Specialty Stores, etc. The biggest hypermarkets and supermarkets in the US are Kroger, Albertsons, Ahold Delhaize, Publix Super Markets, Loblaw and many more. The Online segment is projected to expand at a remarkable CAGR over the forecast period, which can be attributed to increasing internet penetration rates across US. E-commerce platforms offer a wide range of products to their consumers at attractive discounts, and they provide multiple payment options such as net banking, debit cards, and credit cards, which are some of the important factors augmenting the segment's growth. The increasing use of social media and celebrity endorsements is influencing the advertising strategies of market leaders. Based on Product type, Eau De Parfum is one of the leading segments in the market as it has highest level of fragrance concentrations and includes a huge percentage of essential oils as compared to other types. Perfume is expected to be fastest growing during forecast period owing to its higher concentration and longevity of fragrance scent. On the basis of Product, Premium segment is leading the market due to personalization, product differentiation and quality and increasing demand for handcrafted and exclusive products. However, mass products segment is expected to grow at faster rate during forecast period due to increasing production which results to increasing demand. Based on Nature Type, Synthetic Perfume leads the market due to increased production and consumption among people. Natural Perfume is expected to grow at significant rate during forecast period due to increasing awareness about use of organic products to avoid skin related problems or allergies. Covid-19 Impact on Perfume Market The lockdown restrictions across the country led to a serious disruption in the supply chain, which negatively affected the perfume market. Moreover, the slowdown as a result of the suspension of various manufacturing activities and the ban on international travel in order to contain the spread of the pandemic has impeded the market's growth. Lockdowns and isolation during pandemics restricted the varied industrial operations, which created several complications for the market’s production and provide. The loss of revenue thanks to the suspended operations and the postponed activities across the industries led to reduced deliveries of perfume, further hampering the market’s growth. However, the COVID-19 crisis is probably going to accelerate market trends such as the rise of the middle-class population and the use of e-commerce, which may favour market growth. Moreover, players are adopting various safety measures to propel market growth on an outsized scale, together with the new planning and strategies introduced by the fragrance market players. Considered in this report • Geography: US • Historic year: 2016 • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • US Perfume market with its value and forecast along with its segments • City-wise perfume market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Product Type • Eau De Parfum • Eau De Toilette • Eau De Cologne • Eau Fraiche • Parfum • Others By End User • Men • Women • Others By Ingredient Type • Natural • Synthetic By Product • Premium • Mass By Distribution Channel • Online • Offline The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Perfume industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.
Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globallyDownload Sample