In 2021, fragrances registered a rebound from its volume decline of the previous year thanks to the relaxation of pandemic restrictions. In 2020, the country endured one of the longest and strictest lockdown policies in the world, meaning that consumers had little social contact and thus little need to wear fragrances.
Natura Argentina continued to strongly lead in fragrances in 2021 with the company being the leading player in both mass women’s and mass men’s fragrances. This is despite many low- to mid-income consumers stopping use of such products or migrating to less expensive alternatives (such as body sprays) during the pandemic.
Despite social restrictions being lifted and physical stores operating normally again, e-commerce remains a key distribution channel in fragrances in 2021 with its value share now almost double that recorded in 2019 (although some of this is due to the extremely high inflation). Seeing as beauty specialist retailers were most significantly impacted by the closures in 2020, many major retailers sought to move into the digital space to support sales.
Despite fragrances not being considered an essential product category, volume sales are expected to fully recover in 2022, exceeding pre-pandemic levels. As social restrictions have been lifted and are highly likely to remain so, there will be significantly more opportunities for consumers to use fragrances.
Despite borders being open again and consumers having greater access to duty-free shops, the trend towards purchasing premium fragrances in local stores is likely to remain higher than it was pre-pandemic. During the pandemic, the price difference between domestic retailers and duty-free shops shrank, meaning that there is less incentive for consumers to buy in airports or abroad.
Declining purchasing power will enable small pack sizes to gain ground in the coming years. Usually, Argentinean consumers prefer large pack sizes as they are more economical overall.
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Understand the latest market trends and future growth opportunities for the Fragrances industry in Argentina with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
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This is the aggregation of men's, women's and unisex mass and premium fragrances as well as fragrances sets/kits. The distinction between mass market and premium is normally price and label/positioning (mass fragrances rarely carry a designer label) and distribution. Also includes hair fragrances with a primary function of making hair smell good and not to be confused with hair oil and other styling/conditioning products with hair fragrances, whose primary function is to either condition or style over fragrance.See All of Our Definitions
This report originates from Passport, our Fragrances research and analysis database.
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