Philippines: Perfume Market 2025

Perfume Market Size in the Philippines

The Philippine perfume market skyrocketed to $X in 2022, picking up by 17% against the previous year. Overall, the total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +21.0% against 2019 indices. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Perfume Production in the Philippines

In value terms, perfume production reached $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 134% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Perfume Exports

Exports from the Philippines

Perfume exports from the Philippines shrank markedly to X tons in 2022, with a decrease of -31.7% against 2021 figures. In general, exports saw a deep reduction. The pace of growth appeared the most rapid in 2016 with an increase of 494%. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, perfume exports shrank rapidly to $X in 2022. Overall, exports recorded a abrupt contraction. The most prominent rate of growth was recorded in 2016 with an increase of 411%. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Malaysia (X tons), Qatar (X tons) and Oman (X tons) were the main destinations of perfume exports from the Philippines, with a combined 67% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Oman (with a CAGR of +77.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Qatar ($X) and Saudi Arabia ($X) constituted the largest markets for perfume exported from the Philippines worldwide, together comprising 68% of total exports. Taiwan (Chinese), Oman, Singapore and Hong Kong SAR lagged somewhat behind, together comprising a further 17%.

Among the main countries of destination, Oman, with a CAGR of +81.6%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average perfume export price stood at $X per ton in 2022, growing by 18% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The pace of growth appeared the most rapid in 2021 when the average export price increased by 48%. The export price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Hong Kong SAR ($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 Taiwan (Chinese) (+5.0%), while the prices for the other major destinations experienced more modest paces of growth.

Perfume Imports

Imports into the Philippines

In 2022, purchases abroad of perfumes and toilet waters increased by 71% to X tons, rising for the second consecutive year after three years of decline. Overall, imports posted a strong increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, perfume imports surged to $X in 2022. Over the period under review, imports recorded a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest perfume supplier to the Philippines, accounting for a 67% share of total imports. Moreover, perfume imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), fivefold. The third position in this ranking was held by the United States (X tons), with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +19.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-0.2% per year) and the United States (+19.2% per year).

In value terms, the largest perfume suppliers to the Philippines were China ($X), Singapore ($X) and France ($X), together comprising 64% of total imports.

Singapore, with a CAGR of +34.6%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average perfume import price amounted to $X per ton, picking up by 20% against the previous year. In general, import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, perfume import price increased by +103.7% against 2017 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 24% against the previous year. The import price peaked in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+11.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :