In this article, we will discuss the 13 Best Cheap Perfumes for Women That Smell Amazing. You can skip our detailed discussion of the perfume industry and see the . Precedence Research reports that the global perfume market size stood at $54.
12 billion in 2023 and is projected to be around $96.28 billion by 2033, growing at a CAGR of 5.93% during the forecast period of 2024 to 2033.
The report notes Europe as having the biggest market share at 37%, with Asia-Pacific markets growing at the fastest rate, projected to reach $27.44 billion by 2033 from $16 billion in 2024. READ ALSO and .
Fragrance dupes, or cheaper fragrances that mimic high-end labels, are becoming increasingly popular. Circana Complete Beauty reports that sales of private-label mass brands capitalizing on this trend and driving innovation in this space soared by 94% in 2023. Furthermore, many customers are choosing smaller sizes to get the high-end product without paying an extra price.
According to Circana, juices under 1 oz. in the women's fragrance industry grew five times faster than other sizes in 2023 based on units sold. You can also check out our article on the “ .
” Hence, body sprays, dupes, and travel sizes provide a unique way for fragrance buyers to add variety at cheaper prices. Additionally, as we noted in our article " ," Technavio projects that the US perfume market will grow at a CAGR of 9.12% between 2022 and 2027.
One of the biggest companies driving this growth is Bath & Body Works, Inc.