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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