Brazil is in the No. 2 fragrance market in the world. It trails only the US and is ahead of Germany. The global fragrance market grew just 6% to nearly $44 billion from 2015 to 2020, according to Euromonitor International. Those gains were dwarfed by Brazil, where sales surged 46.2% during the period to exceed $5.4 billion. For comparison, sales in the US grew 3.4% to nearly $8 billion and shrank 6.9% to $2.4 billion in Germany. Euromonitor predicts global fragrance sales will grow 17% in value through 2025. The best opportunities are expected in Brazil, where it will grow 15.9%, compared to 3.4% gains in the US and 1.2% in Germany.
— A view from Latin America; read more in Despite COVID Restrictions, Fine Fragrance Flourishes at Happi.