Project: Launching a Successful Natural Perfume Brand in Australia

This project presents a business idea for launching a natural perfume brand in Australia, capitalizing on the increasing consumer demand for organic and health-conscious products. The assignment analyzes the current perfume market, dominated by chemical-based perfumes, and highlights the p...Read More

The natural perfumes are expected to take over regular perfumes over time. The
customer preferences are changing to healthier lifestyle and environment friendly products.
The proposed business idea is that of a natural perfume brand. It has been keenly observed
that most of the perfumes in the market are chemical perfumes with a significant amount of
alcohol. They not only harm the skin but also cause severe skin diseases (Schaefer2015).
The current business trends indicate that the revenue in beauty and personal care
segment amounts to $5,757 Millions. Moreover, the market is expected to grow at a CAGR
of 2.8% during the period of 2019-2023. The fragrances market in Australia has revenues
around $627 Million and CAGR expected to be 2.5% for 2019-2023. Last year, 18% women
between the age group of 14-24 years bought perfume in an average of four week period; as
compared to 10% women between the age group of 50 to 64. Age groups between 25-34, 35-
49 and 65+ years were quite consistent on buying perfumes.
There is a large anticipated opportunity for natural perfumes. There are different types
of natural perfumes (such as soil based, toll-in-oil based and low alcohol based perfumes)
that could be launched in niche Australian market (Beier et al. 2014). Hence, we can
conclude that people that are changing their preferences towards an organic lifestyle and they
prefer to use safer products for their skin. The idea of buying behaviour has changed from
cost centric to quality centric products.
References
Schaefer, B., 2015. Natural products in the chemical industry. Springer.
Beier, R.C., Byrd, J.A., Kubena, L.F., Hume, M.E., McReynolds, J.L.,
Anderson, R.C. and Nisbet, D.J., 2014. Evaluation of linalool, a natural
antimicrobial and insecticidal essential oil from basil: Effects on poultry.
Poultry science, 93(2), pp.267-272.