1.1 Definition and presentation
The fragrance market includes all the toiletries intended to be applied to a person in order to obtain a pleasant odor. Perfumeries is the most important facility where these products are distributed, however the product is also sold at large food stores.
The global perfume market has experienced a continuous increase for several years, which is expected to continue in the future. This dynamic is driven on the one hand by the positive performance of the luxury sector, and in particular by global companies such as Chanel, Dior or L'Oréal, and on the other hand by the multiplication of the number of perfume references, offering products adapted to all markets and consumers.
In the UK, the market has been growing slowly but steadily over the past years. Females still account for the largest revenue growth, although men are not far behind. Although luxury perfumes have grown steadily this product segment is closely related to disposable income and the outlook is less certain in times of economic slowdown. [buy-perfume]
The market for perfume retailing is highly fragmented, with around 714 retailers registered in the UK. [ibisworld] Nevertheless, perfume brands such as Avon Products Inc., Natura Cosmticos, Chanel; Coty, LVMH; L’Oreal, Estee Lauder, and Elizabeth Arden dominate consumer preferences.
Several recent trends are affecting the market; for example, the development of niche fragrances, original products and more "premium" than mass-market perfumes, customized solutions of perfumes and, as in many sectors, the multiplication of organic and responsible approaches.
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