PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1326259
PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1326259
India Perfume Market Assessment, By Perfume Type, By Fragrance Type, By Gender, By Price Segment, By Pack Size, By Distribution Channel, By Region, Opportunities and Forecast, FY2017-FY2031F
The perfume market in India is rapidly growing driven by the country's increasing aspirational middle-class population, higher disposable income, higher propensity to spend on fragrances by the millennials segment of the population and changing lifestyle preferences of the consumers. India Perfume Market was valued at USD 243.83 million in FY2023 and will grow to USD 757.89 million by FY2031, exhibiting a CAGR of 15.23% during the forecast period between FY2024 and FY2031F.
The increasing demand from the millennial due to increase in physical activities such as participation in sports or yoga, lifestyle changes, focus on personal care, high purchasing parity and the advent of e-commerce platforms supporting ease of access and quick availability are all the factors that contribute to the growing usage of perfume in India. In the recent times, India has witnessed numerable home-grown brands being launched in the mass segment bringing in affordability and wider application amongst the users. There are more than 6,000 ingredients for fragrances listed with Fragrances and Flavours Association of India.
India is the third-largest market for perfumes in the Asia-Pacific region after China and Japan. Perfumes have been used since ancient times due to its properties of olfaction and creating an atmosphere of realm, supress foul odours and many proven therapeutic benefits as well. The experts determine the blending proportion of perfume oil with alcohol with majorly dissolving between 10% and 20% perfume oils in alcohol. The perfume market has evolved over time with respect to the retailing formats and mature and new age brands have differentiated positioning in the market.
The Millennials - Indian Trendsetters
Perfumes, earlier deemed to be used only for special occasions are now a part of everyday personal grooming. Millennials are more focused on enhancing the personality and use products of high social worth. As of 2021, millennials comprise around 34% of India's total population with an average age of 28.4 years majorly contributing to the workforce population as well. Since the wallet share of this segment in India is increasing, it is proving to be a crucial consumer segment in driving the growth of perfume market.
Perfume brands offer differentiated SKUs to cater to a wide cohort at various price points. The use of fragrances among millennials has increased significantly as a result of internet accessibility. This generation loves internet shopping since they are tech-savvy and more inclined to stick with a certain brand when buying grooming products like perfumes.
Public Figure Endorsements
More than one-third marketers may spend more than 60% of marketing budgets on digital platforms as stated in a report by Mobile Marketing Association. Instagram and Youtube ads are among the major platforms used by the companies of perfume segment with latter having a higher share in terms of usability.
Key players have been actively investing in digital marketing channels recently to increase product awareness leveraging the capabilities on campaigns on social media and influencer marketing. Therefore, e-commerce has become a successful means for perfume suppliers to connect with a large audience. Some merchants are even selling specially formulated perfumes to cater to each customer's preference in an effort to increase sales. Hopefully, these improvements, supported by robust advertising efforts, will maintain customer attention over time.
Impact of COVID-19
Similar to other businesses, the Indian perfume industry was significantly impacted by the pandemic. There was a paradigm shift in the demand patterns of the consumers. The retail establishments, which were the main outlets for the sale of perfumes-were forced to close as a result of strict lockdown policies and limitations on meetings and restricted mobility implemented by the Government of India. As a result, there was a decrease in both demand and sales. However, the Indian perfume manufacturers and retailers adjusted to the adverse situation by concentrating on online sales. As customers shifted to online purchasing to avoid being exposed to the virus, several businesses experienced a huge spike in their e-commerce sales. Given that the transition to online shopping is here to stay, this tendency is likely to persist long after the epidemic has subsided.
Key Player Landscape and Outlook
With the advent of technology and increased consumption, India's traditional fragrance sector has seen significant changes. The perfume market is currently expected to grow and provide numerous opportunities for new players to thrive. Few companies are aiming to raise money to fund their expansion plans. For instance, Mama earth's parent company, Honasa Consumer, has submitted the required paperwork to the market regulator in order to raise money through an IPO (initial Public offering).
Table of Contents
1. Research Methodology
2. Project Scope and Definitions
3. Impact of COVID-19 on the India Perfume Market
4. Executive Summary
5. Voice of Consumer
- 5.1. Demographics (Age/Cohort Analysis - Baby Boomers and GenX, Millenials, Gen Z; Gender; Income - Low, Mid and High; Geography; etc.)
- 5.2. Market Awareness and Product Information
- 5.3. Brand Awareness and Loyalty
- 5.4. Factors Considered in Purchase Decision
- 5.4.1. Brand Name
- 5.4.2. Fade Away Time
- 5.4.3. Fragrance
- 5.4.4. Quantity
- 5.4.5. Price
- 5.4.6. Quantity w.r.t Price
- 5.4.7. Customisation Options
- 5.4.8. Packaging
- 5.4.9. Promotional Offers
- 5.5. Purpose of Purchase (Personal Use, Gifting)
- 5.6. Frequency of Purchase
- 5.7. Medium of Purchase
- 5.8. Role of Brand Ambassador or Influencer Marketing on Product/Brand Absorption
6. India Perfumes Market Outlook, FY2017-FY2031F
- 6.1. Market Size & Forecast
- 6.1.1. By Value
- 6.1.2. By Volume
- 6.2. Market Share & Forecast
- 6.2.1. By Perfume Type
- 6.2.1.1. Eau De Parfum
- 6.2.1.2. Eau De Toilette
- 6.2.1.3. Others
- 6.2.2. By Fragrance Type
- 6.2.2.1. Aqua
- 6.2.2.2. Amber
- 6.2.2.3. Woody
- 6.2.2.4. Floral
- 6.2.2.5. Others
- 6.2.3. By Gender
- 6.2.3.1. Male
- 6.2.3.2. Female
- 6.2.3.3. Unisex
- 6.2.4. By Price Segment
- 6.2.4.1. Mass
- 6.2.4.2. Premium
- 6.2.5. By Size
- 6.2.5.1. Up to 60 ml
- 6.2.5.2. 61 ml to 100 ml
- 6.2.5.3. More than 100 ml
- 6.2.6. By Distribution Channel
- 6.2.6.1. Online
- 6.2.6.2. Offline
- 6.2.6.2.1. Brand Stores & Kiosks
- 6.2.6.2.2. Multi-Brand Outlets
- 6.2.6.2.3. Pharmacies/Drug Stores
- 6.2.6.2.4. Others
- 6.2.7. By Region
- 6.2.7.1. East
- 6.2.7.2. South
- 6.2.7.3. North
- 6.2.7.4. West & Central
- 6.2.1. By Perfume Type
7. India Perfumes Market Mapping, FY2023
- 7.1. By Perfume Type
- 7.2. By Fragrance Type
- 7.3. By Gender
- 7.4. By Price Segment
- 7.5. By Size
- 7.6. By Distribution Channel
- 7.7. By Region
8. Pricing Analysis for Key Five Players
9. Macro-Business Environmental Scope
- 9.1. Value Chain Analysis
- 9.2. Demand and Supply Analysis
- 9.3. Import Export Analysis
- 9.4. Porter's Five Force Industry Analysis
- 9.4.1. Threat of New Entrants (Emerging Players)
- 9.4.2. Threat of Substitutes (Other Substitutes for Perfumes)
- 9.4.3. Competitive Rivalry
- 9.4.4. Bargaining Power of Suppliers
- 9.4.5. Bargaining Power of Consumer
- 9.5. PESTEL Analysis
- 9.5.1. Political Factors
- 9.5.2. Economic Overview
- 9.5.3. Social Implications
- 9.5.4. Technological Advancements
- 9.5.5. Environmental Impact
- 9.5.6. Legal Policies & Regulatory Bodies
10. Market Dynamics
- 10.1. Trends & Developments
- 10.2. Growth Drivers
- 10.3. Growth Inhibitors
11. Best Practices Case Studies Adopted by Key Market Leaders of India Perfumes Market (Upto Three)
12. Competitive Landscape
- 12.1. SWOT Analysis of Key Five Market Players
- 12.2. Competition Matrix of Key Five Market Leaders
- 12.3. Market Revenue Analysis of Key Five Market Leaders (in %, FY2023)
- 12.4. Mergers & Acquisitions/ Joint Ventures (If Applicable)
- 12.5. Patent Analysis (If Applicable)
13. Competition Outlook
- 13.1. L'Oreal S.A. (Yves Saint Laurent)
- 13.1.1. Company Details
- 13.1.2. Key Management Personnel
- 13.1.3. Products & Services
- 13.1.4. Key Market Focus & Geographical Presence
- 13.1.5. Financials (As Reported)
- 13.1.6. Recent Developments
- 13.2. Mensa Brand Technologies Private Limited (Villain)
- 13.3. Renee Cosmetics Private Limited (Renee perfume)
- 13.4. Coty, Inc. (Calvin Klein)
- 13.5. Helios Lifestyle Private Limited (Man Perfume)
- 13.6. Mcnroe Consumer Products Private Limited (Wild stone)
- 13.7. LVMH Moet Hennessy - Louis Vuitton (Dior)
- 13.8. Titan Company Limited (Skinn)
- 13.9. IDAM Natural Wellness Pvt. Ltd. (Bella Vita Organic)
- 13.10. ITC Limited (Engage)
Companies mentioned above DO NOT hold any order as per market share and can be changed during course of work
14. Strategic Recommendations
15. About Us & Disclaimer
List of Tables
- Table 1. Price Point Analysis of Products from Key Players
- Table 2. Competition Matrix of Top 5 Market Leaders
- Table 3. Mergers & Acquisitions/ Join Ventures (If Applicable)
- Table 4. About Us - Regions and Countries Where We Have Executed Client Projects
List of Figures
- Figure 1. India Perfume Market, By Value, In USD Million, FY2017-2031F
- Figure 2. India Perfume Market, By Volume, In Thousand Units, FY2017-2031F
- Figure 3. India Perfume Market Share, By Perfume Type, In USD Million, FY2017-2031F
- Figure 4. India Perfume Market Share, By Perfume Type, In Thousand Units, FY2017-2031F
- Figure 5. India Perfume Market Share, By Fragrance Type, In USD Million, FY2017-2031F
- Figure 6. India Perfume Market Share, By Fragrance Type, In Thousand Units, FY2017- 2031F
- Figure 7. India Perfume Market Share, By Gender, In USD Million, FY2017-2031F
- Figure 8. India Perfume Market Share, By Gender, In Thousand Units, FY2017-2031F
- Figure 9. India Perfume Market Share, By Price Segment, In USD Million, FY2017-2031F
- Figure 10. India Perfume Market Share, By Price Segment, In Thousand Units, FY2017-2031F
- Figure 11. India Perfume Market Share, By Size, In USD Million, FY2017-2031F
- Figure 12. India Perfume Market Share, By Size, In Thousand Units, FY2017-2031F
- Figure 13. India Perfume Market Share, By Distribution Channel, In USD Million, FY2017-2031F
- Figure 14. India Perfume Market Share, By Distribution Channel, In Thousand Units, FY2017-2031F
- Figure 15. India Perfume Market Share, By Region, In USD Million, FY2017-2031F
- Figure 16. India Perfume Market Share, By Region, In Thousand Units, FY2017-2031F
- Figure 17. By Perfume Type Map-Market Size (USD Million) & Growth Rate (%), FY2023
- Figure 18. By Fragrance Type Map-Market Size (USD Million) & Growth Rate (%), FY2023
- Figure 19. By Gender Map-Market Size (USD Million) & Growth Rate (%), FY2023
- Figure 20. By Price Segment Map-Market Size (USD Million) & Growth Rate (%), FY2023
- Figure 21. By Size Map-Market Size (USD Million) & Growth Rate (%), FY2023
- Figure 22. By Distribution Channel Map-Market Size (USD Million) & Growth Rate (%), FY2023
- Figure 23. By Region Map-Market Size (USD Million) & Growth Rate (%), FY2023
