Lucintel’s latest market report analyzed that fine fragrance provides attractive opportunities in the spray perfume, body care, home care, cosmetic, soap and detergent, and incense markets. The fine fragrance market is expected to reach $8.3 billion by 2028 with a CAGR of 6%. In this market, direct sale is the largest segment by distribution channel, whereas spray perfume is largest by application.
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Based on distribution channel, the fine fragrance market is segmented into direct sales, e-commerce, specialty stores, convenience stores, departmental stores, and others. The direct sales segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, because it provides a more personalized and intimate shopping experience to its customers and also enables them to try and experience the fragrance before making a purchase.
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The Fine Fragrance Market is marked by the presence of several big and small players. Some of the prominent players offering fine fragrance include Givaudan, Firmenich SA, International Flavors & Fragrances, Symrise, Takasago International Corporation, ADM, Sensient Technologies Corporatiion, Mane SA, Robertet, T. Hasegawa, and Bell Flavors & Fragrances.
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