Deodorants And Fragrances Market Research, 2031
The global deodorants and fragrances market was valued at $37.9 billion in 2021, and is projected to reach $63.2 billion by 2031, growing at a CAGR of 5.3% from 2022 to 2031.
Deodorants and fragrances are personal care and hygiene products that are primarily used to eliminate body odor or to help accentuate the natural scent of the body by adding a layer of complimentary scents. Fragrances range back to the ancient Egyptian and Mesopotamian civilizations and deodorants were first invented in the late 1800s. The use of deodorants and fragrances increased significantly in the mid-1990s due to a rise in public awareness and adoption of such products.
Deodorants and fragrances are used daily by the majority of consumers across the world to smell fresh. These types of products may be purchased multiple times in a month, especially the spray variants, due to the volume and frequency of consumption by the users. Spray and roll-on deodorants are highly popular across the world, while stick deodorants are in demand in North America, and are slowly gaining popularity in Asia-Pacific and LAMEA. Brands such as Axe, Old Spice, Mitchum, and Dove are some of the most popular brands in the Deodorants and Fragrances industry and produce different types of deodorants and fragrances across various types and price points.
The growth of the deodorants and fragrances market was severely restricted owing to the onset of the pandemic, due to lockdowns and quarantines enforced throughout the world. Consumers were not inclined to spend money on non-essential personal care and hygiene products as they were working from home, which led to a massive drop in the sales of deodorants and fragrances. Furthermore, many deodorant and fragrance manufacturing factories were converted temporarily to manufacture products like sanitizers, which further led to a loss for the market.
Most of the deodorants and fragrances sold on the market belong to the economic category as they are affordable and provide basic protection from body odor and bad scents. In addition, the economic range of deodorants includes antiperspirants, which contain ingredients such as aluminum which help in blocking the pores of the skin and prevent sweating. This effectively reduces the creation of body odor, thus, boosting the economic Deodorants and Fragrances Market Share. However, due to the rise in income, purchasing power, and improving standards of living across the globe, the demand for premium personal care products is rapidly increasing, which also include deodorants and fragrances. The primary reasons for the increase in popularity of premium deodorants and fragrances include high quality ingredients, better and more complex scents, and attractive designs of the bottles. Furthermore, increasing product innovations by the engaged stakeholders in terms of formulations, scents, packaging, and ease of application are boosting the Deodorants and Fragrances Market Growth.
Due to the massive popularity and consumption of deodorants and fragrances, many manufacturers that produce low-quality and imitation products have emerged into the market. These manufacturers use sub-par ingredients and formulations to make products that can lead to severe harm to the skin of the user. These types of products are made to resemble authentic products, which confuses the consumers and reduces the popularity of the brands. As a result, this causes a loss of sales and hampers the Deodorants and Fragrances Market Demand.
Manufacturers are using recyclable packaging for solid and paste types of deodorants and fragrances as they are the most compatible with such packaging due to their solid and pasty nature. These types of organic, vegan, cruelty-free, and sustainable deodorants and fragrances are attracting a large number of consumers, which will help boost the Deodorants and Fragrances Market Size in the future.
The deodorants and fragrances market is segmented into Type, End-User, Price Point and Distribution Channel.
By type, the deodorants and fragrances market is classified into spray, stick, roll-on, and others. Depending on end users, the market is categorized into women and men. By price point, the market is divided across economic, premium, and luxury. According to distribution channels used for the sale of deodorants and fragrances, the market is segmented into hypermarkets/supermarkets, specialty stores, online channels, and others.
Sprays are the most commonly used form of deodorants and fragrances in the market due to their easy availability in all major regions of the world. Furthermore, most fragrances are available in the form of sprays, which further increases the market share of sprays. Sticks are predicted to have the highest growth during the Deodorants and Fragrances Market Forecastperiod due to the increasing adoption of stick deodorants, especially in the Asia-Pacific region.
Women hold a larger share of the deodorants and fragrances market due to the greater availability of products catered towards women coupled with the purchase of many different types of deodorants and perfumes for different occasions and scenarios by women. The market for men is rapidly increasing with the introduction of new product lines for men along with new scents and packaging of products catered to appeal to men.
The majority of the world’s population uses economic deodorants and fragrances on a daily basis as they are the most value for money products in the market. Many consumers also carry pocket-sized economic deodorants and fragrances for quick and discreet applications throughout the day. However, improving standards of living along with increasing purchasing power is leading to an increasing interest in premium products, which is helping to boost the premium segment.
Specialty channels of sale are the most beneficial modes of deodorant and fragrance purchase for consumers as these stores hold extensive knowledge of their products and are extremely capable of providing the consumer the best products depending on their needs and affinities. However, the ease of purchase and convenience of home delivery coupled with discounts available through online channels provide optimum growth opportunities for the online distribution channels.
North America is the largest consumer of deodorants and fragrances due to the large consumer base who use such products regularly. Europe and Asia-Pacific are very close in terms of market share due to Europe’s preference for premium and luxury products and the massive population of the Asia-Pacific region, which is why the region is also expected to have the highest growth rate during the forecast period.
Some of the major players analyzed in this report are Edgewell Personal Care Company, Estee Lauder Companies Inc., Giorgio Armani S.p.A., Groupe Rocher, L'Oréal S.A., LVMH Group, PVH Corporation, Revlon, Inc., The Procter & Gamble Company, and Unilever Plc.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the deodorants and fragrances market analysis from 2021 to 2031 to identify the prevailing deodorants and fragrances market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the deodorants and fragrances market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global deodorants and fragrances market trends, key players, market segments, application areas, and market growth strategies.
Deodorants and Fragrances Market Report Highlights
| Aspects | Details |
 Market Size By 2031 | USD 63.2 billion |
 Growth Rate | CAGR of 5.3% |
 Forecast period | 2021 - 2031 |
 Report Pages | 431 |
 By Type |
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 By End-User |
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 By Price Point |
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 By Distribution Channel |
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 By Region |
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 Key Market Players | Unilever plc, Loreal S.A., Revlon, Inc., PVH Corp., Estee Lauder Companies Inc., Edgewell Personal Care Co, Procter & Gamble Co., giorgio armani, LVMH GROUP, Groupe Rocher |
Analyst Review
Deodorants and fragrances are some of the most commonly used and highly popular personal care and hygiene products in the world. Most consumers in the world use deodorants and fragrances daily to either help eliminate body odor or enhance the natural fragrance of the body. The wide variety of brands and scents available for deodorants and fragrances help provide numerous options to the consumer, thus boosting the growth of the market.
Economic deodorants and fragrances are the most popular form, especially among the middle and lower-income group of consumers due to their easy availability and affordable rates at which they are sold. Furthermore, most of the major brands of deodorants and fragrances cater to the economic category as these products are the most widely used. However, there is an increasing consumer preference toward premium products as the standard of living is improving throughout the world. Many brands are aiming to create premium versions of their economic products to create a greater customer connection and to make the transition from economic to premium smoother with the help of familiar names, all the while maintaining the economic version of the brands as well.
Natural and nature-derived deodorants and fragrances is anticipated to gain greater popularity in the future due to the increasing consumer preference for natural, organic, and vegan products. In addition, most of the players are moving toward aerosol-free deodorants and fragrances to prevent breathing problems in consumers. Gradually increasing popularity of stick, paste, and solid deodorants and fragrances in the developing regions of the world is likely to lead to the proliferation of the deodorants and fragrances market. Furthermore, greater innovations made by manufacturers of deodorants and fragrances to provide better results to their consumers is expected to help aid market growth.
The deodorants and fragrances market was valued at $ 37,897.8 million in 2021 and is estimated to reach $ 63,155.6 million by 2031, registering a CAGR of 5.3% from 2022 to 2031.
The global deodorants and fragrances market registered a CAGR of 5.3% from 2022 to 2031.
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The forecast period in the deodorants and fragrances market report is from 2022 to 2031.
The top companies that hold the market share in the deodorants and fragrances market include Giorgio Armani S.p.A., Groupe Rocher, L'Oréal S.A., LVMH Group, PVH Corporation, The Procter & Gamble Company, and Unilever Plc.
The deodorants and fragrances market report has 4 segments. The segments are product type, end user, price point, and distribution channel.
The emerging countries in the deodorants and fragrances market are likely to grow at a CAGR of around 7% from 2022 to 2031.
Post COVID-19, the resuming of offices, colleges, gyms, and other public establishments have led to massive growth in the deodorants and fragrances market as consumers are once again purchasing deodorants and fragrances in order to smell fresh and be free of body odor.
Asis-Pacific will dominate the deodorants and fragrances market by the end of 2031.
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