McNROE to launch fragrance experience hub for womens across India
Body odor is a common problem many people face. It can cause social embarrassment and difficulty in personal interactions. This situation arises especially for people living in hot, humid tropical and subtropical countries like INDIA. Deodorant products come in handy in these situations. More women than men preferred a compact and portable size of a deodorant product in India. Women from all regions of India stated that the cream-based deodorants in roll-on formats have long-lasting effects and are easy to carry.
Wild Stone, Secret Temptation & Heavens Garden-maker McNROE Consumer Products Pvt. Ltd. Is about setting up fragrance experience centers across India to let women experience perfumes and does, who is a major consumer of the brand. Women’s category is growing at 6.5% over men’s 5.4%. The company forecasts to engage women consumers through this launch to touch a turnover of 1,200 crores by 2022, as against 408 crores last year.
The fragrance industry’s rapid growth is attributed primarily to the advent of functional products with several characteristics. The fragrance market of India has been categorized into perfumes and deodorants, out of which deodorants have been doing pretty well for the past few years. However, for ages, Indian people have used perfumes and perfume oils on their bodies. The late 19th century was the first real era of perfume when new scents were created because of advances in organic chemistry knowledge. Synthetic perfume products were used in place of certain hard to find or expensive ingredients. The fragrance market in India has been on a high, in terms of production, consumption, import as well as export and is in the process of growing exceptionally with more youngsters wearing fragrances. Youngsters are infusing perfumes and deodorants in their daily personal grooming routine. The Indian fragrance market is further differentiated between organized and unorganized markets.
According to a recently published report by Bonafide Research, “India Fragrance Market Outlook, 2022”, the organized market for fragrance products like deodorants and perfumes is set to grow extraordinarily and reach to a total market size of around INR 6500 crore by 2019. The expanding product lines due to significant technological advancements and growing importance towards personal grooming & appearance; coupled with increasing consumer spending on beauty and wellness have contributed to the growth of the fragrance market. The Indian market for fragrances consists of organized players like HUL, ITC, J.K Helene Curtis, McNroe Consumer Products, Marico, Nivea etc. which are giving tough competition to unorganized players. Foreign giants like Avon, Coty, L’Oréal have also set up their shops locally and are expected to compete vigorously to gain an upper hand in the market.
In the past, attar and alcoholic perfumes were the only significant categories of the fragrance market and were mostly represented by unorganized players with the major chunk largely imported. However, with the passage of time, more and more organized players have entered the market, thus increasing the overall market size and making it even more compelling for the unorganized players to introduce new cost-effective products. Organized players are keeping their product prices in traction so as to capture a larger size of the market as Indian consumers have a tendency to buy a product that is low-cost and doesn’t burn a hole in their pockets. A significant upward growth trend is expected, given the increasing scale of local firms and the need and demand for standardization of products. High-end sophisticated fragrances are set to have an increase in demand as consumers look to impress their peers, subordinates in office environments.
India Fragrance Market is dominated by deodorants whereas perfumes are also picking up pace with the onset of lifestyle changes. Deodorants kill the bacteria that causes odor when there is perspiration. As it is a more natural process to allow bodies to sweat, it makes more sense for consumers to use deodorants. Aluminium-free underarm deodorants play a vital role in keeping the body clean and fresh. For the present generation, it is impossible to imagine life without deodorants. Different types of deodorants are available in the market from which one needs to select that meets their requirements. India’s deodorant market is expected to grow with a CAGR of more than 15% over next five years out of which the aerosol/spray form of deodorant is expected to continue its dominance over 2017-2022.