Smelling good is priority now

Smelling good is priority now

FRAGRANCE

Smelling good is priority now

Fragrances are proving to be increasingly popular in urban India. Branded perfumes and deodorants are now must-haves on dressers  and bathroom shelves.

A report on the Indian fragrance industry by ASSOCHAM shows that the industry is growing at a compounded annual growth rate of over 40 per cent and it is likely to reach Rs 10,000 crore by 2015.

The fragrance industry in India is currently poised at about Rs 3,700 crore according to the study titled Domestic Fragrance Industry: The way ahead. It takes into account deodorants, perfumes and roll-ons.

Indian deodorant and roll-on market is currently poised at about Rs 1,800 crore and is growing at about 55 per cent annually, while the perfume market is growing at about 30 per cent and is currently poised at about Rs 1,500 crore.

The roll on market’s current size is Rs 400 crore as only a handful of brands are operating in this domain, highlights the study.

“Fragrance industry in India is still in nascent stages but its rising demand is largely fuelled by growing awareness and preferences amid the Indian middle-class which now has high disposable incomes.

This class does not shy away from splurging on lifestyle products to look and feel good,” says D S Rawat, secretary general, ASSOCHAM. “Besides, with grooming and personal hygiene fast becoming a part of peoples’ accessory wardrobes, demand for fragrances is likely to spiral significantly.”

From the customer’s point of view what are the reasons driving this trend? “It has become a ritual now. Every month I buy one expensive perfume. I just cannot stop myself from doing it. I can’t step out of my home without smelling good,” says Duhita Biswas, a media person.

Nearly 60 per cent of the fragrance market is dominated by the men’s category which is highly fragmented and keeps evolving with change in attitudes and lifestyle

Besides, high-end perfumes in the male category are also doing brisk business courtesy the growing urge among urbane Indian males to stay well-groomed.

Karan Yadav, a lawyer seconds this and says, “I want to smell good. It leaves a positive impression when you meet somebody. One should stay groomed always.”

Teenagers are a significant segment in both male and female categories as an average teenager at an urban centre tends to spend anywhere between Rs 500 and Rs 2,000 only on fragrance including – deodorants, roll-ons and perfumes.

Although, the fragr­a­n­ce business is not seasonal and consumers use it across the year but almost half of the aggregate sales of deodorants and perfumes occur between March and September as people splurge more to counter sweat causing body odour..

Moumita Das, working with an MNC, says, “I often get perfumes from abroad. My relatives bring me gifts but I buy them from India too. It has become a habit now.”

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