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According to a report from Canadean, Germany’s fragrance sector’s volume will grow in volume at a CAGR of 1.4% to 2017. Despite a lack of strong growth, the category will still take second place in the health and beauty sector.
With a value CAGR of 0.9% between 2012 and 2017, the fragrance sector is only the seventh fastest growing out of the nine German health and beauty sectors monitored by Canadean. German consumers are very price conscious despite having the strongest economy in Europe, and often German consumers perceive fragrances to be a luxury item, rather than an everyday product. They are therefore careful when choosing their favored product.
Female fragrances held the largest share of the sector in 2012, with value and volume shares of 54.8% and 54.2% respectively. However, the category will also display the slowest growth over the next five years at a value CAGR of 0.7% and volume CAGR of 1.3% to 2017, which is below the sector average for both measurements.
In contrast, both male and unisex fragrance categories will grow at a value CAGR of 1.1% between 2012 and 2017, with male just growing ahead of unisex fragrances in terms of volume, at CAGRs of 1.6% and 1.5%, respectively.