The global perfumes and deodorants market was valued at USD 47.1 billion in 2022 and is projected to expand at a CAGR of 4.5% from 2023 to 2030. Perfumes and deodorants are commonly used for personal hygiene and to improve the aesthetic appeal of the body. The growing awareness about personal hygiene, along with the changing lifestyles of people, is driving the market growth. The rise in disposable incomes has resulted in an increase in the demand for premium and designer perfumes and deodorants.

The development of multi-functionality products and the availability of a wide range of fragrances are some of the factors propelling the market growth. Furthermore, the rising trend of natural and organic products is influencing the product formulation of perfumes and deodorants. For instance, in January 2021, Unilever launched a new range of natural deodorants, which are free of aluminum, parabens, and phthalates.

The increasing demand for deodorants has also driven the growth of the market. Deodorants are used for controlling body odor and perspiration. The rising disposable incomes have led to an increase in the spending on personal hygiene products, leading to the growth of the market. Furthermore, the introduction of innovative product formulations has also helped to boost the market growth. For instance, in March 2021, P&G launched an innovative deodorant that has an active odor neutralizer, which helps to mask the body odor.

The growth of the market is also driven by the rising trend of personalization and customization. Many companies are offering customers the option to customize their products, as per their preferences. For instance, in April 2021, The Fragrance Kitchen launched a personalization service that allows customers to create their own fragrances. Furthermore, the increasing number of promotional activities such as celebrity endorsements and advertisements is also driving the market growth.

The deodorants segment accounted for a share of over 41% of the global perfumes and deodorants products market in 2022. The increasing adoption of deodorants to control body odor, particularly among the youth population, is driving the growth of the segment. According to an article by Global Cosmetic News, in April 2020, the number of deodorant users in India is estimated to reach almost 9.9 million by 2024. Moreover, several manufacturers have been introducing advanced deodorants with natural ingredients such as aloe vera, vitamin E, and cucumber to provide long-lasting protection from body odor. Furthermore, increasing demand for gender-neutral deodorants among millennials is also contributing to the growth of the segment.

The perfumes segment is expected to register the fastest CAGR of 5.1% over the forecast period. Growing demand for luxury perfumes, rising awareness regarding fragrances, and the popularity of premium perfumes are some of the key factors driving the market. According to an article by the International Fragrance Association, in June 2019, the global luxury perfume market was valued at 75.2 billion U.S. dollars. In addition, the growing demand for premium and designer perfumes, especially among young consumers, is also driving the growth of the segment.

The supermarkets and hypermarkets segment captured the major share of over 35% in 2022. Supermarkets and hypermarkets provide a large variety of perfumes and deodorants at competitive prices and are the most preferred channel for purchasing these products. The convenience of shopping and availability of discounts during festive seasons further boost the sales of these products through this channel. According to a study by Statista in 2020, 53.6% of consumers in India prefer to purchase beauty and personal care products from supermarkets & hypermarkets.

The online segment is anticipated to expand at the highest CAGR of 12.3% over the forecast period. Online sales of perfumes and deodorants are increasing due to the convenience of shopping and the availability of discounts and offers. Online retailers offer a wide range of perfumes and deodorants with exclusive discounts, which is likely to increase their popularity among consumers. In addition, the emergence of social media platforms has enabled companies to market their products directly to their target customers. For instance, in May 2021, the Indian beauty and personal care retailer Nykaa launched its own line of perfumes and deodorants called Nykaa Supernova. The company promoted the product on its website and social media platforms.

The deodorants segment accounted for the largest revenue share of 63.3% in the year 2022. Companies such as Unilever, P&G, and L’Oréal have been focusing on the expansion of product portfolios in the deodorants segment by launching new products. This has increased the awareness of the product among the target population, thus propelling the segment’s growth. The convenience of deodorants, such as roll-on and light aerosols, has attracted more customers towards the product. The increasing trend of body odor control and personal hygiene among people, especially in developing countries, is also driving the segment’s growth.

The perfumes segment is anticipated to expand at the highest CAGR of 5.3% over the forecast period. The increasing trend of gifting perfumes and rising demand for luxury products are some of the major factors driving the segment’s growth. Also, the growing trend of organic perfumes is boosting the market in the forecasted period. Organic perfumes are made with natural ingredients, making them safer and free from synthetic chemicals. Companies such as Natural Perfumery, Pacifica Beauty, and Phlur have launched organic perfumes in the market.

Europe held the largest share of the market in 2022, accounting for over 40.2% revenue. The demand for fragrances and deodorants in Europe is largely driven by the high disposable income of the consumers and the presence of leading brands in the region, such as Coty, L’Oréal, and Estée Lauder. Additionally, the growing popularity of social media influencers and celebrities endorsing these products is further contributing to the growth of the market in the region.

Asia Pacific is expected to register the fastest growth in the coming years, owing to the growing demand for personal care products in countries like India, China, South Korea, and Japan. The presence of a large population in the region is a key factor behind the growth of the market. Moreover, the increasing number of e-commerce platforms, such as Flipkart, Amazon, and Alibaba, is further providing an impetus to the growth of the market in the region.

In this part of the perfumes and deodorants products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your perfume and deodorants business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions

The main source of revenues for a perfumes and deodorants business comes from sales of products and from advertising and promotional activities. Here you will find a list with a description of each of them and other possible sources of profit such as special offers, discounts, and sales through retailers.

Projecting Expenses

In this section, all the regular expenses related to keeping the perfumes and deodorants business running will be described. The list of operating expenses includes raw materials, manufacturing costs, shipping and delivery, staff wages, advertising and promotional activities, administrative costs, rent, utilities, insurance policies, and others.

Some of the key companies operating in the perfumes and deodorants market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In June 2022, Procter & Gamble launched a line of deodorants and antiperspirants in Europe.

– In August 2022, Unilever launched a new range of perfumes under the brand name “Fantasy”.

– In October 2022, Coty Inc. launched a range of fragrances for men and women under the brand name ‘Scentuelle’.

Some of the prominent players in the perfumes and deodorants market include:

– Procter & Gamble
– Unilever
– Coty Inc.
– L’Oréal
– Avon Products, Inc.
– Henkel AG & Co.
– Beiersdorf AG
– Kao Corporation
– Shiseido Co., Ltd.
– Clarins Group

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global perfumes and deodorants products market based on product, distribution channel, type, and region:

1. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Perfumes
– Deodorants
– Eau De Toilettes
– Eau De Parfums
– Eau De Colognes
– Other Fragrances

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Pharmacies & Drug Stores
– Online
– Others

3. Type Outlook (Revenue, USD Million, 2017 – 2030)

– Mass
– Premium

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What are the Key Drivers of the Global Perfumes and Deodorants Products Market?
[A]: The global perfumes and deodorants products market is driven by factors such as the increasing demand from the young generation, rising disposable income, changing fashion trends, and the emergence of online retailing channels. Additionally, the growing awareness about personal hygiene and the increasing focus on branded products are also driving the market.

[Q]: Who are the Major Players in the Global Perfumes and Deodorants Products Market?
[A]: The major players in the global perfumes and deodorants products market are Procter & Gamble Co., Unilever, Avon Products Inc., Henkel AG & Co. KGaA, Coty Inc., L’Oréal SA, and Shiseido Co. Ltd.

[Q]: What are the Factors that are Restraining the Market Growth?
[A]: The increasing regulations on the use of fragrances and other chemicals in perfumes and deodorants, and the presence of counterfeit products in the market are the major factors that are restraining the market growth.

[Q]: What is the Potential of Emerging Markets?
[A]: Emerging markets are expected to offer significant growth opportunities for the global perfumes and deodorants products market. These markets are characterized by increasing disposable incomes, changing lifestyles and preferences, and the emergence of online retailing channels. Furthermore, increasing awareness about personal hygiene is expected to drive the market.

[Q]: What are the Key Strategies Adopted by the Market Players?
[A]: The key strategies adopted by the major players in the global perfumes and deodorants products market are product launches, acquisitions, collaborations, and partnerships. Companies are focusing on launching new products with innovative features and better packaging to cater to the needs of consumers. Additionally, they are also investing in research and development to develop better products.