South America Perfume Market Research Report, 2027

South America’s greatest olfactory and aromatic richness undoubtedly comes from nature. An abundant and titanic heritage is offered by the largest tropical forest in the world: the Amazon rainforest. It is characterized by exceptionally varied biotopes that are home to about a quarter of the world’s plant species, which is a true source of inspiration for all perfume manufacturers. It is estimated that nearly 10,000 plant species with scenting powers coexist in this environment. Only 400 of them are used in perfumery today. The industry has experienced an increase in the demand for natural fragrance ingredients lately, gaining interest from many companies in the market. According to the report, "South America Perfume Market Research Report, 2027," published by Actual Market Research, the market has grown by more than USD 0.86 Billion in size from 2016 to 2021. While gourmand perfumes remain popular in the West, perfume is becoming more popular in South America. Fragrances with floral and citrus notes are very popular in these countries, where humidity and temperatures are rising fast. Fruits, flowers, and spices thus become the favorite scented raw materials. The infatuation for these scents is also found in the beauty ritual of using body care products: grapes, avocado, mango, and Brazil nut butter provide moisture and delicately perfume the skin and hair. "Clean" smells also play a big part in the perfume of South America. Even in the way of perfuming oneself, habits are changing. South America is a fast-growing market where new trends emerge at a rapid pace every year. Other key factors driving the perfume market include changing consumer preferences, increasing demand for cleaning products, and significant advancements in technology. Apart from this, the market also faces some restraints and challenges. They include expensive research and development and compliance with quality and regulatory standards. Synthetic product-related concerns have also been one of the factors holding back the market from reaching its actual potential. The region has also seen a higher demand for fragrances from the personal care segment. The perfume industry in the region is driven by an increasingly westernized young consumer base in urban centers, along with spurring multi-channel strategies, digitalization, and the need to offer products above and beyond the basics, tapping into new areas such as experience and personalization. Brazil is the major market where fragrances have a higher demand, owing to the customer's inclination toward beauty and perfume products. Brazil is the largest market for fragrances in South America by a wide margin, although the country itself is a tale of two halves. Consumers in the northeast of the country are heavy users of fragrances, while interest wanes further south. Another driver is the growth of feminine fragrances, strengthened by the new launches. With a growing middle-class population and rising urbanization, the industry in the region is expected to grow due to the consequent change in consumption patterns. In 2017, over 85% of the Brazilian population lived in urban areas, with urbanization projected to grow at an annual rate of nearly 1%. Argentina, another leading South American economy, is the second largest market for flavour and fragrance. The industry in both of these South American nations is being driven by the change in consumption patterns as defined by the rising middle-class population. Despite the relative instability of the economies in the countries, rising perfume applications are assisting the industry's growth in these countries as well as the region as a whole. In Argentina, consumers are seeking tier-2 and tier-3 brands over premium products, with companies attracting consumers with offers and discounts on products purchased through supermarkets and direct sellers. The affordable prices offered by the key players in the perfume industry are propelling the increased growth of innovative products, with fragrances witnessing a comparatively higher demand. The fragrance sector in the country is being driven by the expansion of the sector into specialized men’s fragrances and growth in gift-based purchases around holidays and special occasions. These factors are anticipated to boost the demand for various perfume brands across the South American region. Covid-19 Impacts: The COVID-19 pandemic had a significant impact on the entire specialty chemicals sector, even reaching sensory improvement products. The South American region was also heavily impacted during the outbreak. Owing to government regulations requiring strict lockdowns and social distancing norms, many manufacturing plants remained shut. Also, the supply chain was heavily disrupted due to restrictions on transportation. However, by the end of 2020, manufacturers had re-established their manufacturing processes with greater improvements. Also, the rise in awareness of e-commerce sales across the country is boosting the growth of the South American perfume market. Major Companies present in the report Moët Hennessy Louis Vuitton (LVMH), Natura & Co., L’Oreal, Estee Lauder, CHANEL, IFF, Gucci, Hermes International, Shiseido Co. Ltd., Givaudan, Coty Inc, Firmenich S.A., Capri Holdings Ltd., Symrise, PUIG, Revlon Inc., L'Occitane International SA, Wipro Consumer Care & Lighting Considered in this report • Geography: South America • Historic year: 2016 • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • South America Perfume market with its value and forecast along with its segments • Country-wise perfume market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation Countries covered in the report • Brazil • Argentina • Colombia By Product Type • Eau De Parfum • Eau De Toilette • Eau De Cologne • Eau Fraiche • Parfum • Others By End User • Men • Women • Others By Ingredient Type • Natural • Synthetic By Product • Premium • Mass By Distribution Channel • Online • Offline The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Perfume industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.