Fragrance & Perfume Market Size

Fragrance & Perfume Market size was valued at USD 52.49 billion in 2024 and is anticipated to cross USD 97.76 billion by the end of 2037, registering more than 4.9% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of fragrance & perfume is estimated at USD 54.55 billion.

The growth of the market can be attributed to the increasing demand for perfumes. Globally, around 28% of customers spend a medium amount on perfume, with nearly 18% purchasing high-end/premium versions. Freshness has emerged as a major consumer trend in recent years. Buyers are becoming even more considerate of the things they add to their shopping carts, preferring those that make a significant difference in their everyday lives.

In addition to these, factors that are believed to fuel the market growth of fragrance and perfume is the emergence of consultancy services, which is helping companies to understand the manufacturing and distribution of perfumes and other fragrances. Consultancy service is a boon to any budding organization, who wants to learn about the manufacturing of the products even flavors and notes of the perfumes. The consultancy may produce a comprehensive report that includes subjects such as capital requirements, raw material sourcing, plant economics, development of sites, and fragrance testing and evaluation services. Aside from that, these firms offer Aroma consultancy to vendors, contract manufacturers, companies, retailers, and a variety of other organizations. They assist their customers in creating a high-end product by leading them through the decision-making process in search of the proper scent that complements their brand image and market positioning.