PROSPECTS AND OPPORTUNITIES
Improving economic conditions and expanding consumer base
During the forecast period, fragrances is expected to see growth driven by an improvement in the economy and price stability. Economic growth will drive an increase in the middle-income population and the number of employed consumers, boosting purchasing power.
Premium fragrances to see stronger growth, but mass segment set to perform well
While premium fragrances is expected to outperform mass fragrances over the forecast period as the economy improves, mass fragrances is also expected to grow well. Mass fragrances appeals to the large population of consumers who wish to use fragrances but cannot afford premium brands on a regular basis.
Innovation to focus on novel scents
Product innovation within fragrances is expected to move towards the development of novel scents, as consumers increasingly seek novelty. The development of customised and personalised products is also likely to appeal to consumers, as it has become a major theme across beauty and fashion, including in the apparel industry.
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Overview:
Understand the latest market trends and future growth opportunities for the Fragrances industry in Nigeria with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Fragrances industry in Nigeria, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Fragrances in Nigeria report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Fragrances in Nigeria?
- Which are the leading brands in Nigeria?
- How are products distributed in Nigeria?
- To what extent is e-commerce changing the retail environment and consumer demand?
- How are sales of mass versus premium beauty products evolving?
- Which products are seeing rising demand in the wake of COVID-19?
- Why are changing lifestyles and consumer behaviour patterns stimulating growth of some categories but not others?
- How is the macroeconomic environment shaping demand?
- Where is future growth expected to be most dynamic?
Fragrances in Nigeria - Category analysis
KEY DATA FINDINGS
Strong price increase due to prominence of imported products
Oriflame Nigeria’s lead founded on strong direct selling model
Beauty specialists appreciated for wide brand offer and expert advice
Improving economic conditions and expanding consumer base
Premium fragrances to see stronger growth, but mass segment set to perform well
Innovation to focus on novel scents
Beauty and Personal Care in Nigeria - Industry Overview
Beauty and personal care in 2024: The big picture
2024 key trends
Competitive landscape
Retail developments
What next for beauty and personal care?
DISCLAIMER
The following categories and subcategories are included:
Fragrances
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- Premium Body Mists
- Premium Men's Fragrances
- Premium Women's Fragrances
- Premium Unisex Fragrances
- Premium Fragrance Sets/Kits
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- Mass Body Mists
- Mass Men's Fragrances
- Mass Women's Fragrances
- Mass Unisex Fragrances
- Mass Fragrance Sets/Kits
Fragrances
This is the aggregation of men's, women's and unisex mass and premium fragrances as well as fragrances sets/kits and body mists. The distinction between mass market and premium is normally price and label/positioning (mass fragrances rarely carry a designer label) and distribution. Also includes hair fragrances with a primary function of making hair smell good and not to be confused with hair oil and other styling/conditioning products with hair fragrances, whose primary function is to either condition or style over fragrance.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Fragrances research and analysis database.
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