Fragrance sales have been on the rise of late, especially in Prestige. Now a recent report from market research analyst Technavio pinpoints the top five leading brand owners revealed in their global fragrances and perfumes market report. The report also lists 10 other fragrance and perfume vendors that are expected to impact the market during the forecast period 2015 to 2019.
 
Technavio says the highly competitive global fragrances and perfumes market is characterized by high product differentiation, high price competition, high brand loyalty, and easy availability of products. Specialist retailers face challenges from retail giants that operate large stores like hypermarkets and supermarkets because they enjoy economies of scale and offer products at lower prices than specialist retailers.
 
Brijesh Kumar Choubey, a lead consumer services and personal care analyst from Technavio, says, “Some of the major drivers are the rise in demand from emerging markets like APAC, Latin America, and Eastern Europe and the rise in online sales of fragrances and perfumes. Many international and national vendors are selling perfumes and fragrances through e-retailing, which helps in promoting the brands as well as increasing the sales.”
 
According to the Technavio report, the top five fragrances and perfumes market vendors are: Bvlgari Parfums, Chanel, Coty, Estée Lauder and Gucci.