Market Insights Consumer Beauty & Personal Care

Fragrances - Luxembourg

Luxembourg

in Luxembourg, a small country Europe, is not exempt from the impact of the Fragrances market.
In 2024, the revenue in this market segment amounts to US$24.49m.
Looking ahead, the market is projected to experience an annual growth rate of 3.53% (CAGR 2024-2028).
However, when compared globally, it is clear that in the United States generates the highest revenue in the Fragrances market, reaching a staggering US$8,862m in 2024.
This highlights the dominance of the US in this industry.
In terms of per capita revenue, in Luxembourg generates US$37.01 in 2024.
This figure represents the amount of revenue generated per person in the country, taking into account its total population.
By 2024, it is expected that 78% of the sales in the Fragrances market will be attributed to Non-Luxury.
This indicates that the majority of the market is comprised of products that fall outside the luxury segment.
Luxembourg's fragrance market is thriving, with a growing demand for high-end luxury scents among its affluent population.

Key regions: South Korea, Worldwide, United Kingdom, Malaysia, United Arab Emirates

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Data coverage:

The data encompasses B2C enterprises. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations such as population, GDP per capita, and Human Development Index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, multiple forecasting techniques based on different forecasting methods, such as Autoregressive Integrated Moving Average (ARIMA) and exponential trend smoothing, can provide the most accurate forecasts.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.