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Report: Consumer Spend Cutback Hurts France's Fragrance Market Growth
Posted: July 31, 2013
France’s fragrance market, the second most important sector in the country’s health and beauty industry, will witness slower growth as French consumers reduce their spending in an effort to save more, according to market research firm Canadean.
Canadean said the market will witness only the seventh fastest growth rate out of the nine health and beauty markets that Canadean follows. The research firm said comparatively higher personal saving levels, 15.5% in comparison to the average 2.5% rate in the United States, have had an impact on expenditure.
The fragrances sector in France is forecast to witness a value Compound Annual Growth Rate (CAGR) of 1.5% and slightly higher volume CAGR of 2.0% until 2017. Women's fragrances dominate the sector, with a value share of 62.8% and volume share of 65.0%. It is also forecast to witness the strongest growth, with both value and volume CAGR forecast at 2.2% and 2.6% respectively, from 2012 to 2017.
Men's fragrances made up less than half the volume of the market in 2012, at 31.7% volume and a slightly higher value of 33.8%. In growth terms, 2012–2017 is projected to see volume and value for men's fragrances significantly lower than both sector levels and female fragrances; with a volume CAGR of 1.1% and value CAGR at just 0.3%.
The third category, unisex fragrances, recorded just over 3% of the sector for both value and volume in 2012, and its volume CAGR mirrors that of men's fragrances. Its value growth is projected to be lower still, at 0.2%.