Luxury Perfume Market Trends

Statistics for the 2023 & 2024 Luxury Perfume market trends, created by Mordor Intelligence™ Industry Reports. Luxury Perfume trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

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Team License

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Corporate License

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Market Trends of Luxury Perfume Industry

This section covers the major market trends shaping the Luxury Perfume Market according to our research experts:

Increasing Demand for Personal Luxury Goods in Developing Countries

  • The demand for personal luxury goods is rising with the rise in the disposable income of customers in developing nations. Alongside, the rise in modernization and adoption of western lifestyle in these countries has led to the growth of the luxury goods market. Among personal luxury goods, luxury cosmetics and perfumes have seen a rising trend among consumers, especially women, who prefer to invest in premium products. The demand for unisex luxury perfumes is growing because of the combination of aromatic and complex fragrances. 
  • Moreover, celebrity endorsements and social media trends, along with other factors, drive the luxury perfume market in developing nations like India and China, among others. Global leaders are more focused on increasing their consumer base in these countries, owing to the changing preference and lifestyles of the population. For instance, in June 2021, Hermès launched its third women's fragrance in India's existing Twilly product line. This product line extension was available in floral, spicy, and woody scents.
Luxury Perfume Market: Luxury Perfume Revenue (%), LVMH, By Region, 2021

North America Holds a Significant Share

  • North America caters to a huge share of the luxury perfume market. The higher demand for luxury perfume in the region is fueled by the high disposable income of individuals in the region, coupled with the modernized lifestyle of consumers. The leading luxury perfume brands are focusing on personalization in product offerings, which is gaining popularity among various consumer groups. The popularity of lighter-scented luxury perfumes among millennials and the availability of products in attractive packaging are expected to boost the sales of luxury perfumes. Also, premiumization is playing a key role in the overall luxury perfume market in the region. 
  • Customers actively seek superior quality and content when using any consumer goods, including perfumes, irrespective of their high-end price tags. The rising demand in this region has compelled market players to extend their operations. For instance, in July 2021, Louis Vuitton collaborated with Frank Gehry to create a new luxury fragrance line known as the Les Extraits Collection. Jacques Cavallier, the master perfumer, created this collection of five scents.
Luxury Perfume Market: Market Size (%), By Region, Global, 2021

Luxury Perfume Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)