GITNUX MARKETDATA REPORT 2024

Must-Know Fragrance Industry Statistics [Current Data]

In this post, we explore key statistics shaping the fragrance industry, offering insights into consumer behaviors, market trends, and the impact of external factors such as the COVID-19 pandemic. From the dominance of European markets to shifting preferences in product selection and sales channels, these data points shed light on the current landscape and future projections for the global perfume sector.

Statistic 1

"Europeans are the top perfume exporters and importers, accounting for 29.6% of exports and 1.55 billion dollars of imports."

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Statistic 2

"German people prioritize brand over price when selecting a fragrance product, and this preference has remained consistent over the last five years."

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Statistic 3

"The market value of men’s fragrances has risen substantially since 2014 and remains stable, with premium fragrances dominating the British market."

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Statistic 4

"The proportion of global perfume purchases offline is 3 times greater than online purchases, however the number of online buyers is increasing."

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Statistic 5

"Europeans are the top perfume exporters and importers, accounting for 29.6% of exports and 1.55 billion dollars of imports."

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Statistic 6

"The fragrance industry suffered a 13.6% decrease in revenue in 2020 due to the pandemic, but is expected to increase to 65.8 billion dollars by 2026."

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Statistic 7

"Fragrance sales volume increased three-fold in 2019 compared to the previous year, reaching its highest level in nearly a decade."

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Statistic 8

"UK perfume manufacturers have seen a halving of their turnover since 2015, despite a peak in the five years after 2010."

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In conclusion, the fragrance industry statistics reveal a dynamic market landscape shaped by various trends and factors. Europeans stand out as key players in both perfume exports and imports, while German consumers consistently prioritize brand over price. The market for men’s fragrances in the UK is growing steadily, with a preference for premium products. Although offline purchases still dominate globally, online buyers are on the rise. The industry faced a significant revenue decline in 2020 due to the pandemic, but is projected to rebound strongly by 2026. Despite a surge in sales volume in recent years, UK perfume manufacturers have experienced a decline in turnover since 2015. These statistics highlight the resilience and adaptability of the fragrance industry in response to changing consumer preferences and market conditions.

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