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Summary of our market study
- Sephora
- Nocibé
- Marionnaud
Integral stores
Pharmacies and parapharmacies
Airport travel retail stores
Large-scale distribution
France boasts the world's largest number of perfume and cosmetics brands
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Summary and extracts
1 Market overview
1.1 Definition and scope of the study
Perfume is a cosmetic product composed of essential oils and alcohol, which can take various forms, such as eaux de parfum and eaux de toilettes, depending on the alcohol concentration and manufacturing process. Essential oils themselves, however, are excluded from the scope of this study.
The perfume market covers all toiletries intended to be applied to a person in order to voluntarily impregnate him or her with a pleasant scent, and therefore includes eaux de toilette, eaux de parfum and eaux de Cologne. Perfumeries are the places where these products are distributed, and can take many different forms, from supermarkets to perfumers' workshops.
The global perfume market is worth around $50 billion, and has been rising steadily for several years, a trend that is set to continue in the future at a CAGR of 5.51% per annum until 2030. This dynamic is driven by the positive performance of the luxury goods sector, particularly French companies such as Chanel, Dior and L'Oréal, and by the growing number of fragrance references, offering products adapted to all markets and consumers.
In 2023, perfume sales in France rose by 7%. The perfume market was driven by both a volume effect, driven by the recovery in consumption following the covid crisis, and a price effect, with inflation-driven price rises in France.
In an environment characterized by persistent inflation, players who have not succeeded in fully passing on the rise in their production costs to the final price must consider adjusting their prices if they want to maintain or even increase their margins. This need is all the more pressing in view of persistent supply chain constraints . The publication of LVMH's disappointing H1 2023 results highlighted the challenges faced by the luxury goods sector in general, due to reduced Chinese demand. The industry, which has enjoyed very strong growth in recent years, faces a number of issues in 2023.
1.2 A fast-growing global market still marked by specific geographical features
The global perfume market is booming. As we can see from the graph below, this market will be worth $** billion by ****. This healthy market is set to continue. According to projections by The Beauty Analyst, the value of the market should reach nearly ** billion euros by ****.
The average annual growth rate ...
1.3 The French domestic market, leader in a slight slowdown
In ****, fragrance sales were up *% on ****, driven by both higher sales volumes and a favorable price effect. Indeed, the sector benefited from an *% year-on-year rise in sales volumes, as well asa *% rise in the consumer price index for perfumes and eaux de toilette, while make-up and skincare products posted a *% increase ...
1.4 Foreign trade: A growing surplus balance
France has a very large trade surplus in the perfume sector, and more broadly in the cosmetics sector. As we can see below, French exports of perfumes and perfumery products have been growing steadily since ****, far outstripping the level of imports for the same products.
European production of fragrances and perfumery ...
1.5 The impact of the COVID-19 crisis
Perfumes and color cosmetics have seen a sharp decline in ****, but overall demand for beauty products remains strong, as consumers turn instead to the skincare, hair care and personal care categories in ****, all of which are less disrupted by new Covid-** routines and lend themselves well to online discovery and purchase.gories ...
2 Demand analysis
2.1 The French and perfume
Beauty and skincare products and fragrances account for the bulk of sales, respectively **% and **% of the sector's total. [***]
Breakdown of cosmetics sales by category France, ****, in Source: ****
On average, in ****, French women spend ** minutes cleansing and moisturizing their face, ** minutes applying make-up in the morning and ** minutes removing make-up in the ...
2.2 Rise of the "top-of-the-range" choice
The beauty market is undergoing a process of premiumization. Indeed, according to Journalduluxe, by ****, while the mainstream beauty segment is expected to grow by *% a year, the prestige segment will grow by up to *%, driven by rising household spending on high-end products. Index of retail perfume sales valued at *** euros or ...
2.3 The rise of organic and natural products
The trend is also towards more responsible consumption, driven both by a growing interest in the environment, and by the products consumers apply to their bodies. As a result, "Clean Beauty" is on the rise: a survey conducted by Yougov in **** revealed that **% of French people prefer cosmetics brands that are ...
2.4 The impact of tourism on perfume sales in France
The impact of tourism on perfume sales in France is of course concentrated in Paris, with sales in airports and department stores on Boulevard Haussman in particular, a destination in its own right in the tours offered to tourists.
The year **** saw a sharp decline in perfume sales in France. Looking ...
2.5 Seasonal demand
As perfume is one of the most popular gifts during the festive season, demand in the sector is highly seasonal. According to TF* Info, cosmetics chains generate up to **% of their sales between November and December, thanks solely to perfume sales.Le Monde adds that **% of perfume sales are generated in ...
2.6 France's favorite retailers
In France, the specialty retail market is divided between three major players: Sephora, Nocibé and Marionnaud. Sephora tops the list of France's favorite specialty retailers, with **% of those surveyed saying they like the brand. Nocibé follows with **%, then Marionnaud with **%.
French people's favorite brands France, March ****, in OpinionWay for MPF Conseil ...
3 Market structure
3.1 Value chain overview
We propose a summary of the stages in the value chain:
3.2 Growing perfume plants
Perfume flowers belong to a category of plants known as PPAM (***). The Grasse region is one of France's main perfume-producing areas, with distinctive flowers such as Centifolia Rose, Grandifolium Jasmine and Tuberose. [***]
PPAM cultivation in France covered more than **,*** hectares in ****, **% more than in ****. Most of this area was taken up ...
3.3 The perfume-making process
Once the raw materials have been produced, the perfume is then manufactured in * stages(***):
The perfumer blends different essences (***) to create what is known as a fragrance base; This fragrance base is diluted in alcohol, according to the concentration chosen for the type of article (***). Distilled water is also added; This ...
3.4 Distribution largely dominated by perfumeries and department stores
Fragrance distribution in France France, ****, as % of total Source: ****
By way of comparison, in **** and for the cosmetics sector in general, supermarkets and hypermarkets represented the most important sales channel. The perfume sector therefore presents a particular bias towards specialist stores, justified in particular by the expertise required to advise on ...
4 Offer analysis
4.1 France's favorite brands
dior is France's favorite fragrance brand, followed by Chanel and Yves Saint-Laurent
French people's favorite brand France, ****, % of total Source: ****
According to [***] in ****, the * best-selling women's fragrances would be,
La vie est belle- Lancome J'adore-Dior Numéro * -Chanel Libre-Yves Saint Laurent Angel-Mugler
The * best-selling men's fragrances in **** in France according to[***] ...
4.2 The different types of perfumery items
There are different types of articles and different names depending on the alcohol concentration obtained during manufacture(***):
Parfum: alcohol concentration between **% and **%. Eau de parfum: concentration between **% and **%. Eau de toilette: concentration < **%. Eau de Cologne: concentration < *%.
This alcohol concentration determines the quality of the finished product, and consequently its price, but ...
4.3 Fragrance composition
A fragrance can be broken down and analyzed according to the so-called "olfactory pyramid", comprising three levels. [***]
Top notes: these are the scents you smell immediately after spraying the perfume, but also the ones that fade the fastest. These are often the freshest, greenest notes, such as bergamot or citrus. Heart ...
4.4 Rising perfume prices
Perfume prices have been rising steadily for several years. Consumer price index data provided byINSEE for perfumes and eaux de toilette show that consumer prices rose by **% between **** and ****. Between **** and ****, with inflation and rising raw material prices, consumer prices increased by *%.
Consumer price index for perfumes and toilet waters France, ...
4.5 Alternative perfumery in response to market standardization
For several years now, the trend in the French perfume market has been to accumulate launches. Indeed, brands have tended to rely on their best-selling fragrances, endlessly adapting an existing fragrance with minimal variations, in order tomaximize the success of these products, which have become veritable cash cows. For several years ...
5 Regulations
5.1 Cosmetics Regulation n°1223/2009
Regulation n°****/****, known as the Cosmetics Regulation, is one of the main European regulations governing the cosmetics market.
Designation of a responsible person
For each product placed on the market, companies must designate a Responsible Person (***). The Responsible Person may be the manufacturer, the importer if the manufacturer is outside the ...
5.2 The IFRA code
IFRA is the International Fragrance Association, founded in ****. It has developed a Code of Regulation for fragrance manufacturing, which applies to all its members, representing around **% of the global fragrance industry in terms of production volume. This text includes rules of use for over *** ingredients, including prohibitions on use and dosage ...
6 Positioning the players
6. Player segmentation
The following segmentation of players is used:
- Firmenich
- Givaudan
- CENTRI DI BELLEZZA YVES ROCHER ITALIA
- L'Occitane Groupe
- Sephora
- Marionnaud France
- Chanel
- Jo Malone
- L'artisan Parfumeur (Puig Groupe)
- LVMH Parfums et Cosmétiques (Parfum Christian Dior)
- Coty (JAB Holdind)
- Interparfums
- Groupe Rocher (Yves Rocher)
- Shiseido
- Adopt Parfums
- Pochet Groupe
- Verescense
- Berdoues
- Dolce & Gabbana
- Yves Saint Laurent Parfums (Groupe L'Oréal)
- L'Oréal Groupe
- Artiris Compoz Parfum
- Cofatech
- Vabel Groupe - Sarbec Cosmetics
- Inessens
- Les Eaux Primordiales
- Pierre Guillaume Parfumeur
- Fragonard Parfumerie
- Anjac Health and Beauty
- Sozio (Proxis Développement groupe)
- Douglas
- Nicolosi Créations - Laboratoire Cosmétique Provençal
- Techniflor API Groupe
- Lorience Groupe
List of charts presented in this market study
- The global perfume market
- The structure of the global cosmetics market
- The French market for the retail sale of perfumes and beauty products in specialized stores
- Breakdown of cosmetics sales by category
- Impact of skincare and beauty products on self-esteem
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Latest news
Lorience Groupe acquires facial care start-up Biotulin - 10/09/2024
- Biotulin sales for current year: 3 million euros
- - Biotulin revenues expected to triple in the next 18 months
- - Distribution of Biotulin offer: 80% via digital channels, 20% in specialized German perfumery networks
- - Lorience Groupe sales in 2023: 15 million euros
- - Lorience Groupe sales growth rate in 2023: 30%
- - Share of digital in Lorience Groupe's business: 50%
- - International contribution to Lorience Groupe sales: 50%
Patronage: TechnicoFlor wants to make its action to protect the planet visible - 06/09/2024
- - Year TechnicoFlor was founded: 1981
- - Head office: Levallois-Perret, Hauts-de-Seine, France
- - Founder and Chairman: François-Patrick Sabater
- - Business growth: +37% in 2022 and +17% in 2023
- - Sales: just under forty million euros
Sephora downsizes in China after leaving South Korea - 22/08/2024
- - Sephora is shedding "just under 3%" of its workforce in China, or around 100 jobs.
- - Sephora has around 400 stores in Asia, including 300 in China.
- - Founded in 1968 and acquired by LVMH in 1997, Sephora set up in Beijing in 2005.
- - Sephora is the number one retailer of high-end beauty products in the United States.
- - The company is targeting sales of "20 billion euros".
- - Sephora's operations in China would have generated combined losses over 2022 and 2023 of $46 million, according to annual reports from Shanghai Jahwa United Co. Ltd. which holds 19% of its business on the mainland.
- - Sephora recently reduced its presence in South Korea and withdrew from Taiwan.
- - The brand is a significant contributor to LVMH sales, second only to Louis Vuitton (over 20 billion in sales).
- - Sephora has estimated sales of over $12 billion, according to Bernstein.
nterparfums takes off on the stock market with Lacoste and Pierre Niney - 24/07/2024
- Coach and Jimmy Choo fragrance licenses account for a quarter of Interparfums sales
- - Interparfums recorded sales of almost 37 million euros with the launch of Lacoste fragrances this year, exceeding expectations.
- - Sales of Montblanc fragrances fell by 4% over the half-year to 103 million euros, while sales of Lanvin fragrances dropped by 23% to 20.9 million euros.
Dolce & Gabbana goes public to realize its dreams of greatness - 24/07/2024
- - Estimated value of Dolce & Gabbana: around 6 billion euros.
- - Dolce & Gabbana sales for fiscal 2023-2024: €1.8 billion.
- - Annual sales growth: 17% year-on-year.
- - Share of sales in China before the "bad buzz" of 2018: over 20% of sales.
- - Decline in the activities of certain luxury players in China: up to 30%.
- - Share of Dolce & Gabbana sales in the United States and Canada: close to 30% of its business.
- - Number of Dolce & Gabbana stores in the United States: 72, with 12 new openings planned.
- - Sales target for Dolce & Gabbana's beauty division, reinternalised in 2022: from 1.5 to 3 billion euros within four years.
- - Number of people hired to develop the beauty division: nearly 300.
After Irène Gosset, Xavier Gagey becomes Chairman of the Pochet Group's Management Board - 21/06/2024
- - The company operates in the glass and plastics sectors.
- - It employs over 3,000 people.
- - Its operations are spread over three continents.
- - The company was founded in 1623
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