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Despite high levels of unemployment and the country being one of those worst affected by the Eurozone crisis, new findings from Canadean indicate a need for Spanish consumers to occasionally treat themselves with luxury products such as fragrances. With a value CAGR of 0.5%, fragrance is set to be one of the five fastest-growing health and beauty sectors in Spain to 2017. It lies ahead of more mature sectors such as skin care and hair care, but behind the more indispensible oral hygiene and feminine hygiene sectors.
As the female fragrances category matures, it will become the slowest growing category of the sector over the next five years, with a value and volume CAGR of 0.4% and 0.2%, respectively, between 2012 and 2017.
Unisex fragrances took the lowest share of the sector in 2012, with value and volume shares of 4.5% and 4.6%, respectively, yet will display the highest value growth over the next five years, at a CAGR of 0.8% to 2017. Male fragrances will display the highest volume growth, at a CAGR of 0.8% for the same period.
Additionally, health and beauty stores and e-retailers are gaining share in Spain in recent years. However, as health and beauty stores and e-retailers have gained said share over the past few years, department stores, as well as drugstores and Pharmacies, have lost equal share. Most other channels saw no change in share.