Market Insights Consumer Beauty & Personal Care

Fragrances - Philippines

Philippines

In 2024, the Fragrances market in the Philippines is expected to generate revenue of US$0.79bn.
It is projected to experience an annual growth rate of 0.75% (CAGR 2024-2029).
When compared globally, in the United States leads the market with revenue of US$8,862m in 2024.
Looking at the per capita figures, each person in the Philippines is expected to contribute US$6.61 in revenue in 2024.
Additionally, by 2024, 65% of the sales in the Fragrances market will come from Non-Luxury.
The fragrance market in the Philippines is experiencing a surge in demand for locally made scents inspired by traditional Filipino ingredients.

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.