Global Luxury Perfume Market Research Key Players, Industry Overview and forecasts to 2019-2025

The latest report on Luxury Perfume Market by Infinium Global Research gives complete coverage of the Luxury Perfume Market by price ($50 - $100, $100 - $200, and above $200), end-user (male, female, and unisex), distribution channel (specialty store, and online store) in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and applications trends in the regional markets of Luxury Perfume such as North America, Europe, Asia-Pacific and Latin America over the short run and long run. Global luxury perfume market is projected to grow at a CAGR of 6.5% over the forecast period of 2019-2025.

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Perfumes are Gaining Importance in the Cosmetics and Personal Care Industry

Perfumes are a mixture of fragrant essential oil or aroma compounds. Luxury perfumes have rare ingredients, unparalleled craftsmanship, and dazzling details of the fragrances. Perfumes are gaining importance in the cosmetics and personal care industry. The trend of personal grooming and demand for exotic fragrances propels the expansion of the luxury perfume market.

The Rising Brand Consciousness Led to an Increased Demand for Luxury Perfumes

The rising brand consciousness led to an increased demand for luxury perfumes. The growing expenditure for luxury goods among millennial complements the growth of luxury perfume market. Further, the easy availability of various luxury perfumes through online platforms favors the sales of luxury perfumes. The increasing adoption of the trend among consumers to gift luxury perfumes contributes to the growth of the luxury perfume market.

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The Surge in Demand for Luxury Goods Promotes the Expansion of the Luxury Perfume Market

Additionally, the surge in demand for luxury goods promotes the expansion of the luxury perfume market. The growing influence of social media on shopping habits and celebrity endorsement stimulates the expansion of the luxury perfume market. The rise in the per capita income of consumers prefers the quality products. In addition, high investments in advertisements and promotions attract consumers towards the products. On the flip side, some allergies with the use of luxury perfumes hamper the growth of the luxury perfume market. Moreover, new product launches with different fragrances create numerous opportunities in the global luxury perfume market.

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North America is Expected to Hold a Dominant Share in the Global Luxury Perfume Market

Geographically, the global luxury perfume market is divided into North America, Asia-Pacific, Europe, and the Rest of the World. North America is expected to hold a dominant share in the global luxury perfume market. The market players in North America are focused on personalization in product offerings contributing to the growth of the luxury perfume market in the region. Asia-Pacific region is anticipated to have the fastest CAGR in the global luxury perfume market over the forecast period. The companies are adopting partnerships strategies with the e-commerce retail stores that strengthen the distribution channel in Asia-Pacific led to the expansion of the luxury perfume market in the region. Europe has a significant share in the global luxury perfume market owing to the popular fragrances available in the countries in Europe.