Analysis of the perfume industry in 2022

Perfumes regulate the atmosphere, smell and have a role in restoring the mood, and nowadays both young and old people choose their favourite perfumes.

The global market size of perfume has been gradually growing, with Korean and American origin perfumes being the most popular, and some people have also gone for some niche perfumes.

China's perfume industry there is still the possibility of investment, the market can grow a lot of space, the following is the analysis of the perfume industry in 2022.

Global perfume industry market size is a stable upward trend, 2019 has reached 347.3 billion yuan. 2020, the global perfume consumption market size grew rapidly to 390.6 billion yuan, a growth rate of 12.5%.

2021 due to the impact of the epidemic global economic growth rate has declined, still exceeded 400 billion yuan scale.

In the global consumer market, China's perfume consumption is less, 2017-2021, China's perfume market size grew year by year, the growth rate remained at more than 20%.

Perfume industry analysis points out that in 2021, China's perfume market size of 9.92 billion yuan, an increase of 24%, is expected to exceed 10 billion in 2022, the size of the growth to 12.57 billion yuan or so.

From the point of view of the source of imports, China's more than 60% of imported perfume from France, 2021 from France imports of perfume amounted to $ 338 million, accounting for 60.44%. Second in line is Italy, imports accounted for 15.04%.

From the distribution of China's perfume exports, China's perfume exporting countries are mainly the United States, the United Kingdom and the Netherlands, China's exports of perfume to the United States in 2021 of US$37 million, accounting for 20.49%, exports of perfume to the United Kingdom of US$19 million, accounting for 10.63%, exports of perfume to the Netherlands of US$18 million, accounting for 10.18%, other export regions accounted for 58.7%.

Currently, consumers prefer floral/citrus/woody/fruity fragrances, with over 30% of respondents preferring each of these fragrances.

Among them, floral notes ranked first, with 48.3% of consumers preferring them; citrus notes ranked second, with 39.8% of consumers preferring them; woody notes ranked third, with 32.8% of consumers preferring them; fruity notes ranked fourth, with 30.4% of consumers preferring them.

Although, there are greater investment opportunities in the perfume industry, but we cannot ignore the existence of investment risks in any industry. Perfume industry analysis points out that the perfume industry in China is still in its infancy, domestic consumers have not yet fully formed perfume consumption habits.

In addition, the industry is subject to the risk of policy fluctuations, the risk of technological backwardness in the industry and the risk of macroeconomic fluctuations in the industry.

Affected by the national macro-control policy, the cost of raw materials, packaging, transportation costs and other necessary expenses consumed by perfume has been rising, to a certain extent, the gross profit of products and the overall profit level of perfume manufacturers.

Most of the enterprises paid too much attention to marketing and concept renovation, neglected product development, production equipment and talent training, and encountered the invasion of international big brands.

The growth of traditional consumer regions such as Europe, the US and Japan is weak, and more perfume giants are turning to China, intensifying competition in the domestic perfume market; in addition, the domestic cost advantage is also gradually disappearing.