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Slowed Consumer Spending Affects French Fragrance Market
Posted: August 1, 2013
According to Canadean, France’s fragrance market, the second most important sector in the country’s health and beauty industry, will witness slower growth as French consumers reduce their spending in an effort to save more.
While fragrances is the second most valuable sector in the French health and beauty industry, it will witness only the seventh fastest-growth rate out of the nine health and beauty markets covered by market research firm Canadean. This highlights the continued contraction in consumer spending in France. Comparatively higher personal saving levels—15.5% in comparison to the average 2.5% rate in the U.S.—have had an impact on expenditure. The fragrances sector in France is forecast to witness a value CAGR of 1.5% and slightly higher volume CAGR of 2.0% until 2017.
Female fragrances dominate the sector, with a value share of 62.8% and volume share of 65%. It is also forecast to witness the strongest growth, with both value and volume CAGR forecast at 2.2% and 2.6% respectively, from 2012 to 2017.
Male fragrances made up less than half the volume of the market in 2012, at 31.7% volume and a slightly higher value of 33.8%. In growth terms, 2012–2017 is projected to see volume and value for male fragrances significantly lower than both sector levels and female fragrances; with a volume CAGR of 1.1% and value CAGR at just 0.3%.
The third category, unisex fragrances, recorded just over 3% of the sector for both value and volume in 2012, and its volume CAGR mirrors that of male fragrances. Its value growth is projected to be lower still, at 0.2%.