While fragrances recorded a strong performance in 2021, it was only a limited recovery as COVID-19 restrictions were still in place at times over the course of the year. COVID-19 had a strong negative effect on sales of fragrances in Latvia in 2020.
Online shopping, already a major distribution channel for fragrances in Latvia, remained popular during the pandemic as social distancing and limitations on the operations of non-essential and non-food retailers continued to be seen during 2021. Companies launching direct to consumer sales via online shops in 2020 and earlier benefited from the growing sales volumes generated through their online stores.
In what is a highly fragmented competitive landscape, players offering premium brands continue to occupy the leading company positions in retail value share terms. The leading companies, Coty, L’Oréal Baltic and LVMH Moët Hennessy Louis Vuitton, continue to derive some benefit from balanced portfolios, including highly-recognised premium brands like Hugo Boss, Calvin Klein (Coty), Giorgio Armani, Diesel (L’Oréal Baltic) and Christian Dior (LVMH Moët Hennessy Louis Vuitton).
Although the recovery in sales of fragrances was only a partial one in 2021, given the hoped-for return to normality in the post-pandemic period, sales are expected to return to pre-COVID-19 levels in the early part of the forecast period. However, growth rates will then slow over the course of the forecast period.
Fragrances has long accounted for the highest retail value share through e-commerce in beauty and personal care in Latvia. Thus, the restrictions imposed during the pandemic only served to further accelerate the shift to e-commerce for fragrances.
While all categories are expected to record healthy current value CAGRs during the forecast period, growth in volume and real value (constant 2021 prices) terms will be less dynamic. Ongoing population decline, not least due to the emigration trend among young adults, means that many purchases will be replacements rather than ones by new consumers.
Delivery:
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
Understand the latest market trends and future growth opportunities for the Fragrances industry in Latvia 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.
If you're in the Fragrances industry in Latvia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Fragrances
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 DefinitionsThis report originates from Passport, our Fragrances research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Home Page