From 2013 to 2023, the sold production of perfumes and toilet waters in the UK exhibited significant fluctuations. The initial years saw a mixture of minor growth and declines, but 2017 marked a notable surge with a year-on-year increase of 106.04%. This was followed by a sharp decline in 2018. The period from 2019 to 2023 showed a consistent downward trend with minor year-on-year variations. The value stood at approximately 90.668 million Euros in 2023, reflecting a prolonged contraction phase.
Over the last two years (2022-2023), the market saw a downward trend with year-on-year declines of 3.07% and 3.1% respectively. The Compound Annual Growth Rate (CAGR) for this period further signifies a deceleration. Observing the last five years, the average annual variation per year indicates a negative trend, culminating in a more extended deceleration phase as projected into 2028, with a forecasted 5-year CAGR of -2.56%.
The future trends to watch for include potential market stabilization, shifts in consumer preferences driven by sustainability and personalization factors, and the impact of digital marketing and e-commerce growth on traditional sales channels. Additionally, economic conditions and regulatory changes will remain critical factors influencing market dynamics.
