Prestige Cosmetics & Fragrances - Luxembourg

Luxembourg

in Luxembourg, a country known for its affluent population and strong economic growth, plays a significant role in the Prestige Cosmetics & Fragrances market.
In 2024, the revenue in this market segment amounts to a substantial US$34.03m.
This figure reflects the revenue generated by prestigious cosmetics and fragrances brands within the country.
Looking ahead, the market is projected to experience steady growth.
It is expected to increase annually by 3.88%, according to the Compound Annual Growth Rate (CAGR) estimated for the period from 2024 to 2028.
This growth indicates a positive trajectory for the Prestige Cosmetics & Fragrances market in Luxembourg.
In a global context, it is worth noting that in the United States leads the pack in terms of revenue generation.
In 2024, in the United States is projected to generate a staggering US$13,080m in revenue within the Prestige Cosmetics & Fragrances market.
This substantial figure highlights the dominance of the US market in this industry.
To provide further insight, it is important to consider the revenue generated per person in Luxembourg.
In 2024, the per capita revenue in the Prestige Cosmetics & Fragrances market is estimated to be US$51.43.
This figure demonstrates the average revenue generated by each individual in Luxembourg in relation to the overall population.
In conclusion, in Luxembourg, with its strong economy and discerning consumer base, plays a significant role in the Prestige Cosmetics & Fragrances market.
The revenue generated within this market segment in 2024, amounting to US$34.03m, reflects the country's contribution to this industry.
With a projected annual growth rate of 3.88%, in Luxembourg is poised for further expansion in this sector.
Additionally, the comparison to in the United States, which leads in revenue generation, and the per capita revenue of US$51.43, provide valuable context for understanding the market dynamics in Luxembourg.
Luxembourg's affluent population fuels the demand for high-end cosmetics and fragrances, making it a lucrative market for prestige brands.

Key regions: South Korea, Russia, Japan, Italy, United Kingdom

Prestige Cosmetics and Fragrances are comprised of Prestige Skin Care, Fragrances and Decorative Cosmetics. Skin care products constitute the bulk of sales with roughly 50 percent of all sales revenues. With a high share of licensed designer and celebrity-themed products, prestige beauty products stand out from the other luxury segments covered here due to their relative affordability.

The overall market definition is aligned with the Consumer Market Outlook’s Cosmetics and Personal Care market, while here only the super- and ultra-premium range is considered, and hair care, oral care and personal hygiene products are excluded. Likewise, professional products produced for hair salons or cosmetic parlors are not included. Covered are only product sales and no beauty services.

The shown market data are based on an analysis of more than 100 of the biggest luxury companies in the world. A complete list of all companies and brands covered can be found in the methodology description. Sales by smaller companies or artisanal production unaffiliated with the companies covered are not included. All data are shown at retail value, which includes markups for retail distribution and sales taxes.

L’Óréal’s Luxe division (with brands such as Lancôme and Biotherm), Estée Lauder (Aramis, Clinique, MAC and other brands) and LVMH’s perfume and cosmetic brands (e.g. Givenchy, Benefit) as well as Coty’s Luxury and Shiseido’s Prestige divisions are the most important players in this field. The American company Coty has been expanding aggressively across luxury and consumer segments over the last years with their latest acquisition of more than 40 beauty brands by Procter & Gamble, bringing on board for example the fragrance licenses for Hugo Boss and Gucci. Burberry’s cosmetics division was also acquired by Coty in late 2017, although it is still listed here independently.

An important sales driver in cosmetics, especially fragrances, are licenses from established fashion brands. Coty, for instance, holds licenses for Burberry, Calvin Klein, Gucci, Hugo Boss and Balenciaga among others, while Estée Lauder currently licenses Ermenegildo Zegna, Michael Kors, Tommy Hilfiger and Tory Burch, and L’Óréal markets cosmetics and fragrances under the Armani, Yves Saint Laurent and Valentino brands. All sales of licensed products are attributed only to the licensee to avoid double-counting of revenues.

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Analyst Opinion

Licenses from established fashion brands are an important sales driver in cosmetics, especially fragrances. Coty, for instance, holds licenses for Burberry, Calvin Klein, Gucci, Hugo Boss, and Balenciaga, among others, while Estée Lauder currently licenses Ermenegildo Zegna, Michael Kors, Tommy Hilfiger, and Tory Burch, and L’Oréal markets cosmetics and fragrances under the Armani, Yves Saint Laurent, and Valentino brands.

Methodology

The Prestige Cosmetics & Fragrances market is built on resources from the Statista platform as well as on in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. We evaluate the status quo of the market, monitor trends, and create an independent forecast regarding market developments of the global Prestige Cosmetics & Fragrances industry.