Indian fragrances sector driven by growing young population: Report

A growing young population with higher disposable income is driving growth in the fragrances sector in India, according to a report from UK-based research firm Canadean.

The report titled, Market Focus: Trends and Developments in the Fragrances sector in India, noted that the volume growth will be fuelled by female fragrances category.

The volume of fragrances products in India will grow at a CAGR of 16% during 2012 to 2017, slightly higher than the volume CAGR of 13.3% recorded during 2007-2012.

Between 2007 and 2017, female fragrances and male fragrances will gain a larger market share, while unisex fragrances will lose the share, indicating the consumers’ preference for products designed specifically for them, instead of the products positioned across genders.

Currently, convenience stores account for the majority of health & beauty sales; however, department Store sales of fragrances will continue to grow due to the premium, personalized service they offer consumers.

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