Global Fragrance Market Growth and Key Players' Performance
2024-12-04
Euromonitor data indicates that the global fragrance market size is expected to be between $57 billion and $61 billion (approximately 405.549 billion yuan to 434.009 billion yuan) in 2024, and will exceed $79.296 billion (approximately 564.183 billion yuan) by 2027.
Among them, the growth of Puig Group, a newcomer to the top ten global beauty companies, mainly comes from its perfume business.
Its latest financial report points out that the perfume and fashion department maintained strong growth momentum in the third quarter, with the net income of this department contributing 73% to the group's total net income in the third quarter.
At the same time, L'Oréal Group, which has long been at the top of the beauty group, shows in its financial report that corresponding to the overall slowdown of the group's growth rate, the high-end cosmetics department, where the perfume business is located, has achieved accelerated growth for three consecutive quarters.
In addition, Coty's growth also mainly comes from its perfume business. The financial report points out that in the first quarter of the fiscal year 2025, Coty's net revenue increased by 2%, which is mainly due to the strong performance of all price segments of perfume business, including high-end, ultra-high-end, and mass-market fragrances.
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