Fragrances was the most dynamic area of beauty and personal care in 2021, after seeing one of the heaviest losses in 2020. This growth was triggered in part by the increased demand resulting from people resuming their activities outside the home and therefore once again looking to wear fragrances.
Mass fragrances remains the dominant category in fragrances and it was also the most dynamic category in retail volume terms in 2021. Sales of mass fragrances are driven by direct selling, with the networks of these companies having expanded and which are now more proactive in pushing sales and promoting products, both online and offline.
As people spent most of their time indoors during 2020 and 2021, the need to use fragrances was reduced, giving way to the use of Mists or Splash (registered under deodorants). These products represent important competition for fragrances because they are available under multiple brands (domestic and imported) and through various channels, including retail and direct selling.
Direct selling dominates the distribution of fragrances in Peru. Nevertheless, spurred on by the pandemic, e-commerce is showing strong growth potential.
Traditionally, Peruvian companies Cetco SA and Unique SA have dominated sales of both men’s and women’s fragrances in the country through their Yanbal, Esika, Cyzone and L'Bel brands. There are many consumers who remain loyal to the same brand and variety of fragrances for years, with this helping to ensure some degree of stability within the competitive landscape.
While mass fragrances is projected to see retail volume sales recover to pre-COVID-19 levels by 2023, premium fragrances is not expected to see a full recovery before the end of the forecast period. This bleak outlook for premium fragrances is due to two factors: Firstly, in the short-term sales are likely to suffer from the fact people are still limiting social and work gatherings, thus reducing the incentive to pay more for fragrances.
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Understand the latest market trends and future growth opportunities for the Fragrances industry in Peru 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.
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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 Definitions
This report originates from Passport, our Fragrances research and analysis database.
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