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Travel Retail Market Key Leaders Analysis, Segmentation, Growth, Future Trends, Demands, Emerging Technology by Regional Forecast to 2029

The global travel retail market size is anticipated to hit USD 96.11 billion by 2029 and exhibit a CAGR of 8.1% during the forecast period. The increasing number of international travelers is likely to drive the market’s growth.

Regional Insights-

Asia Pacific to Hold the Lion’s Share

Asia Pacific is projected to gain the largest travel retail market share. The high expenditure on duty-free products by international and domestic travels across countries such as South Korea, India, and China is likely to fuel the growth in Asia Pacific. Furthermore, the growing partnerships between duty-free retailers for business expansion are expected to favor market growth.

Europe is likely to exhibit substantial growth in the coming years. The increasing infrastructural development for travel and tourism is expected to boost the market growth in Europe. Moreover, the strong presence of opulent cosmetics and other major duty-free brands is anticipated to favor the region’s market growth.

The rising consumer expenditure on travel and tourism will foster growth in North America.

The improving income levels of the middle-class populace will support growth in the Middle East & Africa.

Segmentation-

On the basis of product type, the market is fragmented into fashion & accessories, tobacco products, confectionery & fine foods, beverages, cosmetics, and others. On the basis of sector, the market is bifurcated into duty paid and duty-free. On the basis of sales channel, the market is segmented into border downtown hotel shops, seaport & cruise line shops, airport & airline shops, and others. Geographically, the market is classified into South America, North America, the Middle East & Africa, Asia Pacific, and Europe.

Rеаѕоnѕ to Get thіѕ Rероrt:

A qualitative and quantitative market study based on segmentation that includes both economic and non-economic factors

Data on market value for each section and sub-segment

Indicates the region and market segment that is likely to expand the fastest and dominate the market.

The consumption of the product/service in each region is highlighted, as are the factors affecting the market within each region.

The competitive landscape includes the top players' market rankings, as well as new service/product launches, collaborations, company expansions, and acquisitions made by the companies profiled in the last few years.

Drivers & Restraints-

Increasing Number of International Travelers to Boost Market Growth

The growing product demand due to the rising numbers of international and domestic travelers is likely to bolster the travel retail market growth. The improving income levels and increasing expenditure on travel by the millennial population are anticipated to be key factors stimulating the market growth. The data released by World Travel and Tourism Council (WTTC) in November 2021 estimated a 34.9% surge in the French travel & tourism industry in 2021.

The launch of promotional campaigns by key companies to lure customers into buying duty-free commodities is likely to uptick product demand and boost travel retail.

Additionally, the growing trend of sustainable duty-free shopping is likely to be a key trend expanding the market’s growth. The rising adoption of eco-friendly and sustainable practices, including biodegradable packaging, reduction and recycling, and others, by air travel retailers, is predicted to complement the market growth.

However, high prices of products may hinder market growth due to low demand.

Competitive Landscape-

Key Players Emphasize E-commerce Adoption to Expand Businesses Globally

The major players operating in the market emphasize the adoption of e-commerce to expand their businesses globally. Sales promotional offers, personalized goods retail, and others are some key methods adopted by major players to capture huge customer bases. Recently, in November 2021, Pernod Richard, a beverage company based in France, unveiled its first boutique in China’s Shenzhen Duty-free Group Haikou.

Key Industry Developments-

October 2021: Lagardere Switzerland formed a partnership with Inflyter to introduce fully digital automated solutions at Geneva Airport, Switzerland.

Browse Detailed Summary of Research Report:

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

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Baner - Mahalunge Road,

Baner, Pune-411045, Maharashtra, India.

Phone:

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UK: +44 2071 939123

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Email: [email protected]

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Mattress Market Trends, Size, Share, Regional Analysis by Key Players | Industry Forecast by Categories, Platform, End – User

The worldwide mattress market size hit USD 49.24 billion in 2021. The market value is slated to rise from USD 50.61 billion in 2022 to USD 72.95 billion by 2029, exhibiting a CAGR of 5.36% during the forecast period. The growing global demand for luxury and customized products suggests a significant shift in consumers' perceived notion of mattresses beyond durable goods to an indicator of social status.

More Info: https://www.fortunebusinessinsights.com/mattress-market-102108

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Furniture Market Trends, Size, Growth Insight, Share, Competitive Analysis, Regional and global Industry Forecast To 2028

Stylish house furnishings effectively enhance the beauty of the living space. Growing home decoration and renovation trends among the global population are primarily driving the demand for such products. Consumers mainly prefer to buy highly engineered items such as sofas, stools, chairs, and others to make their hall and dining rooms aesthetic.

More Info: https://www.fortunebusinessinsights.com/furniture-market-106357

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Baby Wipes Market Growth Analysis, Segmentation, Size, Share, Trend, Future Demand and Leading Players Updates by Forecast to 2027

The global baby wipes market size is expected to gain momentum by reaching USD 6.57 billion by 2027 while exhibiting a CAGR of 3.1% between 2020 and 2027. The growth is ascribable to factors such as the increasing prevalence of baby skin infections and the high spending power of the consumers that is propelling the demand for innovative baby wipes globally.

Baby wipes are sanitary products majorly adopted to cleanse the sensitive skin of infants. Owing to the growing demand for safe and sustainable baby products, leading manufacturers are focusing on developing eco-friendly products with sustainable formulations that suit the sensitive skin of the baby.

Stockpiling of Consumer Goods Due to COVID-19 to Favor Market Growth

Uncertainty over the future effects of the global pandemic has triggered fear amongst the consumers that are stockpiling essential goods across the globe. Owing to phases of lockdown, people want to ensure adequate supplies to avoid stepping out of their homes. This has led to a major spike in the revenue from consumer goods that including baby care products. This is likely to boost the adoption of baby wipes in the near future.

Fortune Business Insights™ lists out all the baby wipes market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:

Procter & Gamble Co. (Ohio, U.S.)

Johnson & Johnson (New Jersey, U.S.)

Kimberly Clark Corporation (Texas, U.S.)

Pigeon Corporation (Tokyo, Japan)

Hengan International Group Company Limited (Quanzhou, China)

Unicharm Corporation (Tokyo, Japan)

CPMC Holdings Ltd. (Santiago, Chile)

Nice-Pak International Limited (New York, U.S.)

Beiersdorf AG (Hamburg, Germany)

ALBAAD (Masu’ot Itzhak, Israel)

What does the Report Provide?

The market report provides an in-depth analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to announce partnerships, introduce new products, and collaboration that will further contribute to the growth of the market. Moreover, the research analyst has adopted several research methodologies to extract information about the current trends and industry developments that will drive the market growth between 2020 and 2027.

DRIVING FACTORS

Increasing Prevalence of Baby Skin Infections to Accelerate Market Growth

According to the Diaper Dermatitis Prevalence and Severity survey, conducted by the U.S. National Medicine of Library, in December 2019, about 14.9% of the infant population in Germany were found to be suffering from diaper rash problems. In addition to this, increasing incidence of skin infections such as eczema, diaper rashes, acne, and other skin allergies is leading to the growing adoption of superior quality baby wipes. The high spending capacity of consumers is further leading to the surging demand for advanced baby care products that will bode well for the global baby wipes market growth during the forecast period.

SEGMENTATION

Wet Segment Held 58.24% Market Share in 2019

The wet segment, based on the product, held a market share of about 58.24% in 2019 and is expected to gain momentum owing to the high adoption of disinfectant baby wet wipes to control viral infection across the globe.

REGIONAL INSIGHTS

Increasing Adoption of Disposable Hygiene Products in North America to Surge Demand

Among all the regions, North America is expected to remain at the forefront and hold the highest position in the global baby wipes market during the forecast period. This is attributable to the increasing adoption of disposable hygiene products that is likely to propel the demand for innovative baby wipes in the region. North America stood at USD 2.00 billion in 2019.

The market in Europe is anticipated to showcase significant growth in the forthcoming years. This growth is ascribable to factors such as the presence of established players such as Codi Group, Beiersdorf AG, and Rockline, among others that are focusing on developing advanced baby wipes products in the region between 2020 and 2027.

COMPETITIVE LANDSCAPE

Product Launches by Major Companies to Strengthen Their Market Positions

The global baby wipes market comprises small, medium, and large companies striving to maintain their position by introducing innovative baby care products to cater to the growing consumer demands. Moreover, adoption of strategies such as merger and acquisition, facility expansion, and partnership by other key players will contribute to the market growth.

Key Industry Development:

October 2020 - Niki’s Natural Wipes, an Australian baby products manufacturer, announced the launch of a revolutionary natural baby wipes product specially formulated with antiviral and antibacterial manuka honey ingredients. The launch is expected to strengthen its position in the U.S.

Browse Detailed Summary of Research Report:

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

9th Floor, Icon Tower,

Baner - Mahalunge Road,

Baner, Pune-411045, Maharashtra, India.

Phone:

US: +1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

Email: [email protected]

Fortune Business Insights™

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Condom Market Overview By Size, Share, Trends, Growth Factors, Historical Analysis, Opportunities and Industry Segments Poised for Rapid Growth by 2028

The global condom market size is expected to reach USD 10.97 billion by 2028, exhibiting a CAGR of 9.4% during the forecast period. The growing awareness regarding STDs such as, hepatitis B, Syphilis, trichomoniasis, and chlamydia can fuel demand for condoms, which, in turn, will aid the expansion of the market,

More Information: https://www.fortunebusinessinsights.com/condom-market-104519

The coronavirus incident has caused colossal loss to several industries across the globe. The governments of several countries have instigated a lockdown to thwart the spread of this deadly virus. Such plans have caused disturbances in the production and supply chain. But, with time and resolution, we will be able to combat this stern time and get back to normality. Our well-revised reports will help companies to receive in-depth information about the present scenario of every market so that you can adopt the necessary strategies accordingly.

COVID-19 IMPACT:

Increased Supply of Essential Health Products to Elevate Market amid COVID-19

The lockdown imposed by governments restricted the supply of various products. However, the accessibility and supply of essential wellness products have improved the scope of the market during the pandemic. The United Nations Population Fund (UNFPA) provided a summary in their brief published in April 2020 ‘Condoms and lubricants in the time of COVID-19’. It has provided necessary actions that needed to be taken to sustain supplies of condoms during COVID-19 to ensure unintended pregnancies and other concerns of unprotected sex do not surface during the lockdown. Moreover, the increasing product availability and enhanced supply chain with no lockdown will consequently boost the growth of the market in the time of the pandemic.

Fortune Business Insights™ lists out all the condom market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:

Reckitt Benckiser Group (Slough, U.K.)

LifeStyles Healthcare Pte Ltd (Melbourne, Australia)

Caution Wear Corp. (New Hampshire, USA)

Church & Dwight Co., Inc. (Ewing, U.S.)

Cupid Limited (Nashik, India)

Karex Berhad (Selangor, Malaysia)

CPR GmbH (Sarstedt, Germany)

ONE Condoms (Massachusetts, USA)

Sagami Rubber Industries Co., Ltd. (Kanagawa, Japan)

Okamoto Industries, Inc. (Tokyo, Japan)

Driving Factor:

Increasing Consciousness about Birth Control to Effectively Uplift Market

The growing knowledge about the use of condoms as a contraceptive can have an excellent impact on the market growth during the forecast period. As per the Contraceptive Use by Method 2019 of the United Nations report, the prevalence of male condoms has escalated from 4.5% in 1994 to 10.0% in 2019 globally. As per the same report, the number of women (those with reproductive age of 15 to 49 years) relying on male condoms as a means of contraception has substantially increased from 64 million in 1994 to 189 million in 2019.

Furthermore, the increasing utilization of other control methods such as oral pills can simultaneously improve the prospects of the market. However, oral pills have adverse effects and cause hormonal imbalance in women, resulting in serious health problems. Therefore, the weakened inclination towards contraceptive pills among women can subsequently fuel the demand. Besides, the rising sex education in developing nations can have a positive impact on the market in the forthcoming years.

Market Segments:

The market is segmented into male and female product types. The male segment is expected to dominate the market based on type owing to the higher usage rate, greater availability, and relatively lower cost compared to female product types. The market is classified into latex and non-latex. The latex segment is expected to hold a major market share due to its greater stretchability and strength compared to non-latex materials such as polyurethane. The market is divided into mass merchandisers, drug stores/pharmacies, online retail stores, and others. The drug stores/pharmacies segment is expected to hold the largest condom market share owing to the high availability of trusted brands.

Regional Insights:

Ever-increasing Population to Spur Demand in Asia Pacific

The market in Asia Pacific is lucrative and is expected to experience a rapid growth rate during the forecast period owing to the ever-increasing population and increasing education level in developing nations. The growing awareness regarding birth control methods can have an excellent impact on the market in Asia Pacific. The implementation of childbearing policies to control the population will effectually aid the growth of the market in the region. The increasing number of unwanted pregnancies will further spur demand for condoms, thus promoting the growth of the market.

As per the report, Contraceptive Use by Method 2019 of the United Nations, in Eastern and South-Eastern Asia, these are one of the most prevalent contraceptive methods accounting for 17% share in 2019. Europe and North America are expected to experience a steady growth rate due to contraceptive products' higher usage rate. As per the report, Contraceptive Use by Method 2019 of the United Nations, condoms in Europe and Northern America account for 14.6% share among all contraceptive methods in 2019.

Competitive Landscape:

Rising Emphasis on Eco-friendly Products by Prominent Companies to Spur Opportunities

To attract customers, companies are focused on producing original product designs, such as those with unique tastes and lubricants. Furthermore, they are concentrating on making their goods environmentally friendly and safer to use for customers, such as through the use of environmental friendly components and the responsible use of utilities throughout the production process. For example, Ritex, a German company, has employed EKOenergy-certified power in their sustainable product line "PRO NATURE." As a result, the launch of new goods, the adoption of environmentally friendly production techniques, and mergers and acquisitions strategies are expected to aid manufacturers in their company growth.

Key Industry Development:

October 2020: Durex, a condom brand based in Britain, introduced a new product range, ‘‘Durex invisible condoms’’. This was launched in India as India’s thinnest condom product.

More Information: https://www.fortunebusinessinsights.com/condom-market-104519

About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

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Fortune Business Insights Pvt. Ltd.9th Floor, Icon Tower, Baner –

Mahalunge Road, Baner, Pune-411045,

Maharashtra, India.

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UK: +44 2071 939123

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Email: [email protected]

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Liquid Soap Market Trends, Size, Growth Insight, Share, Competitive Analysis, Regional and global Industry Forecast To 2027

The global liquid soap market size is projected to be worth USD 28.79 billion by the end of 2027 on account of the increasing awareness and serious adoption of health and hygiene protocols. The current pandemic of COVID-19 is also propelling the demand for hygiene maintenance among people.

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this, too, shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. Some industries are struggling, and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are making continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

Fortune Business Insights™ lists out all the liquid soap market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:

The 3M Company (U.S.)

Johnson & Johnson Services, Inc. (U.S.)

Colgate-Palmolive Co.(U.S.)

Reckitt Benckiser Group plc (U.K.)

Lion Corporation (Japan)

Procter & Gamble Co. (U.S.)

Kao Corporation (Japan)

Kimberly-Clark Worldwide, Inc. (U.S.)

Unilever (U.K.)

Henkel AG & Co. KGaA (Germany)

Other vendors

Drivers & Restraints-

Advent of Innovative Soap Dispenser to Bolster Growth

Liquid soaps have emerged as a strong competition to the conventional bathing and laundry bars ever since their launch about a decade ago. The most important feature increasing its sales across the world is its easy-to-squeeze nature that guarantees zero-germ contact with the previous user. This, coupled with the fact that they come in refillable packs and are an easy way to control the spread of bacterial and viral disease. Besides this, the increasing technological advancements in soap packaging and the advent of innovative dispenser units are likely to aid in the expansion of the market in the coming years.

On the contrary, the presence of toxin ingredients such as triclosan and parabens in the soap formula may sometimes have adverse effects on the human skin, thereby challenging the market. Besides this, these products packed in plastic to avoid leakage and the excessive use of plastic increases the carbon footprint of the industries, thereby causing hindrance to the overall market in the coming years. Nevertheless, the prevalence of COVID19 is further propelling the demand for liquid soaps and other sanitary products in all parts of the world, thereby creating lucrative growth opportunities for the market in the long run.

Segment-

Bath & Body Soaps Segment to Dominate Market on Account of Increasing Inclination Towards Good Hygiene Practices

Based on product type, the bath & body soaps segment earned 58.74% liquid soap market share in 2019 on account of the increasing preference for following good hygiene standards and maintaining the cleanliness of the body. Besides this, the advent of various flavored bath and body soaps further propelled its demand in the market.

Regional Analysis-

Asia Pacific Earned Dominant Shares Owing to Increasing Sensitivity Towards Cleanliness

North America holds significant share in global market. This is since the U.S. launched the first liquid soap, the popularity of which later spread to other parts of the world. Therefore, this region has the significant number of consumers. In addition to this, North America holds the record for the highest number of coronavirus patients as per the John Hopkins University report by April 2020. As per the Healthy Handwashing Study 2020 conducted by Bradley Corporation in January 2020, an average American washes hands more than 6 times in a day comprising of 78% of the total American population. Additionally, this study further reveals that 88% of this population wishes to continue following strict hygiene habits even after the pandemic is over.

In 2019, Asia Pacific earned a revenue of USD 6.12 billion and emerged dominant. Asia Pacific market is likely to continue its dominance in the forecast period on account of the presence of the highest population, evolving hotel management industry, and rise in awareness about the importance of hygiene.

Competitive Landscape-

Players Investing Massively on Product Expansion to maintain Foothold in the Market

The nature of this market is highly fragmented owing to the presence of many companies. On the contrary, major players such as Unilever, Colgate, and Henkel are focusing on the expansion of the portfolio to maintain the named of their brand in the top list. Besides this, players are adopting other plans such as new product launches and are massively investing in the same to stay put in the competition.

The Report Discusses the following Questions

What is the competitive landscape?

How will favorable population dynamics impact the liquid soap market?

Which strategies are adopted by players to gain impetus in the market?

What are the current developments in the market?

Some of the Key Industry Developments of the Liquid Soap Market include:

January 2020 – A new dish soap in the form of spray was introduced by the brand of Procter & Gamble called Dawn for cleaning utensils.

October 2018 – A new online channel called ‘drbronners./tmall.hk’ was launched as an expanded store of Dr. Bronner’s Magic Soaps Company in China via the global platform called ‘Alibaba’. This store offers peppermint-scented liquid soap manufactured by the company to its Chinese consumers.

Browse Detailed Summary of Research Report:

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

9th Floor, Icon Tower,

Baner - Mahalunge Road,

Baner, Pune-411045, Maharashtra, India.

Phone:

US: +1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

Email: [email protected]

Fortune Business Insights™

Linkedin | Twitter | Blogs

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Hair Wig Market Trends, Size, Growth Insight, Share, Competitive Analysis, Regional and global Industry Forecast To 2028

The global hair wig market size is expected to gain momentum by reaching USD 3.0 billion by 2028 while exhibiting a CAGR of 4.0% between 2021 to 2028. The increasing trend of using mannequins in fashion outlets is expected to drive the hair wig market growth.

More Info: https://www.fortunebusinessinsights.com/hair-wig-market-106241

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Mattress Market Trends, Size, Growth Insight, Share, Competitive Analysis, Regional and global Industry Forecast To 2028

The worldwide mattress market size hit USD 49.24 billion in 2021. The market value is slated to rise from USD 50.61 billion in 2022 to USD 72.95 billion by 2029, exhibiting a CAGR of 5.36% during the forecast period. The growing global demand for luxury and customized products suggests a significant shift in consumers' perceived notion of mattresses beyond durable goods to an indicator of social status, says Fortune Business Insights™ in its report titled, “Mattress Market, 2022-2029”..

More: https://www.fortunebusinessinsights.com/mattress-market-102108

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Toilet Paper Market Size, In-Depth Qualitative Insights, Explosive Growth Opportunity, Regional Analysis by Fortune Business Insights

The global toilet paper market is set to gain momentum from the rising awareness of deforestation while producing paper pulp. The rising trend of travel and tourism is expected to broaden the hospitality industry worldwide. The demand for toilet paper in restaurants, resorts, and hotels is growing rapidly on account of the increasing hygiene requirements.

More Info: https://www.fortunebusinessinsights.com/toilet-paper-market-104298

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Travel Retail Market Trends, Size, Growth Insight, Share, Competitive Analysis, Regional and global Industry Forecast To 2029

According to Fortune Business Insights, the global travel retail market size is anticipated to hit USD 96.11 billion by 2029 and exhibit a CAGR of 8.1% during the forecast period. The increasing number of international travelers is likely to drive the market’s growth. The strict lockdowns imposed during the pandemic have negatively impacted the market growth. The global air travel ban during the severe waves of the pandemic have affected the market’s growth.

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Perfume Market Trends, Size, Growth Insight, Share, Competitive Analysis, Regional and global Industry Forecast To 2028

According to Fortune Business Insights, the global perfume market size is projected to reach USD 43.2 billion by 2028, exhibiting a CAGR of 5% during the forecast period. Robust demand for beauty products and accessories among consumers is expected to boost market growth. Fortune Business Insights™ provides this information in its report titled "Perfume Market, 2021-2028."

Perfumes are pleasant-smelling solutions made by using oils, fragrances, and other ingredients to create a pleasing aroma. Increasing demand for high-quality beauty and grooming products globally is expected to boost market growth. Several manufacturers globally aim to provide innovative products to consumers to satisfy their demand. For example, Givaudan introduced a creative scent technology named ‘VivaScentz’ in June 2020 to satisfy consumer demand for different scent categories. The demand for long-lasting scents is expected to boost its sales drastically. Further, the incorporation of strong fragrances, oils, and other materials is expected to attract consumer demand. Additionally, rising demand for waterless scent is expected to surge the product demand. These factors are likely to propel market progress.

Fortune Business Insights™ lists out all the perfume market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:

L’Oréal S.A.(Clichy, France)

Unilever Plc (London, U.K.)

Coty Inc. (New York, U.S.)

The Proctor and Gamble Co. (Ohio, U.S.)

The Estee Lauder Companies Inc. (New York, U.S.)

Natura & Co. (Sao Paulo, Brazil)

Avon Products Inc. (New York, U.S.)

Puig SA (Barcelona, Spain)

Revlon Inc. (New York, U.S.)

Chanel Limited (Paris, France)

Shiseido Company Limited (Tokyo, Japan)

Beiersdorf AG (Hamburg, Germany)

Highlights of the Report

The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.

Drivers and Restraints

Announcement of Innovative Solutions to Bolster Market Growth

Manufacturers focus on providing excellent and innovative fragrance solutions to consumers to enhance their experience. The incorporation of strong flavors and oils eliminates odors and boosts the scent's shelf-life. Companies launch different fragrance solutions utilizing artificial intelligence technology that satisfies the fragrance preferences of consumers. For example, SEPHORA, LVMH announced ‘MAISON 21G’ in April 2021. It is an innovative AI-powered solution aimed at satisfying consumer's fragrance preferences. Further, the adoption of online retail is likely to fuel product demand globally. Online retail offers consumers an enormous choice that shall satisfy their demand for aromatic fragrances and boost convenience. These factors are likely to drive the perfume market growth.

However, huge research and development costs and uncertain consumer behavior may hinder market progress.

Segments

Type, Product, Distribution Channel, End-User, and Region are studied for the Market

By type, the market is segmented into extrait de parfum, eau fraiche, eau de toilette, eau de cologne, and eau de perfume. By product, it is bifurcated into premium and mass. Based on the end-user, it is classified into women and men. As per the distribution channel, it is categorized into offline and online. Regionally, it is clubbed into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Regional Insights

Rising Demand for Premium Products to Foster Market Growth in North America

North America is projected to dominate the perfume market share due to rising demand for premium consumer products. The market stood at USD 10.50 billion in 2020. Evolving consumer preferences and rising spending capacity are likely to boost the product demand. In addition, increasing the standard of living in Canada, Mexico, and the U.S. is expected to boost the market growth.

In Asia Pacific, increasing disposable income, young population, rising awareness regarding the benefits of the product is likely to fuel the product demand. Additionally, rising demand for premium brands is expected to boost market progress.

Rеаѕоnѕ to Get thіѕ Rероrt:

A qualitative and quantitative market study based on segmentation that includes both economic and non-economic factors

Data on market value for each section and sub-segment

Indicates the region and market segment that is likely to expand the fastest and dominate the market.

The consumption of the product/service in each region is highlighted, as are the factors affecting the market within each region.

The competitive landscape includes the top players' market rankings, as well as new service/product launches, collaborations, company expansions, and acquisitions made by the companies profiled in the last few years.

Competitive Landscape

Prominent Companies Incorporate Expansion Strategies to Expand their Market Reach

The prominent companies operating in the market devise acquisition strategies to expand their market reach. For example, MINISO CO. LTD set up its fourth new store in India in December 2020. This strategy may enable the companies to boost their reach globally. The adoption of research and development enables companies to utilize effective ingredients and improve their product quality. This strategy enables companies to improve their brand image. Additionally, the adoption of technologically advanced production techniques can boost the companies' product quality, reduce labor costs, improve operational efficiency, and satisfy organizational efficiency. This strategy may enable companies to boost their market position.

Industrial Development

April 2021- Scoots & Co. completed the acquisition of The Garden Fragrance Company for creating novel sales channels for brands, toiletries, and partner's cosmetics.

Frequently Asked Questions (FAQs):

1. What was the value of the global perfume market in 2020?

Answer: Fortune Business Insights says that the global market stood at USD 29.8 billion in 2020.

2. At what CAGR is the market projected to grow in the forecast period (2021-2028)?

Answer: The market is projected to grow at a CAGR of 5.0% in the forecast period (2021-2028).

3. Which is the leading segment under the end-user criterion in the market?

Answer: The women segment under the end-user criterion is expected to lead the market.

4. What are the key factors driving the market?

Answer: Introduction of innovative cosmetic solutions is driving the global market. Additionally, rising consumer preference for online shopping will help the market in its future development.

5. Who are the top players in the market?

Answer: L’Oreal, Unilever, Coty, Procter & Gamble, and Estee Lauder the top players in the market.

COVID-19 Pandemic

Halt on Manufacturing to Impede Market Progress

This market is expected to be negatively affected during the COVID-19 pandemic due to stringent lockdown restrictions imposed by governments. As a result, halt on production and transport has led to the lack of raw materials and supplies. However, lockdown relaxations lead to the adoption of reduced capacities and part-time shifts to help manufacturers recover losses and regain market position. In addition, the rising demand for strong scent and beauty solutions may boost product demand. These factors are likely to boost market growth during the pandemic.

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blog2k01 · 3 years ago

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Condom Market Growth Analysis, Segmentation, Size, Share, Trend, Future Demand and Leading Players Updates by Forecast to 2028

The global condom market size is expected to reach USD 10.97 billion by 2028, exhibiting a CAGR of 9.4% during the forecast period. The growing awareness regarding STDs such as, hepatitis B, Syphilis, trichomoniasis, and chlamydia can fuel demand for condoms, which, in turn, will aid the expansion of the market. A lockdown to thwart the spread of this deadly virus. Such plans have caused disturbances in the production and supply chain. But, with time and resolution, we will be able to combat this stern time and get back to normality

More Information: https://www.fortunebusinessinsights.com/condom-market-104519

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blog2k01 · 3 years ago

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Furniture Market Trends, Size, Growth Insight, Share, Competitive Analysis, Regional and global Industry Forecast To 2028

The global furniture market size was USD 475.4 billion in 2020. The uncertain occurrence of the COVID-19 lockdown restrictions is resulting in the shutting down of upholstery shops worldwide. Hence, upholstery shops are witnessing a decline in sales due to such a restriction. Additionally, to avoid coronavirus infection incidences, people limit themselves to shop furnishing items from these stores. Such factors are posing challenges to the overall industry growth during the pandemic period.

The global pet furniture market size was valued at USD 3.61 billion in 2021. The introduction of high-quality multifunctional and customized pet beds & furniture that fits all sizes of pets is surging the demand for pet furniture. Providing dog and cat furniture products customized according to consumer preferences, such as various colors, designs, and measures that ensure pet comfort, is a crucial factor boosting the sales of furniture products for pets in the market.