The Europe Perfumes and Deodorants Market would witness market growth of 10.2% CAGR during the forecast period (2021-2027).
The Europe Perfumes And Deodorants Market would witness market growth of 6% CAGR during the forecast period (2021-2027).
The rising demand for vegan products across the globe is boosting the demand for cruelty-free fragrances, which is further propelling the growth of the perfumes & deodorants market. The increasing popularity of vegan culture is encouraging the perfumes & deodorants brands to focus on making products, which can target the growing population of green consumers or vegan population across the globe.
In the last few years, many perfumes and deodorant companies have introduced several vegan products with an aim to attract more consumers. For example, The Perfume Shop Limited, a U.K.-based perfume retailer, August 2019, unveiled its range of vegan perfumes under three brands, named Citrus Fresco, Amber Glow, and Peppered Earth. These perfumes are cruelty-free & vegan certified and packaged by utilizing 100% recyclable materials.
The European region includes France, which is a very popular region for its French fragrance. It is one of the most popular fragrances across the globe, which is contributing to the overall growth of the region. The high usage of perfumes & deodorants by the people residing in this region is supporting the strategies of the perfumes & deodorants companies and accelerating the regional growth.
The rise in spending of customers on premium and luxurious perfumes & deodorants is opening new lucrative opportunities for the key market players. In addition, the increasing demand for natural products is among the driving factors of the regional market. The growing demand for French perfumes all over Europe would augment the growth of the market over the forecast period.
The Germany market dominated the Europe Perfumes Market by Country in 2020, thereby, achieving a market value of $2,534.5 million by 2027. The UK market is exhibiting a CAGR of 5.4% during (2021-2027). Additionally, The France market is poised to grow at a CAGR of 7.7% during (2021-2027).
Based on Distribution Channel, the market is segmented into Supermarkets & Hypermarkets, Specialty Stores, Pharmacies, E-commerce and Other Distribution Channels. Based on Type, the market is segmented into Deodorants and Perfumes. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Perfumes and Deodorants Market Size will Hit $89.2 Billion by 2027, at a CAGR of 6.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Unilever PLC, LVMH SE, Beiersdorf AG, L'Oreal Group, Estee Lauder Companies, Inc., Firmenich S.A., Revlon, Inc. (MacAndrews & Forbes), Giorgio Armani S.p.A, PVH Corporation (Calvin Klein), and Burberry Group PLC.
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