The Latin America, Middle East and Africa Perfumes And Deodorants Market would witness market growth of 7.2% CAGR during the forecast period (2021-2027).
A perfume refers to the combination of fragrant essential oils or aroma compounds and the fixatives or solvents, which give a pleasant fragrance to a person. Whereas, deodorant is a compound, which is used on the body to prevent body odor owing to the bacterial breakdown of various body parts.
The rising disposable income of customers across the globe is expanding their capacity to invest in luxurious products & services. This rise in disposable income is increasing the spending power of the consumers on various products. Thus, the demand for perfumes & deodorants is estimated to surge during the forecast period.
People are shifting their preference towards using premium quality personal care products, which offer numerous benefits to the consumers. Moreover, this willingness of consumers on spending perfumes & deodorants is motivating manufacturers to introduce a variety of products to attract more consumers and expand their customer base. Hence, the perfumes & deodorants market is anticipated to witness a surge during the forecast period.
People in the LAMEA region are becoming more aware of personal care and are willing to invest more in personal care products & services, which is opening lucrative opportunities for the key market players. The high living standard in developed nations of this region is creating more demand for perfumes & deodorants products. In addition, the rural area and semi-urban areas of South Africa could be a potential market for the key market players.
Several companies are making various strategies and carrying out numerous promotional activities to cover the untapped market in this region. Moreover, the increasing adoption of personal care products as a part of better living standards is pushing the regional market forward. All these factors are collaboratively spurring regional growth.
The Deodorants market dominated the Saudi Arabia Perfumes & Deodorants Market by Type in 2020, thereby, achieving a market value of $247.2 million by 2027. The Perfumes market is expected to witness a CAGR of 8.5% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Perfumes and Deodorants Market is Predict to reach $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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