Brazil’s fragrance market continues rapid growth trend

By Andrew MCDOUGALL contact

- Last updated on GMT

Brazil’s fragrance market continues rapid growth trend

Related tags: Odor

It is the most valuable fragrance market in the world, and the Brazil sector is expected to continue its rapid growth in both men’s and women’s categories as the affluent population drives fragrance consumption.

By 2013 Brazil was already the most valuable fragrances market in the world, worth more than US$6 billion, built on the back of high per capita consumption as Brazilians use, on average, three times more fragrances by volume than consumers in the U.S., the next most valuable market.

It is such a valuable market that five of the major fragrance houses in the country (being Givaudan, IFF, Firmenich, Symrise and Takasago) invested around R$160 million in Brazil in recent years, making São Paulo one of the most important cities in the world in terms of development of fragrances, behind only New York and Paris.

Continuing growth

According to new research by Canadean, the market is set to continue growing helped by a broad consumer base, the experience-seeking behaviour of consumers, and a young and increasingly affluent population.

According to the researcher, fragrance consumption in Brazil is broad, meaning that manufacturers have many opportunities to target men and women with both mass and premium products.

For instance, men play a prominent role in the Brazilian fragrances market, consuming 48.7% of fragrances by volume.

Furthermore, consumers in the poorest 50% of households consume almost as many fragrances as those in the richest 50% of households, meaning there are opportunities for both mass and premium fragrances to succeed in the market.

Motivation

“When Brazilians come to select what fragrance to use, 25.5% of consumption by value is the result of consumers seeking to either affirm particular visions of femininity or masculinity, including the use fragrances to deliberately break gender stereotypes,”​ says Canadean.

“Meanwhile consumers’ desire to experience new or novel scents are a key motivation behind the consumption of just under a quarter of all fragrances in Brazil by value, while the desire to treat oneself is also important.”

The research firm says these motivations will drive future growth in the market, with Brazilians looking to indulge in new experiences; creating opportunities for new product launches that encourage consumers to treat themselves with novel scent combinations.

Related topics: Market Trends, Fragrance

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