Perfume Market Emerging Countries, Business Overview and Development Status Forecast To 2025

20 September 2018: Perfume is made by extracting natural oil from plants with the help of stemming and pressing. Perfume word comes from the Latin word which means through smoke. Nowadays, many perfumes are being used in personal care as well as cosmetic products. Their application can be seen in each and every sector. Application of synthetic perfumes is also increasing other than natural oils.  The raw materials used to make a perfume are flowers, spices, grasses, roots, wood, balsams, gums, leaves, fruits, animal products such as musk from male deer, castor from beavers and ambergris from the sperm whale. Animal products act as fixatives which help the perfume to evaporate slowly and emit odors longer. Other products that are used as fixatives are mosses, coal tar, synthetic chemicals and resins. The production process includes steps such as collection, extraction, blending and aging.

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Perfume is also used for healing, releases stress and helps improve relationship. Emotions are ruled by the sense of smell which is also considered as a right brain activity, hence sharpening memory as well as creativity. This process of smelling oils and fragrances to treat emotional as well as physical problems is addressed as aromatherapy. It has been noticed in these recent years, that aromatherapy service is being used at a rapid pace. The oil used helps strengthen the immune system. It is either applied or inhaled. To treat people using psychotherapy, it is prescribed to smell sweet smells which affect’s one’s mood and helps him in alleviating stress. Human perfume is being synthesized, that helps in attracting or repelling other humans. Mammals release pheromones, unlike them humans also release such chemicals that attract other humans. Synthetic perfumes are being created which duplicate the effect of pheromones and stimulates sexual arousal receptors in the nervous system.

The demand for celebrity inspired scents is one of the major growth drivers of the industry. The perfumes market is anticipated to grow considerably owing to increasing urbanization, increasing importance on grooming and personal appearance and higher spending propensity. Youth oriented perfumes, exotic and floral fragrances are expected to boost the market growth in the years to come.  Perfumes have turned out to be as an essential, due to the rising trend of personal care and appearance that in turn enhances pride, confidence and self-reliance. The feel good factor that it provides, acts as a compliment to the customer’s need for expressing personal style and individuality. There has been a wide range of choices and themes that enable the customers to choose the perfume that satisfies their need. Movie superstars, apparel designers, pop stars have been entering the perfume industry in the past years which is anticipated to drive the market growth.

Some of the major perfume brands include L’OREAL & LMVH, Chanel, Gucci, Hermes, Azzaro, Burberry, Chanel, CK 1, Dior, Escada, Estee Lauder, Ferrari, Hugo Boss, Lacoste, Nina Ricci, Polo, Shiseido and Armani. The aforementioned market players through continuous R&D endeavours focuses in building a wide distribution network that supports the overall coupling market to report significant growth over the forecast period. Companies through mergers & acquisitions and strategic expansions have been trying to cater large volume of customers with steel couplings that are cost-effective and high quality. Emerging markets and Middle East have been some of the regions that is driving the market growth.

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Asia Pacific is anticipated to account for fastest growth over the forecast period primarily due to the vast application of perfumes in various sectors such as personal sector and cosmetics. India, China, and Japan are anticipated to witness the highest share in the region majorly owing to the rising disposable income, growing adult population that is ready to experiment and looks for new ventures. The Middle East & Africa is projected to see significant growth by 2020 mainly owing to increasing urbanisation, globalisation, and industrialization. The sector has huge potential in this region primarily owing to rising per capita income and foreign investments.