This statistic depicts the estimated size of the global fragrance market from 2012 to 2021. In 2016, the global fragrance market is estimated to be worth about USD 40.1 billion.
Global Fragrance Market
Fragrances are derived from a mixture of essential oils or aroma compounds, fixatives and solvents commonly used to provide pleasant scent to the human body, animals, food, objects and any living space. The global fragrance market can be broken down into three categories such as perfume, deodorant and others.
Personal care has the second largest market share for fragrance products, following only the household products sector. As of 2013, the leading cosmetic and fragrance company in the world was Procter & Gamble, which generated a revenue of 61.74 billion euros.
North America is the largest global market when it comes to fragrance products. In 2015, the leading women's fragrance brand in the United States was Elizabeth Taylor's White Diamonds. The brand generated approximately 23.2 million U.S. dollars, just about double what the second leading brand, Viva La Juicy, generated.
Increasing disposable income in developing countries such as India and China is expected to drive the global market as this allows the customers to spend more on luxury products among which fragrances play key roles.