Spain Perfume Market Research Report, 2027

Spain Perfume Market Research Report, 2027

Actual Market Research 30-11-2022 60 Pages Figures : 7 Tables : 20 Region : Europe Country : Spain Category : Consumer Goods & Services Beauty & Personal Care

The scents found in Spanish perfumes are diverse and reflect many aspects of Spanish culture. Perhaps most alluring is the overwhelming joy and energy of these scents. The sun is captured by Spanish perfumers like no other. Their use of citrus fruits is par excellence, distilling the vibrant, zesty life force of Spanish oranges and lemons and, more importantly, translating a longevity rarely seen in this fragrance's family. I'm here. For example, Alvarez Gómez's Agua de Colonia, which is more than 100 years old, has that iridescent glow that lingers on the skin for hours, layered with lemon on top of the dry down. Flowers are also a specialty of Spain, especially with their luxurious scents like jasmine and tuberose. Spaniards are very passionate, emotional, warm, and spontaneous, and their perfumes reflect these qualities. "Vibrant woods and leather, fragrant herbs, and sparkling flowers captured by the forces of nature literally explode from the bottle with an irrepressible joie de vivre”. Paco Rabanne, Adolfo Dominguez, Antonio Banderas, Custo Barcelona, and Massimo Dutti are some of the best and most well-known perfume brands in Spain. According to Research Report “Spain Perfume Market Research Report, 2027” published by Actual Market Research, the market is expected to add USD 0.39 Billion by 2027. The Spain perfume market is gaining momentum due to rising personal care trends and growing demand for exotic scents for young people. Moreover, product diversification by manufacturers is attracting more consumer segments. Apart from that, rising consumer spending on luxury fragrances due to rising income levels and rising living standards continues to boost perfume sales. Other major factors propelling the demand for perfumes worldwide are rapid urbanization, increasing population and aggressive advertising by the manufacturers. However, the availability of counterfeit goods is one of the biggest challenges for the market. Scent personalization is an emerging trend among millennials and will continue as younger consumers want to wear unique scents. This allows users to associate scents with their personalities on an emotional level, allowing them to choose and control scents. Users are willing to pay a high price for personalization by associating scent with memories. Alternative ingredients are used to create fragrances by perfumers. Personalization also provides opportunities for perfume suppliers to build long-term, trustworthy relationships with their customers. There are 47.33 Million people living in Spain, including 23.29 Million men and 24.04 Million women. An estimated 30.98 Million people, or the majority of the population, are between the ages of 15 and 65. 38.34 Million People live in urban regions, compared to people who live in rural areas. According to the World Bank, Spain is expected to have a GDP of $1.43 Trillion USD, an inflation rate of 3.1%, and a per capita income of $30,115.7. Due to increasing population of women in country, the consumption of fragrance is also increasing contributing to the growth of Fragrance market in Spain. Based on Distribution Channel, Offline segment leads the market which includes hypermarket/ Supermarkets, Convenience Stores, Specialty Stores, etc. The biggest hypermarkets and supermarkets in the Spain are Mercadona, Carrefour, Alcampo, and Eroski. Mercadona, the country's largest grocery chain, has more than 1,500 outlets. The Online segment is projected to expand at a remarkable CAGR over the forecast period, which can be attributed to increasing internet penetration rates across Spain. E-commerce platforms offer a wide range of products to their consumers at attractive discounts, and they provide multiple payment options such as net banking, debit cards, and credit cards, which are some of the important factors augmenting the segment's growth. Perfume dreams, Amaffi, Antonio Banderas Perfumes, Xejorff Universe, The Perfume Shop, Firmenich, and Alrehab Perfumes are some of the well-known websites to buy perfume online in Spain. Based on Product type, Eau De Parfum is one of the leading segments in the market as it has highest level of fragrance concentrations and includes a huge percentage of essential oils as compared to other types. Parfum is expected to be fastest growing during forecast period owing to its higher concentration and longevity of fragrance scent. Based on End User, Women segment leads the market as women populations are inclined towards sustainable fragrances for their personal grooming purposes. Men segment is expected to grow at faster rate during forecast period due to increasing personal hygiene & grooming awareness among men. Men fragrances are stronger and more aromatic in nature, which, in turn, may increase the product’s adoption. On the basis of Product, Premium segment is leading the market due to personalization, product differentiation and quality and increasing demand for handcrafted and exclusive products. Mass products segment is expected to grow at faster rate during forecast period due to increasing production which results to increasing demand. Based on Nature Type, Synthetic Perfume leads the market due to increased production and consumption among people. Natural Perfume is expected to grow at significant rate during forecast period due to increasing awareness about use of organic products to avoid skin related problems or allergies. Recent Development: • In June 2021, the perfume house Iberchem presented the official perfume of the Spain Pavilion at the Dubai World Expo. The fragrance, created by Iberchem’s Head Perfumer Luz Vaquero, is one of the many projects Iberchem will be showcasing at the Dubai World Expo. For the first time in its history, the Spain Pavilion will benefit from a range of olfactory installations, outlining the importance of the fragrance industry in the country. Covid-19 Impact: The COVID-19 crisis has accelerated the transformation of the sector, especially regarding distribution, a key link in the perfume value chain. Leading perfumers have had to compensate for brick-and-mortar store closures by expanding digital sales channels, especially specialized e-commerce sites. Faced with this trend, brick-and-mortar retailers must innovate and communicate to keep customers engaged in their stores. The ones most likely to buck this trend are large, powerful networks that are either bringing independent brands into the group or risking their disappearance. Online retailers are recognizing growing interest as home consumers seek alternatives to retail. Some cosmetics brands, inventories, and mail-order retailers have reported doubling their e-commerce sales compared to pre-COVID-19. Considered in this report • Geography: Spain • Historic year: 2016 • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • Spain Perfume market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation 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.

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