US Cosmetics and Personal Care Industry Trends, US Perfumes Import Value - Ken Research
Fragrances or perfumes are a mixture of
essential oils, aroma compounds, water and/or alcohol that are used to enhance
human body odour. A significant innovation has been experienced in the perfumes
industry over the past few years. The perfumes with natural and renewable
ingredients are of great demand and are getting a good traction with
traditional perfume packaging methods.
Perfumes are available in the form of travel
sprays and roller balls, which boost the perfumes market growth over the coming
years. Perfumes with natural ingredients project a higher growth rate compared
to perfumes with synthetic ingredients. Consumers are concerned about the
synthetic chemicals in perfumes and are demanding for perfumes with natural
ingredients.
According to the report, “Fragrances in the US”, it has been observed that the younger population is more familiarized
to perfumes. Major factors affecting the usage of perfumes are increasing
online retailing, innovative products by leading competitors, affordable
perfume price and increasing consumer spending is driving the growth in the
perfume market in the USA. The huge availability of fake perfumes with harmful
chemical ingredients is a major factor hampering the growth of the perfumes
market. A positive growth has been observed in the USA perfumes market in the
recent years with the use of renewable ingredients such as microbial based
natural perfumes to satisfy the increasing health awareness among consumers.
Few alcohol free perfume products and Unisex
Perfumes are expected to witness a higher growth rate with the rise in the
number of perfume products. Online Retailing has registered a significant
growth with attractive offers. Majority of the leading players are entering
into partnerships with e-commerce players to boost their sales through internet
retailing.
The perfume market is classified into premium
and mass products. Premium perfume products dominate the perfume market and
account for the majority of the total sales. The global competitors in the
perfume market are Avon Products Inc., Natura Cosméticos SA, Chanel SA, Coty
Inc., LVMH and L'Oréal Groupe.
Prestigious products are thriving in the US
perfume market but consumers are moving away from gender-based scents and are
attracted towards unique personal appeal perfumes. The ongoing economic
recovery in the USA and dropping fuel prices has enabled the consumers to
increase their spending on perfumes. The perfumes in the USA are sold primarily
in departmental stores. The perfume sales in the departmental store include
fragrances such as Demeter Fragrance Library’s Oud, Jo Malone, Tom Ford, Bond
No. 9, Estée Lauder’s Modern Muse, Coty’s Marc Jacobs Honey. Celebrity perfumes
such as scents from Rihanna, One Direction and Taylor Swift exhibit tremendous
growth in the perfume market that is driven by an older, more sophisticated
consumers. Therefore, it is predicted that premium perfume brands will continue
to outperform mass perfume brands.
Bloomingdale has launched the perfume brand
Tory Burch exclusively, Sephora that has launched its multi-branded fragrance
samplers, and Saks launched its mini-fragrance collections and fragrance sets
such as Carven and Viktor & Rolf’s Flowerbomb. Coty is another leading
perfume competitor in USA with a wide variety of brands such as Bottega Veneta,
Calvin Klein, Chopard, Cerrutti, Marc Jacobs, Chloé, Roberto Cavalli, Sarah
Jessica Parker, Beyoncé, Lady Gaga, Madonna, Vivienne Westwood, Vera Wang, and
Davidoff. Inter Parfums is another leading successful competitor with slightly
more prestige perfumes such as Lanvin, Van Cleef & Arpels, Balmain, Agent
Provocateur, Boucheron, Jimmy Choo, Karl Lagerfeld, Montblanc, Paul Smith, S.T.
Dupont, Repetto, Alfred Dunhill, Anna Sui, Shanghai Tang, Oscar de la Renta,
Gap, Brooks Brothers, Bebe, and Betsey Johnson.
Premium fragrance brands such as Jo Malone,
Modern Muse and Tom Ford are historically witnessing a continuing growth with a
limited edition of fragrance products exclusively for the holiday seasons.
Elizabeth Arden is a leading distributor of perfumes that controls the largest
share of the perfume market in the USA. Elizabeth Arden supplies to the premium
consumers and has witnessed a downfall due to decrease in the USA perfume
sales.
Floral fragrances along with less traditional
perfumes are gaining more attention from female consumers in USA. The
innovation of more artisanal scents in the USA market women are experimenting
and exploring various options. Woody oriental fragrance and soft floral are the
leading women’s prestige fragrances sold in the US. American gentlemen really
love their perfumes or fragrances and are spending a fortune on them.
The rising population in the USA, growing
urbanization, higher consumer spending capacity and variety of perfume products
are some of the other major factors affecting the perfumes market
worldwide. With the increasing
population there is increasing demand for premium and mass perfumes products
among the consumers.
Improved consumer confidence, increased
perfume products is driving growth of both women and men perfume market.
Consumers are demanding for added product benefits such as mood boosting,
anti-aging, innovative forms and extending perfumes in the additional product
categories.
Healthy category growth is combined with
innovative products making it an exciting time for the perfume market in the
USA. The perfume industry is slowly and steadily growing with the passing
years. The country is continuing to emerge from its economic recession and
return to a normal level and growth in the perfume industry will witness a
healthy growth in the coming years.
Key Topics Covered in the
Report
US Fragrances Market Research Report
US Fragrances and Perfumes Market Demand
US Perfumes Industry Future Outlook
US Fragrances Market Segmentation
US Fragrant Sprays Market Revenue
US Perfumes Industry Leading Brands
US Synthetic Fragrances Market Growth
Opportunities
US Perfumes Import Value
US Perfumes Export Value
US Cosmetics and Personal Care Industry
Trends
US Natural Personal Fragrances Industry
Outlook
Global Fragrances Industry Trend Analysis
To know more about the
research report:
Related reports:
Contact:
Ken Research
Ankur Gupta, Head Marketing &
Communications
+91-124-4230204
Comments