Market Insights Consumer Beauty & Personal Care

Fragrances - Singapore

Singapore

In 2024, the Fragrances market in Singapore is projected to generate a revenue of €131.70m.
This market segment is expected to experience an annual growth rate of 1.11% from 2024 to 2029 (CAGR 2024-2029).
When compared globally, in the United States leads in terms of revenue, with a projected amount of €8,218m in 2024.
Taking into account the total population figures, in Singapore is estimated to generate a per person revenue of €21.76 in 2024.
By 2024, approximately 52% of the sales in the Fragrances market will be attributed to Luxury.
"Singapore's fragrance market is booming with a rising demand for luxury scents and a growing preference for unique and niche fragrances."

Key regions: Malaysia, Worldwide, United Arab Emirates, United Kingdom, Indonesia

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Methodology

Data coverage:

The data encompasses B2C enterprises. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations such as population, GDP per capita, and Human Development Index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, multiple forecasting techniques based on different forecasting methods, such as Autoregressive Integrated Moving Average (ARIMA) and exponential trend smoothing, can provide the most accurate forecasts.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.