Perfume market

A CURIOUS PUBLIC

In South East Asia, consumers expectations are unique and fluctuant, creating distinctive challenges for brands and fragrance experts alike.

With one of the fastest-growing and most affluent middle-class populations in the world, the unwavering appetite for niche perfumes is expanding. International brands are still dominating consumer's minds but local brands are gaining market place more quickly than expected.

  • Asia-Pacific is the fastest growing region for fragrance sand perfume in the global marketplace.

  • 2019: the market value of fragrances in the Asia Pacific region amounted to ~$12.56 billion

  • 2020:Asia Pacific represented 13% of the global premium perfume market.

  • 2024: forecasted to reach ~$15.87 billion

Why ?

Fragrance have impeccably altered the personal grooming habits of individuals. Previously perceived as a commodity of the affluent, these have gradually become the essential day-to-day products for the general public. These products are also used to express personal panache, self-reliance, and individuality.

The sense of smell is one of the great wonders of the human body. For fragrance users, scent serves as a representative of the individual and due to the pandemic era, consumers are replacing cosmetics with perfumes as a way of expressing themselves.

 

Quality
Artistry
Identity

NICHE PERFUME

Niche perfume is a perfume made by companies dedicated primarily to the creation of perfume, as opposed to the perfume of fashion houses or famous personalities.

While the big brands may still dominate, they are facing stiff competition from these so-called cult brands as consumers lean towards a more personalized and intimate fragrance experience.

The reliance on e-commerce has pushed these brands to adapt to selling perfumes without influencing the consumers olfactory sense.

Niche and high-end perfume markets, dominated by imported brands would grow by 18%.*

Most notably, Gen Z preferences are shaping the trend and gender-nonspecific scents, with more personality, are particularly appealing.

SOLID PERFUME

Consumers in their 20s are more likely to experiment with alternative formats, such as mini-size and solid perfumes.
Compared to liquid perfume, solid perfume is easier to carry, the scent is lighter, and the price is more affordable. Since it’s free of alcohol, the product is gentler for sensitive skin.

 

IN CHINA

perfume EL DORADO

China alone showed a 15% growth for the perfume sector.*

Perfume consumption: 2017: ~$867 million** 2020:~$1.76 billion

  • Chinese consumers prefer lighter, fruitier, and fresher fragrances.

  • In a country whose economy is one of the few that ended the year 2020 with a positive growth rate, and where the gross disposable income has doubled since 2010, the situation is highly favorable to the consumption of perfumes.

  • Success in the Chinese market requires fragrance brands to pay attention to culturally valued elements such as elegance and cuteness.

*Takasago **iReasearch

PATRIOTIC PERFUME

Young consumers aren’t just looking for novelty perfumes; they also crave scents and imagery that evoke a sense of their cultural identities.
To compete in East Asia’s perfume markets, international brands must revisit their product storylines and fit them into younger consumer lifestyles. By taking inspiration from Asia’s literary traditions and everyday customs, local brands have successfully created a sense of identity that resonates with younger consumers and strengthens an emotional link to their scents.


Chinese fragrances: To Summer, RECLASSIFIED, Maison Dixsept, UTTORI

IN KOREA

FAITHFUL TO THE INDUSTRY

  • Perfume sales in department stores have exploded while airport sales have fallen dramatically (no more travelers).

  • In 2020, the growing trend for gender neutral and gender flexible products made itself known in fragrances.This trend was noticeable in both mass fragrances and premium fragrances.

  • Cosmetics sales at department stores dropped while perfume sales at Lotte jumped by 34% and 49.7% at Shinsegae.

  • S.I.VILLAGE, a luxury shopping platform run by the country’s leading retailer Shinsegae Group, saw January’s perfume sales jump by a whopping 772% compared to the same month in 2020.

Korean fragrances: NONFICTION 논픽션, LIBER 리베르, SALON DE NEVAEH 살롱 드 느바에

IN SINGAPORE

MANUFACTURING & INNOVATION HUB

  • Despite its small size, Singapore is a prosperous territory for the perfume market.The population is curious, modern and has great importance for beauty and well-being.

  • Givaudin, the world's largest company in the aroma and perfume sector, has made its largest investment on the island (new production platform), strengthening its presence in Asia close to key customers and their markets.

  • France 3rd export destination for cosmetic products (1-skincare 2-perfumes)*

*FEBEA

Singaporean fragrances: Maison de L’Asie, Oo La Lab, Maison 21G

IN JAPAN

LATE BUT APPRECIATED

Kôsui (香水) water that smells good

  • French brands are well represented and share 31.5% of Japanese imports with a share of over 60% for perfumes.

  • In Japan the "perfume" is traditionally reserved for the domestic sphere. Living room, bathroom, cousins, curtains, the fragrances that we spray rarely leave the interior of the house.A way of respecting the customs in force, by allowing to enjoy scents without encroaching on the olfactory sphere of others.

  • Nevertheless, international brands have succeeded in establishing themselves and attracting customers, above all thanks to a new generation which is opening up to new horizons.

    Among the most used perfumes, flowers and fruits are on the rise.

Japanese fragrances: Shiro, J-Scent, Lina Bada…

beautyLisa L'hirondelleperfume, le laïus