Thousands of new fragrances are pumped onto the market every year. And despite the pandemic hitting the industry hard, the global fragrance market for perfumes was estimated at US$ 43.6 billion in 2020. By 2027, it is expected to reach US $54.6 Billion.
- The average American woman uses 12-16 cosmetic products daily. Most contain fragrance. (Guardian).
- There are more than 6000 materials used in the fragrance industry today. (RIFM)
- The global perfume revenues totaled USD 30.6 billion in 2021. It is projected to grow to USD 43.2 billion in 2028. (Fortune)
- In the United States, the fragrance market revenues hit $7.97 billion in 2021, followed by $8.15 billion in 2022. The market is expected to grow annually by 2.95% (compound annual growth rate for 2022-2026).
- The yearly revenue per person in the United States in 2022 is US$24.33.
- 58% of sales in the fragrance segment in the United States in 2022 is attributed to Non-Luxury goods.
- The United States generated the largest revenues by far in 2021. Brazil came second, at $4.04 billion, just over half of that of the US. France places third at $2.6 billion, and the United Kingdom fourth at $2.3 billion. In 2021, Russia occupied the fifth place, generating $1.97 billion.
- The top country by total revenue in the fragrance market in 2022 is the United States, followed by Brazil, France, the United Kingdom, and Germany. (Statista)
- Despite the rising market share of Asian countries, the United States is expected to hold the top market share position.
- Due to the effects of the war in Ukraine in 2022 and brands pulling off the Russian market, the fifth-largest market projected by Statista in 2022 will be Germany, taking Russia’s place in the charts. Fragrance revenues in Germany are projected to hit US$1.77 billion in 2022.
- The leading segment in fragrance based on the end-user is the women’s segment. (Fortune)
- The online distribution channel is expected to witness the fastest growth in the market. (Fortune)
- The top players in the fragrance industry are L’Oréal S.A. (France), Unilever PLC (United Kingdom, Coty Inc. (US), The Procter & Gamble Company (US).
- The #1 best-selling perfume of all time is Chanel °5. It was launched on May 5, 1921 at Gabrielle Chanel’s boutique on 31 Rue Cambon in Paris. It revolutionized the perfumery world and remained in the top 5 best-selling fragrances for over 100 years.
- Approximately 10 million bottles of Chanel °5 are sold yearly. (Chanel)
- Chanel °5 was also the first perfume ever advertised during the Super Bowl.
- Dior Sauvage saw sales going through the roof during and after Johnny Depp v. Amber Heard trial. While Depp has been the face of the fragrance since 2015, LVMH not only chose to stand by Depp during the trial but also aired the TV commercials during prime time, along with Ulta and Sephora using the visuals on their social media and Depp’s fans posting pictures with the perfume all over the place. During the summer of 2022, Dior Sauvage was 2nd most-searched-for fragrance in the world, topped only by Baccarat Rouge 540. At Sephora, it was the top-selling fragrance worldwide. And according to LVMH’s financial report, it was the only LVMH’s financial report, Dior Sauvage was the only fragrance with “strong growth” (Glossy.com, WWD, LVMH).
- According to Hey Discount, the #1 most talked about fragrance of 2022 (based on the volume of Google Searches, TikTok views, and Instagram hashtags) was Baccarat Rouge 540 by Maison Francis Kurkdjian, followed by Dior Sauvage as #2, Chanel No. 5 taking #3 (although this will likely not reflect fragrance sale statistics accurately).
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