Between 2013 and 2023, the German perfumes and toilet waters market displayed a fluctuating trend. The market value, which stood at $6.1173 billion in 2013, decreased to $5.7105 billion by 2023. It experienced the largest drop in 2015 with a year-on-year variation of -11.46%. However, the market stabilized in subsequent years, showing small, positive year-on-year variations. The last CAGR over the past five years was -0.83%, indicating a slight decline.
As of 2023, the market value was $5.7105 billion. For the past two years, the market showed minimal year-on-year growth with variations of 0.12% each year. Looking ahead to 2028, the forecast suggests a very modest growth with a 5-year CAGR of 0.09% and a forecast 5-year growth rate of 0.45%. This indicates a stabilization and potential slow growth in the coming years.
Future trends to watch for:
• Consumer preferences shifting towards natural and sustainable products.
• Increased demand for personalized and niche fragrances.
• Technological advancements in fragrance production and packaging.
• Economic factors and consumer spending power impacting discretionary spending on luxury items like perfumes.
