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Fragrances continued to record a stable performance in Malaysia in 2019, a trend experienced by both premium and mass segments. However, the latter continued to record stronger volume growth than premium across men’s and women’s fragrances, strengthening the overall dominant volume share held by mass fragrances due to its more affordable price points, particularly for younger consumers who are likely to opt for cheaper options due to budget constraints.
Although holding lower volume share, the higher average unit prices of premium fragrances supports the marginally higher value share overall. Premium fragrances from luxury fashion houses tend to target local brand-conscious consumers who are already buyers of luxury ranges, such as handbags from Louis Vuitton, Dior, and Gucci.
Fragrances remained a highly fragmented competitive landscape in 2019, led by Wipro Unza (M) Sdn Bhd due to its leadership of mass fragrances, a category that continued to gain ground from the premium segment. The player offers a portfolio encompassing both men’s and women’s fragrances including Dashing, Romano, and Enchanteur which offer an entry-point to young consumers who want to try trading up from deodorant sprays due to the greater affordability that these products offer.
Value sales of fragrances are now expected to stagnate in 2020 at constant 2019 prices in light of the impact of COVID-19. This compares to an expected 4% rise forecast for 2020 during research conducted at the end of 2019 before the spread of COVID-19.
All areas of fragrances are predicted to record weaker performances in 2020 in response to COVID-19, due to strict lockdown measures which offer fewer occasions to wear fragrances due to social distancing, working from home and a lack of gifting opportunities. The latter trend in particular is expected to lead to strong declining demand for premium fragrance sets/kits, while mass fragrance sets/kits are set to record a marginal improvement in demand following waning interest in this price segment; consumers may well be tempted to take advantage of sets that are being offered on promotion online during the pandemic and see it as an opportunity to save money either for themselves or as a gift for a later occasion.
Normalisation of value sales at constant 2019 prices is set to return from 2021. However, while premium men’s fragrances is unlikely to recover over the course of the forecast, premium women’s fragrances is set to gain momentum to record stronger demand compared to the review period.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Fragrances industry in Malaysia 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 Malaysia, our research will save you time and money while empowering you to make informed, profitable decisions.
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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.