Asia Pacific Perfume and Deodorants Market Grows With Double Digit CAGR During the Forecast Period
Increasing disposable income among the population is driving
the Asia Pacific Perfume & Deodorants Market growth in the forecast period.
According
to TechSci Research report, “Asia Pacific Perfume
& Deodorants Market By Type (Perfumes {Eau de Cologne, Eau de Parfum and Eau de Toilette} and
Deodorants {Gas and Non-Gas}) By Packaging (Below 50 ml, 50-100 ml, 101-150
ml, 151-200 ml and Above 200 ml) By Sales Channel (Traditional Stores,
Supermarket/ Hypermarket, Specialty Stores, Online, and Others) By Country,
Competition Forecast & Opportunities, 2026”,
the Asia Pacific perfume & deodorants market is projected to grow with an
impressive double digit CAGR in the forecast period, 2022-2026. The market
growth can be attributed to the increase in demand of fragrant products to
maintain freshness and hygiene of the human body by the working population of
the region. The premium and exquisite products are flooding the regional market
thereby driving the growth of the market in the upcoming five years. Top
players in the market are focusing on the end user’s demand and thus creating
perfumes and deodorants based on their preferences. To target the male
consumers, the market players are providing the products that are more woody,
citrusy, and amber-oriented whereas female consumers are more inclined and thus
provided with floral, sweet, and oriental notes. This availability of the wide
range of the products is a major factor that is driving the growth of the Asia
Pacific perfume & deodorants market in the next five years.
Moreover,
the market players are actively implementing the scent marketing strategy to influence
the consumers’ purchasing decision. This factor will majorly enhance the growth
of the Asia Pacific perfume & deodorants market in the forecast period.
Based on type the perfume and deodorants market are categorized into eau de
cologne, eau de parfum and eau de toilette as different types of perfumes
available in the market whereas gas and non-gas as the different type of
deodorants. Perfumes are differentiated by their area of uses; eau de cologne
are majorly used by the male consumers, where as eau de parfum is female
perfume, and eau de toilette is the perfume category that is majorly used for
the room and toilet fresheners. Deodorants are differentiated into two types
that is gas and no gas which focusses on the authenticity and the value of the
product by defining its gaseous nature that may lead to differentiating the
products based on the quality.
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The Asia Pacific perfume & deodorants market is
segmented by type, packaging, sales
channel, country distribution, and competitional analysis. Based on
type, the market is categorized into perfume and deodorants, that are utilized
as the fragrant products. Deodorants are expected to hold the larger market
share in the upcoming five years owing to the fact that deodorants are cost
effective as compared to the perfumes. They are marketed as the mass-product,
and recent development of the herbal and non-skin irritant products is driving
the market dominance in the future five years. Moreover, countries like India
and China are focused over anti-bacterial deodorants thus targeting a broader
segment of the consumers.
Perfumes
are expected to show a faster growth in the market segment, the market segment
growth can be attributed to the rising popularity of the exclusive and luxury
brands. The population with the available financial resources and preference to
the luxury brands are driving the market growth. The advancement of the
products took place when the products with the addition of pheromones
(hormones) in the perfume were introduced in the market. Both male and female
consumers are inclined toward the product for its promise to attract the
opposite sex if used.
Some of the major
competitors in the market are Revlon, Firmenich International SA, Estée Lauder
Asia Pacific Limited, L'Oreal Group, Christian Dior Couture, Giorgio Armani
Hong Kong Limited, Unilever Asia Private Ltd., Procter & Gamble Asia, Church
& Dwight, Co., Inc., Godrej Group, among others. Top players are actively
involved in the research and development of better, herbal, less skin irritant
product, that satisfies the consumer needs along with their preferences. Other
growth strategies include partnerships with the top players of the industry
thus establishing a growing market with new brand names.
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“Young and working population along with
the disposable income available with this set of population in India is driving
the market and thereby proving India as the most promising country for the
future of the market growth. Also, the climatic affects like the hot and humid
climate in almost all south Asian countries are fueling the need of perfumes
and deodorants. In the next five years, we are expecting India to outgrow the
Australian market that held the largest market share by far in last five years ,”
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based Asia Pacific management consulting firm.
“Asia Pacific Perfume
& Deodorants Market By Type (Perfumes {Eau de Cologne, Eau de Parfum and
Eau de Toilette} and Deodorants {Gas and Non-Gas}) By Packaging (Below 50 ml,
50-100 ml, 101-150 ml, 151-200 ml and Above 200 ml) By Sales Channel
(Traditional Stores, Supermarket/ Hypermarket, Specialty Stores, Online, and
Others) By Country, Competition Forecast & Opportunities, 2026”, has evaluated the future
growth potential of Asia Pacific perfume & deodorants and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Asia Pacific Perfume & Deodorants.
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