See report highlights and key takeaways for the upcoming eight years in the fragrance product market.
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The fragrance product market is expected to grow at a compound annual growth rate of over 5.3% from 2024 to 2032, according to a new report from intelligence provider Global Market Insights. The research platform projects that this market will be valued at $85.7 billion by 2032.
Report Highlights
- The United States fragrance product market was 12.8 billion in 2023.
- Personal care and beauty makes up the largest segment (38%) of the fragrance product market.
- France’s fragrance product market experienced a 5.6% growth in 2023.
- The synthetic fragrance segment accounted for $39.7 billion in revenue in 2023. Synthetic fragrances are typically more budget-friendly than natural fragrances and are commonly found in body sprays, deodorants, and budget perfumes.
“Eco-consciousness is shaping the fragrance market,” said an analyst with Global Market Insights. “Numerous luxury brands are prioritizing sustainability, opting for responsibly-sourced ingredients and environmentally-friendly packaging."
