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A large number of consumers tightening their belts resulted in slighter lower growth rates for fragrances in 2019. Some shoppers regard fragrances as a non-essential item, with these products some of the first to be cut when personal budgets are squeezed.
Manufacturers were innovative in their attempts to attract consumer attention in 2019. Customisation was one technique used to drive sales, including by offering a hand engraving service on fragrance bottles and personalised fragrances.
Thais seeking new fragrances were well served in 2019 with a number of new launches. Charisma by Oriental Princess - Charisma Eau De Toilette was launched by Oriental Princess under its The Art of Fragrance Layering series.
Sales of fragrances are now expected to decline by 8% in 2020 in 2019 constant value terms in light of the impact of COVID-19. This compares to an expected 5% rise forecast for 2020 during research conducted at the end of 2019 before the spread of COVID-19.
Mass women’s fragrances was the most popular product in fragrances and also recorded the strongest constant 2019 value growth in 2019. Although these products tend to be more expensive than men’s mass fragrances, they are significantly less expensive than premium varieties, making them affordable for the majority of Thai women.
Although fragrances is expected to return to constant 2019 value growth in 2021, which will likely accelerate over the course of the forecast period, growth rates are set to be low and are unlikely to reach the levels anticipated in our research conducted at the end of 2019 before the spread of COVID-19. It will doubtless take some time for confidence to return in terms of social mixing, with Thais likely to avoid large gatherings or social occasions for some time, even after the COVID-19 epidemic subsides.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Fragrances industry in Thailand 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 Thailand, 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.