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Fragrances registered a very poor performance in 2019, with strong volume decline resulting from considerable price increases in ARS due to the dramatic fall in the strength of the local currency. The fact that both premium fragrances and the ingredients for mass products manufactured in the country are imported meant that the collapse of the currency hit the category hard, with prices rising considerably in 2018 and 2019.
Sets-kits registered the poorest performance in fragrances in 2019. These products primarily target special occasions such as Mother’s Day and Father’s Day but, because of the economic crisis Argentinean consumers increasingly turned to less expensive gift options, replacing sets/kits with products such as apparel.
Natura Argentina extended an already strong lead in fragrances in 2019. The company is the leading player in both the mass women’s and mass men’s fragrances categories, with its Natura brand performing particularly well in mass women’s fragrances in the final year of the review period.
Sales of fragrances are now expected to fall by 4% in 2020 in 2019 constant value terms in light of the impact of COVID-19. This compares with a forecast 3% decline for 2020 in 2019 constant value terms during research conducted at the end of 2019 prior to the spread of the disease.
All fragrances categories are expected to see sales decline in 2020 in 2019 constant value terms due to consumers focusing spending power on essentials and the lack of social contact resulting from restrictions imposed to prevent the spread of COVID-19. Mass fragrances is set to see the impact of COVID-19 mitigated slightly by the prominence of door-to-door sellers in the category, with direct sellers benefiting from competitive pricing and an expanded workforce of people looking to generate income in a challenging economic environment as restrictions are lifted.
The impact of measures to curb the spread of COVID-19 on an already struggling economy is set to undermine consumer purchasing power for much of the forecast period. However, while fragrances is not considered an essential product area, it is expected to recover relatively quickly during the forecast period, returning to 2019 constant value growth by 2022.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Fragrances industry in Argentina with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
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This industry report originates from Passport, our Beauty and Personal Care market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.