Millennials to boost global fragrance market

Rising spending power fuelled by growth in personal grooming will help the market reach $70bn by 2026

The global perfumes market is set to reach $70bn by the end of 2026 and to reach a CAGR of 5.9%, according to market researcher Future Market Insights (FMI). 

An increasing tendency to spend on personal grooming coupled with rising spending power will be the two key market drivers, says FMI, while the wide diversity of personal grooming products available and the fact that online retail is increasingly penetrating into developing countries should also fuel the market during the forecast period. 

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