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The Scent of Recession: Italian Fragrance Sector Faces Hard-Won Growth to 2017

02 August 2013

Growth rates for the Italian Fragrance sector are not to exceed 2% until 2017 thanks to reduced consumer spending power, according to a new report by market research firm Canadean.

Italy’s Fragrance sector feels the impact of recession

Italy has been in recession since mid-2011, and the country’s Gross Domestic Product has fallen sharply since 2007. These factors have impacted consumer spending on both essential and non-essential products, such as Fragrances. The Fragrances sector in Italy is forecast to grow by a volume Compound Annual Growth Rate (CAGR) of just 1.4% during 2012-2017, while value growth is forecast to be even lower, at just 0.8%.

Male Fragrances to grow more than Female Fragrances, but not by much

Although it is the largest category with over 60% of the sector, Female Fragrances is projected to show the slowest growth. The category will just meet average growth with a value CAGR at 0.7% and a volume CAGR of 1.4%,. Male Fragrances is expected to perform slightly better in both value and volume terms, with CAGRs of 0.9% and 1.5%, respectively. The category commanded just above a 38% share in both volume and value terms in 2012.

Unisex Fragrances, although a small fraction of the sector, to show most growth

Unisex Fragrances will be the best performing category, although possessing a much lower market share, with 1.5% for both value and volume in 2012. Growth in this category is projected to be just slightly above sector levels, with value and volume CAGR at 1.1% and 1.6%, respectively.

This information was based on Canadean’s report “The Future of the Fragrance Market in Italy to 2017”, published in July 2013.

For further information

Please contact the Canadean press office

Email: press@canadean.com

Telephone: +44 (0) 2032 200 818

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