Report Overview

India Fragrances and Perfumes Market - Industry Trends & Forecast Report, 2029

India fragrances and perfumes market size is expected to expand at a steady CAGR of 22.4% during the forecast period between 2023 and 2029. Major growth factors of India fragrances and perfumes market include increasing personal care, brand recognition, higher disposable income, surging demand in middle-class population and affordable aroma in the form of mass perfumes and deodorants. Unisex scents are becoming more popular due to a paradigm shift in social constructs and an understanding of gender flexibility. Deepening penetration of smartphones and Internet, particularly in tier II and tier III cities, has made e-commerce platforms accessible to customers, facilitating online shopping. Furthermore, as Indians have become aware of global trends, demand for international fragrance names such as Dolce & Gabbana, Giorgio Armani, Hugo Boss, and Montblanc has increased. Therefore, such factors are expected to bolster the expansion of India fragrances and perfumes market during the forecast period.

India Fragrances and Perfumes Market

Growth Drivers

Increasing expenditure on advertisement and promotion

R&D and advertising are propelling the market growth. These elements are being invested in by key players to influence consumer purchasing decisions. Furthermore, the growing influence of social media and celebrity advertisements is influencing significant market participants' advertising strategies. With the growth of online sales, cosmetics and perfume businesses are increasingly integrating photos and videos to encourage perfume and fragrance sales. Some online cosmetics merchants offer customized perfume. As a result, the major market participants are actively investing in advertising and promotion to entice consumers to use digital platforms. For example, L'Oréal created the cockpit tool, which evaluates the RoI and productivity of its media investments in real time.

Restraints

Side effects and not adhering to quality requirements

Toxic compounds contained in most fragrance products, such as ethanol, formaldehyde, and benzaldehyde, commonly cause rashes or burning sensations, as well as inflammation, dryness, redness, and irritation of the skin. Consumers who are aware of the risks of these compounds avoid purchasing and utilizing them. As a result, the sales margins of chemical-based fragrance companies decline, fueling the expansion of herbal fragrance product companies in India. There are several key players in the fragrance products industry in India who do not comply to the quality requirements imposed by authorities such as CIRS (Chemical Inspection & Regulation Service), the Drugs & Cosmetics Act, ISO (International Organization for Standardization), and GMP (Good Manufacturing Practice).   

Impact of COVID-19 on India Fragrances and Perfumes Market

COVID-19 had a detrimental effect on India fragrances and perfumes market. The shutdown of department stores, airport stores, specialized stores, and the unavailability of products owing to transportation limitations reduced sales of aroma products. Offline sales plummeted as individuals became fearful of leaving their homes, even to acquire necessities. Therefore, such factors restrained the overall market expansion. Despite the challenges, house perfumes (candles, room mists, and essential fragrance oil diffusers) are rapidly being purchased to create a sense of serenity in the home. During the COVID-19 pandemic, scent and candle containers played an important part in self-care. Fine scents were used as stress relievers for mental well-being, resulting in an increase in fragrance demand. Customers' demand for sizable perfumed fragrant candles and perfumes skyrocketed during lockdowns due to stay-at-home orders. Hence, all these factors have contributed to the expansion of India fragrances and perfumes market.

India Fragrances and Perfumes Market

Segmental Coverage

India Fragrances and Perfumes Market – By Product

On basis of product, India fragrances and perfumes market is divided into Parfum or De Parfum, Eau De Parfum (EDP), Eau De Toilette (EDT), and Eau De Cologne (EDC). The Eau De Parfum (EDP) segment is expected to hold the highest market share due to its features such as intense, luxurious and fuller and it lingers throughout the day.

India Fragrances and Perfumes Market – By Type

Based on type, India fragrances and perfumes market is bifurcated into Mass and Premium.

India Fragrances and Perfumes Market – By End User

Based on end user, India fragrances and perfumes market is split into Male and Female segments.

India Fragrances and Perfumes Market – Distribution Channel

Based on distribution channel, India fragrances and perfumes market is split into Online and Offline segments. The offline segment holds a higher market share. Consumers choose offline channel for purchasing their items, as it provides a wide range of selections as well as the chance to scan the product specifications before making a purchase. Offline segment includes supermarkets/hypermarkets, specialty stores, and convenience stores. Sales from specialist stores sell high-end products.

Competitive Landscape

Major players operating in India fragrances and perfumes market include Avon Products Inc., Beiersdorf AG, CavinKare Pvt. Ltd., Emami Ltd., Hindustan Unilever Ltd., ITC Ltd., Marico Ltd., McNROE Consumer Products Pvt. Ltd, The Raymond Corp., and VINI INTERNATIONAL FZE. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

• In October 2022 - Al-Nuaim, a major perfume and attar maker based in India, launched its new sub-brand, EFTINA.

• In 2020 - Purpos Planet was launched as part of a restructuring process to diversify and grow the RIYA brand. RIYA has a wide selection of perfumes, deodorants, room fresheners, and air fresheners with pan-India presence.

Scope of the Report

By Product Type

• Parfum or De Parfum

• Eau De Parfum (EDP)

• Eau De Toilette (EDT)

• Eau De Cologne (EDC)

By Type

• Mass

• Premium

By End User

• Male

• Female

By Distribution Channel

• Online

• Offline

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. India Fragrances and Perfumes Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Rising Expenditure on Advertisement and Promotion
         2. Surging demand of beauty products
         3. Rising consumer preferences towards online shopping
      2. Restraints
         1. High R&D costs
      3. Opportunities
         1. Rising consumer spendings on luxury fragrances
         2. Innovative branding of product & advertising strategies
      4. Challenges
         1. Availability of counterfeit products
         2. Others
   3. Technological Advancement/Recent Development
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. India Fragrances and Perfumes Market Overview
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Product Type
         1. Parfum or De Parfum
         2. Eau De Parfum (EDP)
         3. Eau De Toilette (EDT)
         4. Eau De Cologne (EDC)
         5. Others
      2. By Type
         1. Mass
         2. Premium
      3. By End User
         1. Male
         2. Female
      4. By Distribution Channel
         1. Online
         2. Offline
            1. Supermarkets/Hypermarkets
            2. Specialty Stores
            3. Convenience Stores
            4. Others
5. Competitive Landscape
   1. List of Key Players and Their Range
   2. India Fragrances and Perfumes Company Market Share Analysis, 2022
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, and others)
6. Impact of Covid-19 on India Fragrances and Perfumes Market Industry
7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)
   1. Avon Products Inc.
   2. Beiersdorf AG
   3. CavinKare Pvt. Ltd.
   4. Emami Ltd.
   5. Hindustan Unilever Ltd.
   6. ITC Ltd.
   7. Marico Ltd.
   8. McNROE Consumer Products Pvt. Ltd
   9. The Raymond Corp.
   10. VINI INTERNATIONAL FZE
   11. Other Prominent Players
8. Key Strategic Recommendations
9. Research Methodology
   1. Qualitative Research
      1. Primary & Secondary Research
   2. Quantitative Research
   3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
   4. Breakdown of Primary Research Respondents, By Region
   5. Assumption & Limitation

List of Figures

Figure 1        India Fragrances and Perfumes Market Segmentation                                                                        

Figure 2        India Fragrances and Perfumes Market Value Chain Analysis                                                                        

Figure 3        Company Market Share Analysis, 2022                                                                         

Figure 4        India Fragrances and Perfumes Market Size, By Value (USD Million), 2019–2029                                                                          

Figure 5        India Fragrances and Perfumes Market Share, By Product Type, By Value, 2019–2029                                                                          

Figure 6        India Fragrances and Perfumes Market Share, By Type, By Value, 2019–2029                                                                     

Figure 7        India Fragrances and Perfumes Market Share, By End User, By Value, 2019–2029                                                                        

Figure 8        India Fragrances and Perfumes Market Share, By Distribution Channel, By Value, 2019–2029                                                                                                                                         

List of Tables                                                                                  

Table 1         India Fragrances and Perfumes Market Size, By Product Type, By Value, 2019–2029

Table 2         India Fragrances and Perfumes Market Size, By Type, By Value, 2019–2029

Table 3         India Fragrances and Perfumes Market Size, By End User, By Value, 2019–2029

Table 4         India Fragrances and Perfumes Market Size, By Distribution Channel, By Value, 2019–2029

Table 5         Avon Products Inc. Company Overview

Table 6         Avon Products Inc. Financial Overview

Table 7         Beiersdorf AG Company Overview

Table 8         Beiersdorf AG Financial Overview

Table 9         CavinKare Pvt. Ltd. Company Overview

Table 10        CavinKare Pvt. Ltd. Financial Overview

Table 11        Emami Ltd. Company Overview

Table 12        Emami Ltd. Financial Overview

Table 13        Hindustan Marico Ltd. Ltd. Company Overview

Table 14        Hindustan Marico Ltd. Ltd. Financial Overview

Table 15        Marico Ltd. Limited​ Company Overview

Table 16        Marico Ltd. Limited​ Financial Overview

Table 17        McNROE Consumer Products Pvt. Ltd Company Overview

Table 18        McNROE Consumer Products Pvt. Ltd Financial Overview

Table 19        The Raymond Corp. Company Overview

Table 20        The Raymond Corp. Financial Overview

Table 21        VINI INTERNATIONAL FZE Company Overview

Table 22        VINI INTERNATIONAL FZE Financial Overview