In 2023, the sold production of perfumes in Spain was 48.2 thousand liters. The forecasted data for the years 2024 to 2028 show a steady increase in production volumes:
- 2024: 56.75 thousand liters (17.7% increase year-on-year)- 2025: 65.8 thousand liters (15.9% increase year-on-year)- 2026: 74.76 thousand liters (13.6% increase year-on-year)- 2027: 83.62 thousand liters (11.8% increase year-on-year)- 2028: 92.4 thousand liters (10.5% increase year-on-year)
From 2024 to 2028, the average annual growth rate (CAGR) is approximately 14.3%. This indicates a healthy and robust upward trend in the perfume production market in Spain, suggesting increasing consumer demand.
Future trends to watch for include potential shifts in consumer preferences towards sustainable and eco-friendly products, technological advancements in production methods, and influences of global economic conditions on market growth. Additionally, increased market entry by new players and innovation in fragrance formulas could play a significant role in shaping the landscape.
