Asia-Pacific: Perfume Market 2024

Perfume Market Size in Asia-Pacific

The Asia-Pacific perfume market amounted to $X in 2022, with an increase of 4.1% against the previous year. In general, consumption continues to indicate resilient growth. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Perfume Production in Asia-Pacific

In value terms, perfume production rose modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a resilient increase. The most prominent rate of growth was recorded in 2015 when the production volume increased by 50% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Perfume Exports

Exports in Asia-Pacific

In 2022, approx. X tons of perfumes and toilet waters were exported in Asia-Pacific; with an increase of 38% on 2021 figures. The total export volume increased at an average annual rate of +2.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, perfume exports stood at $X in 2022. Total exports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +38.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 28%. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

Exports by Country

In 2022, India (X tons), China (X tons) and Singapore (X tons) was the key exporter of perfumes and toilet waters in Asia-Pacific, mixing up 81% of total export. Hong Kong SAR (X tons) ranks next in terms of the total exports with a 6.9% share, followed by Indonesia (6.6%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by India (with a CAGR of +5.3%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) remains the largest perfume supplier in Asia-Pacific, comprising 50% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with an 18% share of total exports. It was followed by China, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore amounted to +5.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Hong Kong SAR (+7.9% per year) and China (+7.4% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, declining by -21.8% against the previous year. Export price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 an increase of 31%. Over the period under review, the export prices attained the maximum at $X per ton in 2021, and then reduced sharply in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+6.8%), while the other leaders experienced more modest paces of growth.

Perfume Imports

Imports in Asia-Pacific

In 2022, approx. X tons of perfumes and toilet waters were imported in Asia-Pacific; with a decrease of -2.1% on 2021. Over the period under review, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 14% against the previous year. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, perfume imports stood at $X in 2022. Overall, imports, however, saw resilient growth. The most prominent rate of growth was recorded in 2021 when imports increased by 31%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

The countries with the highest levels of perfume imports in 2022 were Singapore (X tons), Australia (X tons), Hong Kong SAR (X tons), Malaysia (X tons), India (X tons), South Korea (X tons), Taiwan (Chinese) (X tons), Japan (X tons), the Philippines (X tons), Indonesia (X tons), China (X tons) and Thailand (X tons), together resulting at 89% of total import.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +11.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Singapore ($X) and Hong Kong SAR ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 54% share of total imports.

Among the main importing countries, China, with a CAGR of +29.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, growing by 2.3% against the previous year. Overall, the import price recorded a buoyant expansion. The pace of growth was the most pronounced in 2018 when the import price increased by 23%. Over the period under review, import prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+21.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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