The global market for mini refillable perfume bottles market is estimated to be worth USD 3,093.2 million in 2021 and is anticipated to reach a value of USD 5,139.2 million by 2031. Sales are projected to rise at a CAGR of 5.3% over the forecast period between 2021 and 2031. The revenue generated by the mini refillable perfume bottles market in 2020 was USD 1,393.2 million. The industry is anticipated to exhibit a Y-o-Y growth of 1.3% in 2021.
Global Mini Refillable Perfume Bottles Market Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2020 (A) | USD 1,393.2 million |
| Estimated Size, 2021 (E) | USD 3,093.2 million |
| Projected Size, 2031 (F) | USD 5,139.2 million |
| Value-based CAGR (2021 to 2031) | 5.3% |
The target market is segmented under bottle type, price range, end-user, and sales channel. The market is further sub-categorized under these segments to provide a granular aspect which will benefit the businesses operating in the market to improve on their products, gain a competitive edge over other players, and grasp a major portion of the market, in parallel.
The mini refillable perfume bottle market is experiencing robust growth, driven by increasing consumer demand for convenience, sustainability, and personalized fragrance options. The compact, portable bottles allow users to carry their favorite scents without the need to purchase large, expensive bottles, making them particularly popular among frequent travelers and those who prefer to switch between multiple fragrances. The market's expansion is also fueled by the growing awareness of environmental issues, as consumers seek to reduce waste by opting for refillable options rather than single-use bottles.
The competitive landscape of the mini refillable perfume bottles market is characterized by a mix of established players and emerging brands, each vying to capture a share of this growing segment. Key players in the market include Marcelle Dormoy, Gucci Gucci S.p.A., Chanel S.A., and Estee Lauder Companies Inc. among others. Key companies compete on factors such as design innovation, material quality, and brand reputation.
The industry is set to experience upward growth during the forecast period. It is projected to create an incremental opportunity of USD 2,046.0 million and is predicted to rise approximately 1.7 times the current market value through 2031.
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Evolving customer demands and rising interest of e-commerce platforms for shopping of essential and personal care products are likely to contribute towards the growth of the refillable perfume bottles industry. Moreover, the easy availability of perfume bottles through various retailers has had a positive influence on mini refillable perfume bottles sales.
Moreover, the increased usage of recycled products in various industries has led to the diversification of bottle types available in the market. Further, with the help of technology and development, lightweight materials are used to manufacture perfume bottles that can resist the liquid and not spoil it. In addition, major players offer schemes such as customizable packaging that makes the product more affordable and grows the demand in the market.
The sudden outbreak of the COVID-19 had resulted in severely affected the working of industries and shutting down every day activities to stop the spread of the virus, as implemented by the regional governments.
Moreover, the ruled-out strict regulations on the movement of individuals in commercial areas led to the rise of essential products and declined the demand for various personal beauty and care products, therefore, affecting the sales of mini refillable perfume bottles.
Mini refillable perfume bottles are easy to carry, use, and further, be refilled by unscrewing the pump. The perfume bottles are generally made of glass and plastics that can be recycled and thus, is a product market. Moreover, companies provide with desired sizes of bottles and extra liquids that can be purchased separately as well with a variety of fragrances.
In addition, the growing demand for unisex perfumes and fragrances especially, among millennials who intend to express their personality through their fragrances, as various brands also launch products that mark a certain character in an individual. Thus, it is encouraging manufacturers to diversify their product line and provide unique and affordable perfumes.
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The countries of North America are likely to contribute and lead the market in terms of sales of mini refillable perfumes bottles, owing to the rise in customer spending capacity on beauty and personal care products. The presence of innovative product awareness strategies, which gain the attention of the customers especially, millennials who are the key drivers for the demand for mini refillable perfume bottles.
In addition, countries such as the USA, Canada, and Mexico are anticipated to grow the demand at a rapid pace due to the growing number of international perfume manufacturers. However, demand for perfume and other luxury products is hindered due to the decrease in the economy and new regulations on trading have led to disruption of the supply chain.
The evolving mindset of players and manufacturers in various industries in Europe
Are likely to help the mini refillable perfume bottle industry to grow. Moreover, the distributors conduct a market study, and target their audience, and thus, with the growing popularity of working women the volume of sales is projected to rise.
Moreover, the presence of various global leaders in the beauty and personal care industry such as - Chanel, Gucci Gucci S.p.A., and LVMH among others in the countries of Europe are the key factors that make Europe the fastest-changing and evolving market for mini refillable perfumes bottles.
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Some of the leading manufacturers and suppliers of mini refillable perfume bottles include
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Mini Refillable Perfume Bottles Market
