Dublin, Jan. 08, 2026 (GLOBE NEWSWIRE) — The “Fragrance Global Market Opportunities and Strategies to 2034” has been added to ResearchAndMarkets.com’s offering.
The global fragrance market is undergoing a significant transformation, with robust growth anticipated from 2019 through 2034. As detailed in a recent report, the market reached an impressive value of $59.3 billion in 2024, having grown at a compound annual growth rate (CAGR) of 3.91% since 2019. The trajectory is set to soar, with the market expected to climb to $98.08 billion by 2034, driven by factors such as the rising demand for personalized beauty and the expansion of e-commerce platforms.
Several trends have contributed to the historic growth of the market, including the influence of social media, the popularity of natural and organic products, and the global fashion industry’s expansion. However, the market has faced challenges from rising allergy awareness and cultural restrictions. Moving forward, increased demand for personalized beauty solutions and the proliferation of retail and online platforms are poised to fuel further growth. Potential obstacles include raw material price fluctuations and the proliferation of counterfeit products.
In 2024, North America held the largest regional share of the fragrance market, contributing 32.02% or $18.98 billion to the global total. Asia Pacific and the Middle East are projected to be the fastest-growing regions, with respective CAGRs of 7.16% and 6.16%. The market is characterized by a high concentration, with the top ten companies, led by Givaudan SA, accounting for a combined market share of 26.51% in 2023.
The market is segmented into deodorants, perfumes, and other products. Deodorants dominated in 2024, with $26.18 billion or 44.15% market share; however, perfumes are expected to grow most rapidly at a CAGR of 5.78% between 2024-2029. Regarding fragrance type, fine fragrances led with 38.55% share in 2024, but the essential oils segment is poised for the fastest growth at a CAGR of 6.21% during the same period.
Distribution channels are primarily offline, comprising 87.75% of the market in 2024, yet online channels are forecasted to grow rapidly at a staggering CAGR of 13.95% until 2029. Opportunities abound, particularly in the perfumes segment, which could add $8.2 billion in sales by 2029. Moreover, the fine fragrances and personal care segments are set to experience substantial growth. China represents a significant market prospect, anticipating an increase of $3.26 billion by 2029.
To maximize potential, market players are encouraged to focus on strategic initiatives such as expanding into emerging markets, enhancing digital technologies, and developing gender-neutral and affordable premium fragrance lines. Embracing inclusivity through innovative product offerings and strategic partnerships is also advised to gain a competitive edge.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 325 |
| Forecast Period | 2024 – 2034 |
| Estimated Market Value (USD) in 2024 | $59.3 Billion |
| Forecasted Market Value (USD) by 2034 | $98.08 Billion |
| Compound Annual Growth Rate | 5.2% |
| Regions Covered | Global |
Markets Covered:
- Product: Deodorants, Perfumes, Other Products
- Fragrance Type: Fine Fragrances, Home Fragrances, Functional Fragrances, Essential Oils, Other Types
- Application: Personal Care, Household Care, Other Applications
- Distribution Channel: Offline, Online
Companies Featured
- Givaudan SA
- The Estee Lauder Companies
- IFF (International Flavors & Fragrances)
- Symrise AG
- DSM-Firmenich AG
- Puig Brands S.A.
- Coty Inc.
- Mane SA
- Robertet Group
- Takasago International Corporation
- Fastrack
- Ralph Lauren Fragrances
- Titan Company Limited
- Baccarose
- Anuvi Chemicals Limited
- ITC Engage
- Al-Nuaim
- International Flavors & Fragrances (IFF)
- Givaudan
- Brunello Cucinelli
- L’Oreal
- Wuhan Organic Industry Co., Ltd.
- Shanghai Ruizheng Chemical Technology Co., Ltd.
- Guangzhou Flower Flavours & Fragrances Co., Ltd.
- Zhejiang NHU Co., Ltd.
- Shandong Yaroma Perfume Co., Ltd.
- Guangzhou Baihua Flavours and Fragrances Co., Ltd.
- Shiseido
- Lalique Group
- Shiono Koryo Kaisha Ltd.
- Ogawa & Co., Ltd.
- Nippon Kodos Co., Ltd.
- Lion Corporation
- Byredo
- Bluebell Group
- Korea Aroma Co., Ltd.
- Somang Cosmetics Co., Ltd.
- Coreana Cosmetics Co., Ltd.
- Cosmax, Inc.
- LG Household & Health Care Ltd.
- Amorepacific Corporation
- Kolmar BNH Co., Ltd.
- Chanel
- Unilever
- AllSaints
- Auria Perfumes
- Bottega Veneta
- Mavive
- Sonarome
- Silab
- LVMH
- Puig
- Firmenich
- Bohoboco
- NOVELLISTA
- Caeleste Parfums
- Ataraxia
- Faberlic and Kalina
- Poland’s Laboratorium Kosmetyczne Dr Irena Eris
- La Rive
- Chatler Perfume
- MAYbe Cosmetics
- Green Mama and Emans
- The Estee Lauder Companies Inc.
- Better World Fragrance House
- Inter Parfums Inc.
- Bath and Body Works Inc.
- Ajmal Perfumes LLC
- Vince Camuto
- Avon Products, Inc.
- LanzaTech Global
- Broken Top Brands
- Circle E Candles
- Newell Brands
- Procter & Gamble
- Homedics
- ScentAir
- Tommy Hilfiger Inc.
- Elizabeth Arden, Inc.
- International Flavors & Fragrances, Inc.
- Bell Flavors & Fragrances
- Ungerer & Company, Inc.
- Kylie Cosmetics, LLC
- Osmo
- Agilex Fragrances
- Alpha Aromatics
- Sensient Technologies
- Vigon
- MERIT
- Better World Fragrance House: BWFH
- Firmenich Aromatics Canada Inc.
- Parlux Fragrances Canada
- The 7 Virtues Beauty Inc.
- Scentuals Natural & Organic Skincare
- Maison Lavande
- Natura &Co
- O Boticario
- Grupo Silvio Santos
- Belcorpare
- Yanbal
- Prada S.p.A
- Swiss Arabian Perfumes Group
- Abdul Samad Al Qurash
- Emirates Pride Perfumes
- Al Haramain Perfumes
- Scent of Africa
- Woolworths
- Avroy Shlain
- Oriflame Africa
- Himba Fragrances
For more information about this report visit https://www.researchandmarkets.com/r/k3beck
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