1.1 Definition and scope of the study
Perfume is a cosmetic product composed of essential oils and alcohol, which can take various forms, such as eaux de parfum and eaux de toilettes, depending on the alcohol concentration and manufacturing process. Essential oils themselves, however, are excluded from the scope of this study.
The perfume market covers all toiletries intended to be applied to a person in order to voluntarily impregnate him or her with a pleasant scent, and therefore includes eaux de toilette, eaux de parfum and eaux de Cologne. Perfumeries are the places where these products are distributed, and can take many different forms, from supermarkets to perfumers' workshops.
The global perfume market is worth around $50 billion, and has been rising steadily for several years, a trend that is set to continue. This dynamic is driven by the positive performance of the luxury goods sector, and in particular French companies such as Chanel, Dior and L'Oréal, and by the growing number of fragrance references, offering products adapted to all markets and consumers.
In 2022, sales of perfumes on French soil increased by 15% in value. Exports in the sector grew by 16%. The perfume market has been driven by a recovery in consumer spending following the covid crisis and inflation-driven price rises in France .
In an environment characterized by persistent inflation, players who have not succeeded in fully passing on the rise in their production costs to the final price must consider adjusting their prices if they wish to maintain or even increase their margins. This need is all the more pressing in view of persistent supply chain constraints. The publication of LVMH's disappointing H1 2023 results highlighted the challenges faced by the luxury goods sector in general, due to reduced Chinese demand. The industry, which has enjoyed very strong growth in recent years, faces a number of issues in 2023.
1.2 A fast-growing global market still marked by specific geographical features
The global fragrance market is booming. As we can see from the graph below, this market will be worth almost $**.* billion in ****. This healthy market is set to continue. According to Trefis projections, the value of the market should reach nearly $**.* billion by ****.
The average annual growth rate is *.**% between **** and ...
1.3 The French domestic market, leader in a slight slowdown
According to figures published by the NPD research group, total sales of exclusive beauty products in France in **** will be worth *.* billion euros, up **% in value. it should be noted that French companies in the perfume sector generate nearly * billion euros in exports.
The French perfume market France, **** - ****, in billions ...
1.4 Foreign trade: A growing surplus balance
France has a very large trade surplus in the perfume sector, and more broadly in the cosmetics sector. As we can see below, French exports of perfumes and perfumery products have been growing steadily since ****, far outstripping the level of imports for the same products.
European production of fragrances and perfumery ...
1.5 The impact of the COVID-19 crisis
Perfumes and color cosmetics have seen a sharp decline in ****, but overall demand for beauty products remains strong, as consumers turn instead to the skincare, hair care and personal care categories in ****, all of which are less disrupted by new Covid-** routines and lend themselves well to online discovery and purchase.gories ...
2.1 The French and perfume
Beauty and skincare products, as well as fragrances, account for the bulk of sales, respectively **% and **% of the sector's total. [***]
Breakdown of cosmetics sales by category France, ****, in Source: ****
On average, in ****, French women spend ** minutes cleansing and moisturizing their face, ** minutes applying make-up in the morning and ** minutes removing make-up ...
2.2 Rise of the "top-of-the-range" choice
Index evolution of retail perfume sales with a value of *** euros or more France, ****-****, Base index There is a growing trend towards a preference for higher-quality products, including a significant increase in sales of perfumes costing over *** euros. Indeed, between **** and ****, this niche market recorded an increase of ***%, equivalent to ...
2.3 The rise of organic and natural products
In ****, **% of French people bought organic cosmetics, compared to only **% in **** [***] .
Frequency of purchases of natural and organic products France, ****, % [Source: Cosmed Source: ****
french women show a strong interest in brands committed to animal welfare and social initiatives, with awith a **% preference for each of these categories, closely followed by ecological ...
2.4 The impact of tourism on perfume sales in France
The impact of tourism on perfume sales in France is of course concentrated in Paris, with sales in airports and department stores on Boulevard Haussman in particular, a destination in its own right in the tours offered to tourists.
The year **** saw a sharp decline in perfume sales in France. Looking ...
2.5 Seasonal demand
As perfume is one of the most popular gifts during the festive season, demand in this sector is highly seasonal. Cosmetics chains generate up to **% of their sales between November and December, thanks to fragrance sales alone
Trend in interest in "Perfume" searches France, ****-****, base *** Source : Google Trends the ...
3.1 Value chain overview
We propose a summary of the stages in the value chain:
3.2 Growing perfume plants
Perfume flowers belong to a category of plants known as PPAM (***). The Grasse region is one of France's main perfume-producing areas, with distinctive flowers such as Centifolia Rose, Grandifolium Jasmine and Tuberose. [***]
PPAM cultivation in France covered more than **,*** hectares in ****, **% more than in ****. Most of this area was taken up ...
3.3 The perfume-making process
Once the raw materials have been produced, the perfume is then manufactured in * stages(***):
The perfumer blends different essences (***) to create what is known as a fragrance base; This fragrance base is diluted in alcohol, according to the concentration chosen for the type of article (***). Distilled water is also added; This ...
3.4 Distribution largely dominated by perfumeries and department stores
Fragrance distribution in France France, ****, as % of total Source: ****
Perfumeries and department stores
Selective perfumeries account for thebulk of perfume sales in France, and conversely, perfume represents over **% of the *,*** points of sale in France in the selective channel. [***]
**% of the value of the selective circuit was created via large ...
4.1 France's favorite brands
dior is France's favorite fragrance brand, followed by Chanel and Yves Saint-Laurent
French people's favorite brand France, ****, % of total Source: ****
According to [***] in ****, the ** best-selling women's fragrances would be,
La vie est belle- Lancome J'adore-Dior Numéro * -Chanel Libre-Yves Saint Laurent Angel-Mugler La petite robe noir-Guerlin Si-Georgio Armani Miss dior-Dior Coco ...
4.2 The different types of perfume items
There are different types of articles and different names depending on the alcohol concentration obtained during manufacture(***):
Parfum: alcohol concentration between **% and **%. Eau de parfum: concentration between **% and **%. Eau de toilette: concentration < **%. Eau de Cologne: concentration < *%.
This alcohol concentration determines the quality of the finished product, and consequently its price, but ...
4.3 Fragrance composition
A fragrance can be broken down and analyzed according to the so-called "olfactory pyramid", comprising three levels. [***]
Top notes: these are the scents you smell immediately after spraying the perfume, but also the ones that fade the fastest. These are often the freshest, greenest notes, such as bergamot or citrus. Heart ...
4.4 Rising perfume prices
Perfume prices have been rising steadily for several years. Consumer price index data provided byINSEE for perfumes and eaux de toilette show that consumer prices rose by *% between **** and ****. By ****, with inflation and rising raw material prices, consumer prices have risen by *.**%.
One of the main reasons for this is the ...
4.5 Alternative perfumery in response to market standardization
For several years now, the trend in the French perfume market has been to accumulate launches. Indeed, brands have tended to rely on their best-selling fragrances, endlessly adapting an existing fragrance with minimal variations, in order tomaximize the success of these products, which have become veritable cash cows. For several years ...
5.1 Cosmetics Regulation n°1223/2009
Regulation n°****/****, known as the Cosmetics Regulation, is one of the main European regulations governing the cosmetics market.
Designation of a responsible person
For each product placed on the market, companies must designate a Responsible Person (***). The Responsible Person may be the manufacturer, the importer if the manufacturer is outside the ...
5.2 The IFRA code
IFRA is the International Fragrance Association, founded in ****. It has developed a Code of Regulation for fragrance manufacturing, which applies to all its members, representing around **% of the global fragrance industry in terms of production volume. This text includes rules of use for over *** ingredients, including prohibitions on use and dosage ...
6. Player segmentation
The following segmentation of players is used:
- CENTRI DI BELLEZZA YVES ROCHER ITALIA
- L'Occitane Groupe
- Marionnaud France
- Jo Malone
- L'artisan Parfumeur (Puig Groupe)
- LVMH Parfums et Cosmétiques (Parfum Christian Dior)
- Coty (JAB Holdind)
- Rocher Groupe (Yves Rocher)
- Adopt Parfums
- Pochet Groupe
- Dolce & Gabbana
- Yves Saint Laurent Parfums (Groupe L'Oréal)
- L'Oréal Groupe
- Artiris Compoz Parfum
- Sarbec Cosmetics (Vabel Groupe)
- Les Eaux Primordiales
- Pierre Guillaume Parfumeur
- Fragonard Parfumerie
- Anjac Health and Beauty
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1 sector analyzed
in 40 pages
The perfume market and perfumeries - France
Publicado en 29/10/2022 by Go H
L’étude est très bien réalisée, tout est très claire, bien détaillé, actuel surtout. C’est très bien organisé et le fil conducteur est bon. Beau travail.
Merci infiniment Gökalp pour votre retour ainsi que la confiance accordée.
The perfume market and perfumeries - France
Very complete study on consumer behavior, brands, distributors and manufacturers. It shows both the strength of the shock of the health crisis and the resilience of this market. Note the strong growth of organic products.
Hello Geoffroy, Thank you very much for your very positive and detailed feedback, as well as for the trust you have placed in us.