Market Insights Consumer Beauty & Personal Care

Fragrances - Sri Lanka

Sri Lanka

The Fragrances market in Sri Lanka is projected to generate a revenue of US$176.60m in 2024.
This market is expected to grow at an annual rate of 3.38% (CAGR 2024-2029).
In comparison to other countries, in the United States leads the way with a revenue of US$8,862m in 2024.
When considering the population, it can be observed that per person revenues amount to US$8.05 in 2024.
Additionally, it is estimated that 92% of sales in the Fragrances market by 2024 will be attributed to Non-Luxury.
Sri Lanka's fragrance market is experiencing a surge in demand for traditional Ayurvedic scents, reflecting the country's rich cultural heritage.

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.