Southern Asia: Perfume Market 2024

Perfume Market Size in Southern Asia

The South Asian perfume market expanded significantly to $X in 2022, growing by 5.8% against the previous year. In general, consumption posted a strong expansion. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Perfume Production in Southern Asia

In value terms, perfume production stood at $X in 2022 estimated in export price. In general, production saw a strong expansion. The pace of growth was the most pronounced in 2015 when the production volume increased by 75% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Perfume Exports

Exports in Southern Asia

Perfume exports skyrocketed to X tons in 2022, picking up by 128% against the year before. Over the period under review, exports enjoyed prominent growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, perfume exports soared to $X in 2022. Total exports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +4.9% 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 +72.9% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

India prevails in exports structure, reaching X tons, which was near 98% of total exports in 2022. Pakistan (X tons) took a relatively small share of total exports.

India was also the fastest-growing in terms of the perfumes and toilet waters exports, with a CAGR of +5.3% from 2012 to 2022. Pakistan experienced a relatively flat trend pattern. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest perfume supplier in Southern Asia, comprising 97% of total exports. The second position in the ranking was taken by Pakistan ($X), with a 1.5% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in India amounted to +5.1%.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, waning by -37.6% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 25% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while Pakistan amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+2.0%).

Perfume Imports

Imports in Southern Asia

In 2022, imports of perfumes and toilet waters in Southern Asia soared to X tons, picking up by 31% against the previous year. Total imports indicated a slight expansion from 2012 to 2022: its volume increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +100.6% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 53% against the previous year. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, perfume imports surged to $X in 2022. Total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +133.9% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

India dominates imports structure, finishing at X tons, which was near 59% of total imports in 2022. It was distantly followed by Maldives (X tons), Pakistan (X tons), Sri Lanka (X tons), Afghanistan (X tons) and Bangladesh (X tons), together making up a 36% share of total imports. Nepal (X tons) followed a long way behind the leaders.

India experienced a relatively flat trend pattern with regard to volume of imports of perfumes and toilet waters. At the same time, Maldives (+15.3%), Afghanistan (+11.4%) and Bangladesh (+3.7%) displayed positive paces of growth. Moreover, Maldives emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +15.3% from 2012-2022. Nepal experienced a relatively flat trend pattern. By contrast, Pakistan (-2.8%) and Sri Lanka (-4.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Maldives and Afghanistan increased by +6.7 and +4.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported perfumes and toilet waters in Southern Asia, comprising 76% of total imports. The second position in the ranking was taken by Afghanistan ($X), with a 5.9% share of total imports. It was followed by Bangladesh, with a 5.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in India amounted to +8.5%. The remaining importing countries recorded the following average annual rates of imports growth: Afghanistan (+6.6% per year) and Bangladesh (+0.9% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, surging by 26% against the previous year. Import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +4.9% 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 2017 an increase of 34%. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+7.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :