Market Insights Consumer Beauty & Personal Care

Fragrances - Dominican Republic

Dominican Republic

In 2024, the Fragrances market in the Dominican Republic is projected to generate revenues of US$134.80m.
This market segment is expected to experience an annual growth rate of 3.08% from 2024 to 2029, as measured by the Compound Annual Growth Rate (CAGR).
In comparison to other countries, in the United States leads the global Fragrances market with revenues reaching US$8,862m in 2024.
When considering the population of the Dominican Republic, the per person revenue in the Fragrances market amounts to US$11.79 in 2024.
Looking ahead to 2024, it is estimated that 58% of the sales in the Fragrances market will be attributed to Non-Luxury.
The Dominican Republic's fragrance market is experiencing a surge in demand for locally-made, organic scents inspired by the country's tropical climate and natural resources.

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

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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.