Market Insights Consumer Beauty & Personal Care

Fragrances - Nicaragua

Nicaragua

In 2024, the Fragrances market in Nicaragua is projected to generate a revenue of US$45.71m.
This market segment is anticipated to experience an annual growth rate of 1.97% (CAGR 2024-2029).
When compared globally, in the United States leads in terms of revenue generation, reaching US$8,862m in 2024.
Considering the total population figures, the per person revenue in Nicaragua is estimated to be US$6.40 in 2024.
Additionally, by 2024, 94% of sales in the Fragrances market will be attributed to Non-Luxury.
Nicaragua's fragrance market is witnessing a surge in demand for locally sourced, natural ingredients, reflecting the country's rich biodiversity and commitment to sustainable practices.

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

Market

Region

Region comparison

Currency

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.