Fragrance Market - Global Industry Analysis and Forecast to 2020, by Persistence Market Research

New York, NY, December 12, 2014 --(PR.com)-- Commonly known as perfume, fragrance is a mixture of essential oils or aroma compounds, fixatives and solvents commonly used to provide pleasant scent to the human body, animals, food, objects and any living space. Over the years, people used herbs and spices such as almond, coriander, myrtle, conifer resin and bergamot as well as flowers to provide pleasant aroma or scent to their food ingredients. Fragrance oil also known as aromatic oil is used to provide aroma/pleasant scents to the products. These oils are blended with synthetic aroma compounds or natural essential oils which are diluted with scented oil such as, propylene glycol, vegetable oil or mineral oil. Aromatic oils are mostly used for perfumery, cosmetics and flavoring of food.

Fragrance in the western countries is mostly applied to the pulse points of the body such as behind the ears, nape of the neck and insides of wrists, elbows and knees. The pulse part of the body is warm as compared to other body parts, it provides warmth to the perfume which allow it to release continuous fragrance. The Fragrance industry manufactures various types of perfume depending upon the usage. Lightly scented products such as bath oil, shower gel and body lotion are used in the morning, eau de toilette for afternoon and perfume for evening. Perfume can hold its scent for a longer period of time as compared to other scented products.

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Global fragrance market can be bifurcated into three categories such as perfume, deodorant and others. Household users has the largest market share for fragrance products, followed by personal care. North America has the largest market share for fragrance products, followed by Europe and Asia-Pacific. Asia-Pacific region is expected to show highest growth for fragrance products in coming future owing to increasing domestic demand in the developing countries such as India and China.

An increasing population coupled with increasing disposable income in the developing countries such as India and china is expected to drive the global fragrance market. Increasing disposable income allow the customer to spend more on luxury products among which fragrance plays key role.

According to the National Bureau of Statistics China, annual per capita disposable income of urban households in China increased from USD 2,271.0 in 2008 to USD 3408.5 in 2012. The overall annual disposable income in India medium household income increased from USD 1,366.2 billion in 2010 to USD 1,587.6 billion in 2013. Additionally, the use of fragrances for the reduction of stress and change in moods and increasing use of fragrances by households is expected to provide ample growth opportunities for the global fragrance market. Appearance and personal care have a sense of pride, self reliance and confidence. From being a non-essential product fragrance/perfume have emerged as an essential product in today’s era. Also, economic development in growing markets coupled with increased demand for youth-oriented fragrances and celebrity scents are expected to drive the global fragrance market.

Key points covered in the report:
1) Report segments the market on the basis of types, application, products, technology, etc (as applicable)
2) The report covers geographic segmentation
North America
Europe
Asia
RoW
3) The report provides the market size and forecast for the different segments and geographies for the period of 2010 to 2020
4) The report provides company profiles of some of the leading companies operating in the market
5) The report also provides porters five forces analysis of the market.

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