Fragrances in India

Fragrances in India
Euromonitor International
July 2023
FRAGRANCES IN INDIA Passport i
LIST OF CONTENTS AND TABLES

KEY DATA FINDINGS.................................................................................................................. 1
2022 DEVELOPMENTS ............................................................................................................... 1
Conducive External Factors Drive Growth In Fragrances In 2022 ............................................ 1
Focus On Affordable Packs To Attract Increased Consumer Demand For Fragrances ............ 1
Competition Within Premium Fragrances Intensifies With Entry Of New International Brands
And Extensions From Existing Mass Fragrances Brands ......................................................... 2
PROSPECTS AND OPPORTUNITIES......................................................................................... 2
Expansion Of Retail Offline Channels, Coupled With More Campaigns To Educate
Consumers, Key To Increasing Penetration Of Fragrances...................................................... 2
Increasing Employed Population And Rising Aspirations Set To Push Demand For Premium
Fragrances................................................................................................................................ 2
CATEGORY DATA ....................................................................................................................... 3
Table 1 Sales of Fragrances by Category: Value 2017-2022 .................................... 3
Table 2 Sales of Fragrances by Category: % Value Growth 2017-2022 ................... 3
Table 3 NBO Company Shares of Fragrances: % Value 2018-2022 ........................ 4
Table 4 LBN Brand Shares of Fragrances: % Value 2019-2022 ............................... 4
Table 5 LBN Brand Shares of Premium Men's Fragrances: % Value 2019-
2022 ............................................................................................................. 5
Table 6 LBN Brand Shares of Premium Women's Fragrances: % Value 2019-
2022 ............................................................................................................. 6
Table 7 Forecast Sales of Fragrances by Category: Value 2022-2027 ..................... 7
Table 8 Forecast Sales of Fragrances by Category: % Value Growth 2022-
2027 ............................................................................................................. 8
© Euromonitor International
FRAGRANCES IN INDIA Passport 1
FRAGRANCES IN INDIA
KEY DATA FINDINGS
▪ Retail value sales grow by 15% in current terms in 2022 to INR30.8 billion
▪ Premium fragrances is the best performing category in 2022, with retail value sales increasing
by 16% in current terms to INR12.6 billion
▪ Baccarose Perfumes & Beauty Products Pvt Ltd is the leading player in 2022, with a retail
value share of 22%
▪ Retail sales are set to rise at a current value CAGR of 13% (2022 constant value CAGR of
8%) over the forecast period to INR56.5 billion
2022 DEVELOPMENTS
Conducive External Factors Drive Growth In Fragrances In 2022

In 2022, fragrances in India witnessed healthy double-digit current value growth on the back
of favourable external factors, such as the full return of social gatherings, the surge in demand
for domestic travel, and the return of most offices and schools to mainly offline mode. Social
events such as weddings, office meetings, conferences, and others returned to normalcy after
the severity of the pandemic dwindled, with low instances of severe COVID-19 cases during the
third wave in early 2022. This led to an increase in usage occasions for fragrances, driving
overall sales of fragrances close to the pre-pandemic level in value terms in 2022.
Furthermore, because of the pandemic, more consumers became conscious of their personal
grooming in 2022, which further increased the significance of fragrances in their beauty and
personal care routine. To tap into this opportunity, in 2022 direct-to-consumer (D2C) brand Just
Herbs forayed into the fragrances category with its range of pure fragrances, claimed to be
made with grain-derived alcohol and skin-loving essential oils. Meanwhile, certain other
fragrances brands, such as Upsilon and The Man Company, focused on leveraging social media
campaigns with influencers to drive digital engagement and attract consumer trials.
Focus On Affordable Packs To Attract Increased Consumer Demand For

Fragrances
In 2022, some players within fragrances focused on providing fragrances in economical SKUs
to attract demand from consumers, who remain on the lookout for economical price points.
Through such smaller and more accessible packs in terms of pricing, fragrances brands were
able to tap into a much wider consumer base across metro and tier-2 cities and beyond in India.
For instance, fragrance brand Bella Vita launched an offering that provided trial packs for
several different fragrances in small SKUs at an economical prices, helping to drive consumer
trials. Similarly, the PHY brand launched fragrances with 5ml capacity priced at around INR75 to
make its products accessible for both urban and rural consumers. Moreover, through such small
packs, fragrance brands aim to develop long-term consumer demand for their offerings by
aligning with the expectations of consumers. Furthermore, the priority remains to drive the habit
of more regular usage of fragrances, away from occasional specific usage, in a bid to fuel both
volume and value growth of fragrances in India.
Competition Within Premium Fragrances Intensifies With Entry Of New

International Brands And Extensions From Existing Mass Fragrances
Brands
During 2022, a few new companies forayed into premium fragrances in India. This resulted in
expansion of the product range available for consumers, and led to increased competition. Due
to rising per capita gross incomes and the burgeoning middle-class, the appetite for premium
fragrances witnessed an upswing in India. In a bid to benefit from this opportunity, a significant
brand within mass fragrances, Skinn, entered the premium segment through the launch of Skinn
Nox in two variants, namely Homme and Femme, in early 2022. The Skinn brand, owned by
Titan Co Ltd, further continued its extension into premium fragrances through the launch of
another brand, Noura, targeting the female consumer base.
Similarly, in 2022, the leading player in premium fragrances in India, Baccarose Perfumes &
Beauty Products Pvt Ltd, launched the Ruby Rush premium fragrance brand by celebrity Paris
Hilton. Furthermore, Baccarose partnered with Indian actor Hrithik Roshan to co-create a
premium fragrance line in late 2022. With more players, the competition for share of shelf across
both offline and online stores is set to increase, giving more power to retailers, along with
providing a wider range of products for end users.
PROSPECTS AND OPPORTUNITIES
Expansion Of Retail Offline Channels, Coupled With More Campaigns

To Educate Consumers, Key To Increasing Penetration Of Fragrances
The majority of Indian consumers prefer to purchase fragrances from offline stores, due to the
benefit of physical touch and smell. With consumers preferring to walk into a store and try out
various samples of fragrances before making the final purchasing decision, the expansion of
retail offline stores could hold the key to increasing the penetration of fragrances in the coming
years. In 2022, with nearly 90% of sales of fragrances in India coming from retail offline
channels, brands leveraging such channels are set to benefit in the long run. The expansion of
offline stores benefits sales by increasing the availability of fragrances to a wider consumer
base. Leading premium fragrances distributor Baccarose Perfumes & Beauty Products plans to
open about 100 offline stores by the end of 2023. Moreover, through increased shelf space
within such offline retail stores, companies will be able to increase the visibility of fragrances in
tier-2 cities and beyond in India, which could help attract an increased level of consumer trials
from such cities in the forecast period.
In addition, a greater focus on communication campaigns to drive consumer knowledge of the
different types of fragrances and their subsequent value proposition could provide more
exposure to fragrances offerings amongst both urban and rural households. This is expected to
contribute to healthy retail volume and current value growth for fragrances in the coming years.
Increasing Employed Population And Rising Aspirations Set To Push

Demand For Premium Fragrances
Premium fragrances is set to experience the strongest retail volume and current value growth
over the forecast period, because of the steady rise in the employed population. According to
Euromonitor’s Economies and Consumers data, the employed population in India will reach
close to 423.6 million by 2027, leading to higher aspirations amongst such consumers due to
their higher disposable incomes. With a rise in disposable incomes by about a CAGR of 11%
over 2023-2027, the employed population with aspirational attitudes is likely to be more willing
to explore and invest in premium fragrances. As more men and women become financially
independent, the desire to enhance their personal image and create a lasting impression could
incline them towards premium fragrances that can offer them a better sense of fulfilment.
Furthermore, as consumers become more fashion-conscious due to the number of new
beauty and personal care brands entering India and the rise in digital engagement with brands,
consumers are set to seek more premium and innovative offerings in the coming years. To
attract such consumers, All Good Scents provides consumers with the unique option of pairing
perfumes to experiment with and create new and unique personalised fragrances. Ultimately, as
retail distribution improves, it is likely that more premium fragrances will launch their products in
India through both online and offline channels in the coming years.
CATEGORY DATA
Table 1 Sales of Fragrances by Category: Value 2017-2022
INR million
2017 2018 2019 2020 2021 2022
- Mass Fragrance Sets/ - - - - - -

Kits
- Mass Unisex Fragrances - - - - - -
- Mass Women's Fragrances 3,789.8 4,350.2 4,964.5 4,233.7 4,863.7 5,549.5
- Mass Men's Fragrances 9,064.0 10,226.1 11,478.7 9,724.8 11,137.8 12,643.6
Mass Fragrances 12,853.8 14,576.2 16,443.2 13,958.5 16,001.5 18,193.1
- Premium Fragrance - - - - - -
Sets/Kits
- Premium Unisex - - - - - -
Fragrances
- Premium Women's 4,012.5 4,514.1 5,068.8 3,170.6 3,849.5 4,546.2
Fragrances
- Premium Men's 7,528.9 8,417.3 9,360.0 5,761.1 7,006.6 8,089.9
Fragrances
Premium Fragrances 11,541.4 12,931.4 14,428.8 8,931.6 10,856.1 12,636.1
Fragrances 24,395.2 27,507.6 30,872.1 22,890.2 26,857.6 30,829.2
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
Table 2 Sales of Fragrances by Category: % Value Growth 2017-2022
% current value growth

2021/22 2017-22 CAGR 2017/22 Total
- Mass Fragrance Sets/Kits - - -

- Mass Unisex Fragrances - - -
- Mass Women's Fragrances 14.1 7.9 46.4
- Mass Men's Fragrances 13.5 6.9 39.5
Mass Fragrances 13.7 7.2 41.5
- Premium Fragrance Sets/Kits - - -
- Premium Unisex Fragrances - - -
- Premium Women's Fragrances 18.1 2.5 13.3
- Premium Men's Fragrances 15.5 1.4 7.5
Premium Fragrances 16.4 1.8 9.5
Fragrances 14.8 4.8 26.4
Table 3 NBO Company Shares of Fragrances: % Value 2018-2022
% retail value rsp

Company 2018 2019 2020 2021 2022
Baccarose Perfumes & 25.8 25.9 21.4 21.6 22.2

Beauty Products Pvt Ltd
Tarz Distribution India 12.7 12.5 12.5 12.3 12.3
Pvt Ltd
Titan Co Ltd 3.8 4.7 6.6 6.2 6.2
Beauty Concepts Pvt Ltd 4.8 4.8 4.5 4.4 4.4
Helene Curtis India Ltd, 3.6 3.6 4.8 4.3 4.1
JK
Vini Cosmetics Pvt Ltd 2.4 2.8 3.6 3.9 4.1
Procter & Gamble Hygiene 4.1 4.0 4.5 4.3 4.0
& Health Care Ltd
Hindustan Unilever Ltd 3.2 3.0 3.4 3.2 3.0
Oriflame India Pvt Ltd 2.1 2.3 2.7 1.9 1.5
Gillette India Ltd 1.2 1.2 1.4 1.3 1.2
VI John Group 0.8 0.7 0.9 0.8 0.7
Quest Retail Pvt Ltd 0.5 0.5 0.5 0.5 0.5
Avon Beauty Products 0.6 0.5 0.5 0.4 0.2
India Pvt Ltd
Others 34.3 33.4 32.8 35.0 35.6
Total 100.0 100.0 100.0 100.0 100.0
Table 4 LBN Brand Shares of Fragrances: % Value 2019-2022
% retail value rsp

Brand (GBO) Company (NBO) 2019 2020 2021 2022
Skinn Titan Co Ltd 4.7 6.6 6.2 6.2

Davidoff (Coty Inc) Tarz Distribution India 5.1 5.1 5.1 5.2
Pvt Ltd
Fogg Vini Cosmetics Pvt Ltd 2.8 3.6 3.9 4.1
Calvin Klein (Coty Inc) Tarz Distribution India 4.2 4.4 4.2 4.1
Pvt Ltd
Old Spice Aftershave Procter & Gamble Hygiene 4.0 4.5 4.3 4.0
(Procter & Gamble Co, & Health Care Ltd
The)
Bvlgari (LVMH Moët Beauty Concepts Pvt Ltd 3.8 3.6 3.6 3.5
Hennessy Louis
Vuitton SA)
Park Avenue (Raymond Helene Curtis India Ltd, 2.8 3.9 3.4 3.3
Ltd) JK
Burberry (Coty Inc) Tarz Distribution India 3.2 3.1 3.1 3.0
Pvt Ltd
Axe Aftershave Hindustan Unilever Ltd 3.0 3.4 3.2 3.0
(Unilever Group)
Gillette Aftershave Gillette India Ltd 1.2 1.4 1.3 1.2
Splash (Procter &
Gamble Co, The)
Versace (Euroitalia Baccarose Perfumes & 1.1 1.1 1.1 1.2
Srl) Beauty Products Pvt Ltd
Hugo Boss (Coty Inc) Baccarose Perfumes & 1.1 1.1 1.1 1.1
Park Avenue Helene Curtis India Ltd, 0.8 0.9 0.9 0.8
Aftershave (Raymond JK
Ltd)
Nautica (Coty Inc) Beauty Concepts Pvt Ltd 0.9 0.9 0.8 0.8
Armani (L'Oréal Groupe) Baccarose Perfumes & 0.9 0.9 0.8 0.8
Dolce & Gabbana Baccarose Perfumes & - - - 0.8
(Dolce & Gabbana Srl) Beauty Products Pvt Ltd
VI John Splash VI John Group 0.7 0.9 0.8 0.7
Aftershave Lotion
Montblanc (Inter Baccarose Perfumes & 0.8 0.7 0.7 0.7
Parfums Inc) Beauty Products Pvt Ltd
Paco Rabanne (Puig SL) Baccarose Perfumes & 0.9 0.6 0.7 0.7
Benetton (Puig SL) Baccarose Perfumes & 1.1 0.7 0.7 0.7
Issey Miyake Baccarose Perfumes & 0.6 0.7 0.7 0.7
(Shiseido Co Ltd) Beauty Products Pvt Ltd
Carolina Herrera Baccarose Perfumes & 0.8 0.6 0.6 0.6
(Puig SL) Beauty Products Pvt Ltd
The Body Shop Quest Retail Pvt Ltd 0.5 0.5 0.5 0.5
(Natura&Co)
Ulric de Varens Baccarose Perfumes & 0.4 0.5 0.4 0.4
(Ulric de Varens SA, Beauty Products Pvt Ltd
Parfums)
Ferrari (Perrigo Co Baccarose Perfumes & 0.4 0.4 0.4 0.3
Plc) Beauty Products Pvt Ltd
Avon Imari (Natura&Co) Avon Beauty Products - 0.4 0.3 0.2
India Pvt Ltd
Prada (L'Oréal Groupe) Baccarose Perfumes & - - 0.2 0.2
Oriflame Glacier Oriflame India Pvt Ltd 0.2 0.2 0.2 0.1
(Oriflame Cosmetics SA)
Oriflame Volare Oriflame India Pvt Ltd 0.1 0.1 0.1 0.1
(Oriflame Cosmetics SA)
Nina Ricci (Puig SL) Baccarose Perfumes & 0.1 0.1 0.1 0.1
Dolce & Gabbana Baccarose Perfumes & 0.7 0.7 0.8 -
Prada (Puig SL) Baccarose Perfumes & 0.2 0.1 - -
Avon Imari (Avon Avon Beauty Products 0.4 - - -
Products Inc) India Pvt Ltd
Avon Black Suede Avon Beauty Products 0.1 - - -
(Avon Products Inc) India Pvt Ltd
Others Others 52.2 48.5 50.2 51.0
Total Total 100.0 100.0 100.0 100.0
Table 5 LBN Brand Shares of Premium Men's Fragrances: % Value 2019-2022
% retail value rsp

Pvt Ltd
Pvt Ltd
Hennessy Louis
Vuitton SA)
Pvt Ltd
Dolce & Gabbana Baccarose Perfumes & - - - -
(Procter & Gamble Co, Beauty Products Pvt Ltd
The)
Hugo Boss (Procter & Baccarose Perfumes & - - - -
Gamble Co, The) Beauty Products Pvt Ltd
Burberry (Burberry Tarz Distribution India - - - -
Group Plc) Pvt Ltd
Others Others 52.2 44.2 47.0 47.8
Total Total 100.0 100.0 100.0 100.0
Table 6 LBN Brand Shares of Premium Women's Fragrances: % Value 2019-2022
% retail value rsp

Hennessy Louis
Vuitton SA)
Pvt Ltd
Pvt Ltd
Pvt Ltd

Dolce & Gabbana Baccarose Perfumes & - - - -
(Procter & Gamble Co, Beauty Products Pvt Ltd
The)
Hugo Boss (Procter & Baccarose Perfumes & - - - -
Gamble Co, The) Beauty Products Pvt Ltd
Burberry (Burberry Tarz Distribution India - - - -
Group Plc) Pvt Ltd
Others Others 39.0 31.8 33.6 34.9
Total Total 100.0 100.0 100.0 100.0
Table 7 Forecast Sales of Fragrances by Category: Value 2022-2027
INR million
2022 2023 2024 2025 2026 2027
- Mass Fragrance Sets/ - - - - - -

Kits
- Mass Unisex Fragrances - - - - - -
- Mass Women's Fragrances 5,549.5 5,998.7 6,469.1 6,974.4 7,515.4 8,064.2
- Mass Men's Fragrances 12,643.6 13,614.3 14,581.2 15,535.0 16,481.3 17,367.4
Mass Fragrances 18,193.1 19,613.0 21,050.3 22,509.4 23,996.8 25,431.5
- Premium Fragrance - - - - - -
Sets/Kits
- Premium Unisex - - - - - -
Fragrances
- Premium Women's 4,546.2 5,079.1 5,606.2 6,137.6 6,674.9 7,194.3
Fragrances
- Premium Men's 8,089.9 8,856.5 9,651.2 10,474.9 11,324.7 12,157.0
Fragrances
Premium Fragrances 12,636.1 13,935.6 15,257.4 16,612.5 17,999.6 19,351.3
Fragrances 30,829.2 33,548.6 36,307.7 39,121.9 41,996.4 44,782.8
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources
Table 8 Forecast Sales of Fragrances by Category: % Value Growth 2022-2027
% constant value growth

2022/2023 2022-27 CAGR 2022/27 Total
- Mass Fragrance Sets/Kits - - -

- Mass Unisex Fragrances - - -
- Mass Women's Fragrances 8.1 7.8 45.3
- Mass Men's Fragrances 7.7 6.6 37.4
Mass Fragrances 7.8 6.9 39.8
- Premium Fragrance Sets/Kits - - -
- Premium Unisex Fragrances - - -
- Premium Women's Fragrances 11.7 9.6 58.2
- Premium Men's Fragrances 9.5 8.5 50.3
Premium Fragrances 10.3 8.9 53.1
Fragrances 8.8 7.8 45.3
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Fragrances in India

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Fragrances in India

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Fragrances in India

LIST OF CONTENTS AND TABLES

Conducive External Factors Drive Growth In Fragrances In 2022

Focus On Affordable Packs To Attract Increased Consumer Demand For

Competition Within Premium Fragrances Intensifies With Entry Of New

PROSPECTS AND OPPORTUNITIES

Expansion Of Retail Offline Channels, Coupled With More Campaigns

Increasing Employed Population And Rising Aspirations Set To Push

- Mass Fragrance Sets/ - - - - - -

Table 2 Sales of Fragrances by Category: % Value Growth 2017-2022

% current value growth

- Mass Fragrance Sets/Kits - - -

Table 3 NBO Company Shares of Fragrances: % Value 2018-2022

% retail value rsp

Baccarose Perfumes & 25.8 25.9 21.4 21.6 22.2

Table 4 LBN Brand Shares of Fragrances: % Value 2019-2022

% retail value rsp

Skinn Titan Co Ltd 4.7 6.6 6.2 6.2

Table 5 LBN Brand Shares of Premium Men's Fragrances: % Value 2019-2022

% retail value rsp

Table 6 LBN Brand Shares of Premium Women's Fragrances: % Value 2019-2022

% retail value rsp

Srl) Beauty Products Pvt Ltd

Table 7 Forecast Sales of Fragrances by Category: Value 2022-2027

- Mass Fragrance Sets/ - - - - - -

Table 8 Forecast Sales of Fragrances by Category: % Value Growth 2022-2027

% constant value growth

- Mass Fragrance Sets/Kits - - -

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