Peru: Perfume Market 2024

Perfume Market Size in Peru

The Peruvian perfume market shrank modestly to $X in 2022, approximately mirroring the previous year. The market value increased at an average annual rate of +2.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Perfume Production in Peru

In value terms, perfume production skyrocketed to $X in 2022 estimated in export price. In general, production, however, showed a pronounced shrinkage. The growth pace was the most rapid in 2020 when the production volume increased by 286% against the previous year. Perfume production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Perfume Exports

Exports from Peru

In 2022, overseas shipments of perfumes and toilet waters were finally on the rise to reach X tons after nine years of decline. In general, exports, however, recorded a deep setback. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, perfume exports totaled $X in 2022. Over the period under review, exports, however, saw a deep slump. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Bolivia (X tons) was the main destination for perfume exports from Peru, accounting for a 52% share of total exports. Moreover, perfume exports to Bolivia exceeded the volume sent to the second major destination, Colombia (X tons), threefold. The third position in this ranking was taken by Chile (X tons), with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Bolivia totaled -9.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-15.9% per year) and Chile (-29.0% per year).

In value terms, Bolivia ($X) remains the key foreign market for perfumes and toilet waters exports from Peru, comprising 57% of total exports. The second position in the ranking was held by Colombia ($X), with a 22% share of total exports. It was followed by Chile, with a 4.2% share.

From 2012 to 2022, the average annual growth rate of value to Bolivia amounted to -5.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-13.9% per year) and Chile (-28.5% per year).

Export Prices by Country

The average perfume export price stood at $X per ton in 2022, growing by 3.2% against the previous year. Over the last decade, it increased at an average annual rate of +3.0%. The growth pace was the most rapid in 2018 when the average export price increased by 11% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Bolivia ($X per ton), while the average price for exports to Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bolivia (+4.1%), while the prices for the other major destinations experienced more modest paces of growth.

Perfume Imports

Imports into Peru

In 2022, approx. X tons of perfumes and toilet waters were imported into Peru; with a decrease of -7.1% compared with the previous year's figure. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by 29% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, perfume imports shrank to $X in 2022. In general, imports showed a slight curtailment. The pace of growth appeared the most rapid in 2019 when imports increased by 33%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Colombia (X tons) constituted the largest perfume supplier to Peru, with a 59% share of total imports. Moreover, perfume imports from Colombia exceeded the figures recorded by the second-largest supplier, Brazil (X tons), sevenfold. Chile (X tons) ranked third in terms of total imports with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Colombia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+17.0% per year) and Chile (+31.3% per year).

In value terms, Colombia ($X) constituted the largest supplier of perfumes and toilet waters to Peru, comprising 40% of total imports. The second position in the ranking was taken by Spain ($X), with a 15% share of total imports. It was followed by Panama, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from Colombia stood at -2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+10.2% per year) and Panama (-6.1% per year).

Import Prices by Country

In 2022, the average perfume import price amounted to $X per ton, reducing by -4.3% against the previous year. Over the period under review, the import price showed a mild decline. The pace of growth was the most pronounced in 2021 an increase of 5.5%. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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