After seeing solid retail volume growth and double-digit current value growth for most of the review period, in 2020 fragrances turned to significant decline by both measures. In fact, fragrances was one of the beauty and personal care categories most negatively impacted by the arrival of the COVID-19 pandemic in the country in 2020.
The premium segment took a bigger hit than the mass segment in fragrances in 2020, for two main reasons. First, consumers who were looking to trade up from mass/masstige to premium brands did not do so in 2020 due to uncertainty about their incomes amidst the pandemic.
Baccarose Perfumes & Beauty Products maintained its lead in overall fragrances in 2020, mainly due to the wide range of brands it promotes in the country, with Versace, Hugo Boss and Armani accounting for the highest sales in this year. However, with most of its brands having a presence in premium fragrances, and only a few in the mass segment, the company suffered from the more dynamic decline of premium fragrances in 2020, seeing a notable fall in its value share.
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Understand the latest market trends and future growth opportunities for the Fragrances industry in India with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Fragrances research and analysis database.
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