Executive Summary

Jun 2019
PROSPECTS
Premium brands remain prominent among the leading names in fragrances

Premium brands continue to dominate sales of fragrances, the only category in beauty and personal care in Latvia in which sales are not heavily dominated by mas brands. The main reason for this is that fragrances are seen as inherently luxurious and indulgent products and it is also common that people only use these products for special occasions.

Increasing competition between the retailers of fragrances means lower unit prices

Beauty specialist retailers and department stores continue to dominate sales of fragrances in Latvia and this is associated with the prestige and cachet that high-end retailers in these channels carry, which lends itself to the purchase of a premium fragrance brand. However, these channels are facing competition from mass merchandisers, direct selling and, increasingly, internet retailing, all of which offer much better value for money on purchases of fragrances.

Premium brands to continue leading the category

With premium brands set to benefit from the ongoing stability and growth in the Latvian economy and higher consumer spending on both fragrances and premium beauty and personal care brands, the dominant position of premium brands can be expected to improve over the forecast period. Mass fragrance brands increasingly cater to very low-income people and teenagers and young adults, consumers who are less sophisticated in their tastes and far less likely to be able to afford premium fragrances brands on a regular basis.

COMPETITIVE LANDSCAPE
Premium brands lead the way in terms of marketing promotions

With the cutting edge of competition in fragrance involving premium brands, advertising is common in the category. This includes both media advertising campaigns, price promotions and in-store activities and these are most commonly applied to new product launches.

Consumer preference for well-known premium brands present barriers to entry

Consumers tend to prefer well-known and prestigious brands when it comes to fragrances and this presents something of an obstacle for newcomers, especially those that seek to make their mark in the premium segment. However, it is not uncommon for new brands to be seen in the mass segment as branding and prestige are much less important factors in mass fragrances.

No major changes expected in the competitive environment in fragrances

The forecast period is likely to see a continuation of the major trends that defined the category during the review period. These include the further shift towards premium products, the increasing interest in niche brands that offer genuine points of difference and scents that are unique and intriguing, the shift towards larger pack sizes that offer better value for money through lower unit prices, the constant appearance of new products in an increasingly crowded brand environment of current trends, higher interest in products with higher concentrations of perfume and the shift towards internet retailing as a source of fragrances, a trend which is likely to hit direct selling the hardest.

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Fragrances in Latvia

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Overview

Discover the latest market trends and uncover sources of future market growth for the Fragrances industry in Latvia 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.

If you're in the Fragrances industry in Latvia, our research will save you time and money while empowering you to make informed, profitable decisions.

The Fragrances in Latvia market research report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volumes and values, company and brand market shares
  • Five year forecasts of market trends and market growth
  • Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

  • What is the market size of Fragrances in Latvia?
  • What are the major brands in Latvia?
  • What pricing movements are seen across premium and mass fragrances?
  • What are the key product development trends?
  • How are sales of unisex fragrances performing?

Why buy this report?

  • 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

This industry report originates from Passport, our Beauty and Personal Care market research database.

Fragrances in Latvia - Category analysis

HEADLINES

PROSPECTS

Premium brands remain prominent among the leading names in fragrances
Increasing competition between the retailers of fragrances means lower unit prices
Premium brands to continue leading the category

COMPETITIVE LANDSCAPE

Premium brands lead the way in terms of marketing promotions
Consumer preference for well-known premium brands present barriers to entry
No major changes expected in the competitive environment in fragrances

CATEGORY DATA

Table 1 Sales of Fragrances by Category: Value 2013-2018
Table 2 Sales of Fragrances by Category: % Value Growth 2013-2018
Table 3 NBO Company Shares of Fragrances: % Value 2014-2018
Table 4 LBN Brand Shares of Fragrances: % Value 2015-2018
Table 5 LBN Brand Shares of Premium Men's Fragrances: % Value 2015-2018
Table 6 LBN Brand Shares of Premium Women's Fragrances: % Value 2015-2018
Table 7 Forecast Sales of Fragrances by Category: Value 2018-2023
Table 8 Forecast Sales of Fragrances by Category: % Value Growth 2018-2023

Beauty and Personal Care in Latvia - Industry Overview

EXECUTIVE SUMMARY

Improving economy, rising income levels and freer spending all support sales growth
Sales of natural and organic products continue to gather pace
Major multinationals remain in the lead despite the increasingly stiff challenge from emerging local players
New product development in 2018 focuses on natural products offered by local players
Few major changes expected over the forecast period, with sales set to continue rising slowly but steadily

MARKET DATA

Table 9 Sales of Beauty and Personal Care by Category: Value 2013-2018
Table 10 Sales of Beauty and Personal Care by Category: % Value Growth 2013-2018
Table 11 GBO Company Shares of Beauty and Personal Care: % Value 2014-2018
Table 12 NBO Company Shares of Beauty and Personal Care: % Value 2014-2018
Table 13 LBN Brand Shares of Beauty and Personal Care: % Value 2015-2018
Table 14 Penetration of Private Label in Beauty and Personal Care by Category: % Value 2013-2018
Table 15 Distribution of Beauty and Personal Care by Format: % Value 2013-2018
Table 16 Distribution of Beauty and Personal Care by Format and Category: % Value 2018
Table 17 Forecast Sales of Beauty and Personal Care by Category: Value 2018-2023
Table 18 Forecast Sales of Beauty and Personal Care by Category: % Value Growth 2018-2023

SOURCES

Summary 1 Research Sources