TABLE OF CONTENTS
Introduction 15
What is this report about? 15
Who is the target reader? 15
How to use this report 15
Definitions 15
Group of Eight (G8) Fragrances 16
Industry Outlook 16
Fragrances in Canada 20
Market Overview 20
Market Data 21
Market Segmentation 23
Market outlook 27
Five forces analysis 29
Macroeconomic indicators 35
Fragrances in France 37
Market Overview 37
Market Data 38
Market Segmentation 40
Market outlook 44
Five forces analysis 46
Macroeconomic indicators 52
Fragrances in Germany 54
Market Overview 54
Market Data 55
Market Segmentation 57
Market outlook 61
Five forces analysis 63
Macroeconomic indicators 69
Fragrances in Italy 71
Market Overview 71
Market Data 72
Market Segmentation 74
Market outlook 78
Five forces analysis 80
Macroeconomic indicators 86
Fragrances in Japan 88
Market Overview 88
Market Data 89
Market Segmentation 91
Market outlook 95
Five forces analysis 97
Macroeconomic indicators 103
Fragrances in Russia 105
Market Overview 105
Market Data 106
Market Segmentation 108
Market outlook 112
Five forces analysis 114
Macroeconomic indicators 120
Fragrances in The United Kingdom 122
Market Overview 122
Market Data 123
Market Segmentation 125
Market outlook 129
Five forces analysis 131
Macroeconomic indicators 137
Fragrances in The United States 139
Market Overview 139
Market Data 140
Market Segmentation 142
Market outlook 146
Five forces analysis 148
Macroeconomic indicators 154
Company Profiles 156
Leading companies 156
Appendix 178
Methodology 178

LIST OF TABLES
Table 1: G8 fragrances industry, revenue($m), 2008-17 16
Table 2: G8 fragrances industry, revenue by country ($m), 2008-12 18
Table 3: G8 fragrances industry forecast, revenue by country ($m), 2012-17 19
Table 4: Canada fragrances market value: $ million, 2008–12 21
Table 5: Canada fragrances market volume: million units, 2008–12 22
Table 6: Canada fragrances market category segmentation: $ million, 2012 23
Table 7: Canada fragrances market geography segmentation: $ million, 2012 24
Table 8: Canada fragrances market share: % share, by value, 2012 25
Table 9: Canada fragrances market distribution: % share, by value, 2012 26
Table 10: Canada fragrances market value forecast: $ million, 2012–17 27
Table 11: Canada fragrances market volume forecast: million units, 2012–17 28
Table 12: Canada size of population (million), 2008–12 35
Table 13: Canada gdp (constant 2000 prices, $ billion), 2008–12 35
Table 14: Canada gdp (current prices, $ billion), 2008–12 35
Table 15: Canada inflation, 2008–12 36
Table 16: Canada consumer price index (absolute), 2008–12 36
Table 17: Canada exchange rate, 2008–12 36
Table 18: France fragrances market value: $ million, 2008–12 38
Table 19: France fragrances market volume: million units, 2008–12 39
Table 20: France fragrances market category segmentation: $ million, 2012 40
Table 21: France fragrances market geography segmentation: $ million, 2012 41
Table 22: France fragrances market share: % share, by value, 2012 42
Table 23: France fragrances market distribution: % share, by value, 2012 43
Table 24: France fragrances market value forecast: $ million, 2012–17 44
Table 25: France fragrances market volume forecast: million units, 2012–17 45
Table 26: France size of population (million), 2008–12 52
Table 27: France gdp (constant 2000 prices, $ billion), 2008–12 52
Table 28: France gdp (current prices, $ billion), 2008–12 52
Table 29: France inflation, 2008–12 53
Table 30: France consumer price index (absolute), 2008–12 53
Table 31: France exchange rate, 2008–12 53
Table 32: Germany fragrances market value: $ million, 2008–12 55
Table 33: Germany fragrances market volume: million units, 2008–12 56
Table 34: Germany fragrances market category segmentation: $ million, 2012 57
Table 35: Germany fragrances market geography segmentation: $ million, 2012 58
Table 36: Germany fragrances market share: % share, by value, 2012 59
Table 37: Germany fragrances market distribution: % share, by value, 2012 60
Table 38: Germany fragrances market value forecast: $ million, 2012–17 61
Table 39: Germany fragrances market volume forecast: million units, 2012–17 62
Table 40: Germany size of population (million), 2008–12 69
Table 41: Germany gdp (constant 2000 prices, $ billion), 2008–12 69
Table 42: Germany gdp (current prices, $ billion), 2008–12 69
Table 43: Germany inflation, 2008–12 70
Table 44: Germany consumer price index (absolute), 2008–12 70
Table 45: Germany exchange rate, 2008–12 70
Table 46: Italy fragrances market value: $ million, 2008–12 72
Table 47: Italy fragrances market volume: million units, 2008–12 73
Table 48: Italy fragrances market category segmentation: $ million, 2012 74
Table 49: Italy fragrances market geography segmentation: $ million, 2012 75
Table 50: Italy fragrances market share: % share, by value, 2012 76
Table 51: Italy fragrances market distribution: % share, by value, 2012 77
Table 52: Italy fragrances market value forecast: $ million, 2012–17 78
Table 53: Italy fragrances market volume forecast: million units, 2012–17 79
Table 54: Italy size of population (million), 2008–12 86
Table 55: Italy gdp (constant 2000 prices, $ billion), 2008–12 86
Table 56: Italy gdp (current prices, $ billion), 2008–12 86
Table 57: Italy inflation, 2008–12 87
Table 58: Italy consumer price index (absolute), 2008–12 87
Table 59: Italy exchange rate, 2008–12 87
Table 60: Japan fragrances market value: $ million, 2008–12 89
Table 61: Japan fragrances market volume: million units, 2008–12 90
Table 62: Japan fragrances market category segmentation: $ million, 2012 91
Table 63: Japan fragrances market geography segmentation: $ million, 2012 92
Table 64: Japan fragrances market share: % share, by value, 2012 93
Table 65: Japan fragrances market distribution: % share, by value, 2012 94
Table 66: Japan fragrances market value forecast: $ million, 2012–17 95
Table 67: Japan fragrances market volume forecast: million units, 2012–17 96
Table 68: Japan size of population (million), 2008–12 103
Table 69: Japan gdp (constant 2000 prices, $ billion), 2008–12 103
Table 70: Japan gdp (current prices, $ billion), 2008–12 103
Table 71: Japan inflation, 2008–12 104
Table 72: Japan consumer price index (absolute), 2008–12 104
Table 73: Japan exchange rate, 2008–12 104
Table 74: Russia fragrances market value: $ million, 2008–12 106
Table 75: Russia fragrances market volume: million units, 2008–12 107
Table 76: Russia fragrances market category segmentation: $ million, 2012 108
Table 77: Russia fragrances market geography segmentation: $ million, 2012 109
Table 78: Russia fragrances market share: % share, by value, 2012 110
Table 79: Russia fragrances market distribution: % share, by value, 2012 111
Table 80: Russia fragrances market value forecast: $ million, 2012–17 112
Table 81: Russia fragrances market volume forecast: million units, 2012–17 113
Table 82: Russia size of population (million), 2008–12 120
Table 83: Russia gdp (constant 2000 prices, $ billion), 2008–12 120
Table 84: Russia gdp (current prices, $ billion), 2008–12 120
Table 85: Russia inflation, 2008–12 121
Table 86: Russia consumer price index (absolute), 2008–12 121
Table 87: Russia exchange rate, 2008–12 121
Table 88: United Kingdom fragrances market value: $ million, 2008–12 123
Table 89: United Kingdom fragrances market volume: million units, 2008–12 124
Table 90: United Kingdom fragrances market category segmentation: $ million, 2012 125
Table 91: United Kingdom fragrances market geography segmentation: $ million, 2012 126
Table 92: United Kingdom fragrances market share: % share, by value, 2012 127
Table 93: United Kingdom fragrances market distribution: % share, by value, 2012 128
Table 94: United Kingdom fragrances market value forecast: $ million, 2012–17 129
Table 95: United Kingdom fragrances market volume forecast: million units, 2012–17 130
Table 96: United Kingdom size of population (million), 2008–12 137
Table 97: United Kingdom gdp (constant 2000 prices, $ billion), 2008–12 137
Table 98: United Kingdom gdp (current prices, $ billion), 2008–12 137
Table 99: United Kingdom inflation, 2008–12 138
Table 100: United Kingdom consumer price index (absolute), 2008–12 138
Table 101: United Kingdom exchange rate, 2008–12 138
Table 102: United States fragrances market value: $ million, 2008–12 140
Table 103: United States fragrances market volume: million units, 2008–12 141
Table 104: United States fragrances market category segmentation: $ million, 2012 142
Table 105: United States fragrances market geography segmentation: $ million, 2012 143
Table 106: United States fragrances market share: % share, by value, 2012 144
Table 107: United States fragrances market distribution: % share, by value, 2012 145
Table 108: United States fragrances market value forecast: $ million, 2012–17 146
Table 109: United States fragrances market volume forecast: million units, 2012–17 147
Table 110: United States size of population (million), 2008–12 154
Table 111: United States gdp (constant 2000 prices, $ billion), 2008–12 154
Table 112: United States gdp (current prices, $ billion), 2008–12 154
Table 113: United States inflation, 2008–12 155
Table 114: United States consumer price index (absolute), 2008–12 155
Table 115: United States exchange rate, 2008–12 155
Table 116: Avon Products, Inc.: key facts 156
Table 117: Avon Products, Inc.: key financials ($) 157
Table 118: Avon Products, Inc.: key financial ratios 157
Table 119: Chanel S.A.: key facts 159
Table 120: Joh. A. Benckiser GmbH: key facts 160
Table 121: L'Oreal S.A.: key facts 161
Table 122: L'Oreal S.A.: key financials ($) 162
Table 123: L'Oreal S.A.: key financials (€) 162
Table 124: L'Oreal S.A.: key financial ratios 163
Table 125: The Estee Lauder Companies Inc.: key facts 165
Table 126: The Estee Lauder Companies Inc.: key financials ($) 166
Table 127: The Estee Lauder Companies Inc.: key financial ratios 166
Table 128: LVMH Moet Hennessy Louis Vuitton SA: key facts 168
Table 129: LVMH Moet Hennessy Louis Vuitton SA: key financials ($) 169
Table 130: LVMH Moet Hennessy Louis Vuitton SA: key financials (€) 169
Table 131: LVMH Moet Hennessy Louis Vuitton SA: key financial ratios 169
Table 132: The Procter & Gamble Company: key facts 171
Table 133: The Procter & Gamble Company: key financials ($) 172
Table 134: The Procter & Gamble Company: key financial ratios 172
Table 135: Conter SpA: key facts 174
Table 136: Shiseido Company, Limited: key facts 175
Table 137: Shiseido Company, Limited: key financials ($) 176
Table 138: Shiseido Company, Limited: key financials (¥) 176
Table 139: Shiseido Company, Limited: key financial ratios 176

LIST OF FIGURES
Figure 1: G8 fragrances industry, revenue($m), 2008-17 16
Figure 2: G8 Fragrances industry, revenue by country (%), 2012 17
Figure 3: G8 fragrances industry, revenue by country ($m), 2008-12 18
Figure 4: G8 fragrances industry forecast, revenue by country ($m), 2012-17 19
Figure 5: Canada fragrances market value: $ million, 2008–12 21
Figure 6: Canada fragrances market volume: million units, 2008–12 22
Figure 7: Canada fragrances market category segmentation: % share, by value, 2012 23
Figure 8: Canada fragrances market geography segmentation: % share, by value, 2012 24
Figure 9: Canada fragrances market share: % share, by value, 2012 25
Figure 10: Canada fragrances market distribution: % share, by value, 2012 26
Figure 11: Canada fragrances market value forecast: $ million, 2012–17 27
Figure 12: Canada fragrances market volume forecast: million units, 2012–17 28
Figure 13: Forces driving competition in the fragrances market in Canada, 2012 29
Figure 14: Drivers of buyer power in the fragrances market in Canada, 2012 30
Figure 15: Drivers of supplier power in the fragrances market in Canada, 2012 31
Figure 16: Factors influencing the likelihood of new entrants in the fragrances market in Canada, 2012 32
Figure 17: Factors influencing the threat of substitutes in the fragrances market in Canada, 2012 33
Figure 18: Drivers of degree of rivalry in the fragrances market in Canada, 2012 34
Figure 19: France fragrances market value: $ million, 2008–12 38
Figure 20: France fragrances market volume: million units, 2008–12 39
Figure 21: France fragrances market category segmentation: % share, by value, 2012 40
Figure 22: France fragrances market geography segmentation: % share, by value, 2012 41
Figure 23: France fragrances market share: % share, by value, 2012 42
Figure 24: France fragrances market distribution: % share, by value, 2012 43
Figure 25: France fragrances market value forecast: $ million, 2012–17 44
Figure 26: France fragrances market volume forecast: million units, 2012–17 45
Figure 27: Forces driving competition in the fragrances market in France, 2012 46
Figure 28: Drivers of buyer power in the fragrances market in France, 2012 47
Figure 29: Drivers of supplier power in the fragrances market in France, 2012 48
Figure 30: Factors influencing the likelihood of new entrants in the fragrances market in France, 2012 49
Figure 31: Factors influencing the threat of substitutes in the fragrances market in France, 2012 50
Figure 32: Drivers of degree of rivalry in the fragrances market in France, 2012 51
Figure 33: Germany fragrances market value: $ million, 2008–12 55
Figure 34: Germany fragrances market volume: million units, 2008–12 56
Figure 35: Germany fragrances market category segmentation: % share, by value, 2012 57
Figure 36: Germany fragrances market geography segmentation: % share, by value, 2012 58
Figure 37: Germany fragrances market share: % share, by value, 2012 59
Figure 38: Germany fragrances market distribution: % share, by value, 2012 60
Figure 39: Germany fragrances market value forecast: $ million, 2012–17 61
Figure 40: Germany fragrances market volume forecast: million units, 2012–17 62
Figure 41: Forces driving competition in the fragrances market in Germany, 2012 63
Figure 42: Drivers of buyer power in the fragrances market in Germany, 2012 64
Figure 43: Drivers of supplier power in the fragrances market in Germany, 2012 65
Figure 44: Factors influencing the likelihood of new entrants in the fragrances market in Germany, 2012 66
Figure 45: Factors influencing the threat of substitutes in the fragrances market in Germany, 2012 67
Figure 46: Drivers of degree of rivalry in the fragrances market in Germany, 2012 68
Figure 47: Italy fragrances market value: $ million, 2008–12 72
Figure 48: Italy fragrances market volume: million units, 2008–12 73
Figure 49: Italy fragrances market category segmentation: % share, by value, 2012 74
Figure 50: Italy fragrances market geography segmentation: % share, by value, 2012 75
Figure 51: Italy fragrances market share: % share, by value, 2012 76
Figure 52: Italy fragrances market distribution: % share, by value, 2012 77
Figure 53: Italy fragrances market value forecast: $ million, 2012–17 78
Figure 54: Italy fragrances market volume forecast: million units, 2012–17 79
Figure 55: Forces driving competition in the fragrances market in Italy, 2012 80
Figure 56: Drivers of buyer power in the fragrances market in Italy, 2012 81
Figure 57: Drivers of supplier power in the fragrances market in Italy, 2012 82
Figure 58: Factors influencing the likelihood of new entrants in the fragrances market in Italy, 2012 83
Figure 59: Factors influencing the threat of substitutes in the fragrances market in Italy, 2012 84
Figure 60: Drivers of degree of rivalry in the fragrances market in Italy, 2012 85
Figure 61: Japan fragrances market value: $ million, 2008–12 89
Figure 62: Japan fragrances market volume: million units, 2008–12 90
Figure 63: Japan fragrances market category segmentation: % share, by value, 2012 91
Figure 64: Japan fragrances market geography segmentation: % share, by value, 2012 92
Figure 65: Japan fragrances market share: % share, by value, 2012 93
Figure 66: Japan fragrances market distribution: % share, by value, 2012 94
Figure 67: Japan fragrances market value forecast: $ million, 2012–17 95
Figure 68: Japan fragrances market volume forecast: million units, 2012–17 96
Figure 69: Forces driving competition in the fragrances market in Japan, 2012 97
Figure 70: Drivers of buyer power in the fragrances market in Japan, 2012 98
Figure 71: Drivers of supplier power in the fragrances market in Japan, 2012 99
Figure 72: Factors influencing the likelihood of new entrants in the fragrances market in Japan, 2012 100
Figure 73: Factors influencing the threat of substitutes in the fragrances market in Japan, 2012 101
Figure 74: Drivers of degree of rivalry in the fragrances market in Japan, 2012 102
Figure 75: Russia fragrances market value: $ million, 2008–12 106
Figure 76: Russia fragrances market volume: million units, 2008–12 107
Figure 77: Russia fragrances market category segmentation: % share, by value, 2012 108
Figure 78: Russia fragrances market geography segmentation: % share, by value, 2012 109
Figure 79: Russia fragrances market share: % share, by value, 2012 110
Figure 80: Russia fragrances market distribution: % share, by value, 2012 111
Figure 81: Russia fragrances market value forecast: $ million, 2012–17 112
Figure 82: Russia fragrances market volume forecast: million units, 2012–17 113
Figure 83: Forces driving competition in the fragrances market in Russia, 2012 114
Figure 84: Drivers of buyer power in the fragrances market in Russia, 2012 115
Figure 85: Drivers of supplier power in the fragrances market in Russia, 2012 116
Figure 86: Factors influencing the likelihood of new entrants in the fragrances market in Russia, 2012 117
Figure 87: Factors influencing the threat of substitutes in the fragrances market in Russia, 2012 118
Figure 88: Drivers of degree of rivalry in the fragrances market in Russia, 2012 119
Figure 89: United Kingdom fragrances market value: $ million, 2008–12 123
Figure 90: United Kingdom fragrances market volume: million units, 2008–12 124
Figure 91: United Kingdom fragrances market category segmentation: % share, by value, 2012 125
Figure 92: United Kingdom fragrances market geography segmentation: % share, by value, 2012 126
Figure 93: United Kingdom fragrances market share: % share, by value, 2012 127
Figure 94: United Kingdom fragrances market distribution: % share, by value, 2012 128
Figure 95: United Kingdom fragrances market value forecast: $ million, 2012–17 129
Figure 96: United Kingdom fragrances market volume forecast: million units, 2012–17 130
Figure 97: Forces driving competition in the fragrances market in the United Kingdom, 2012 131
Figure 98: Drivers of buyer power in the fragrances market in the United Kingdom, 2012 132
Figure 99: Drivers of supplier power in the fragrances market in the United Kingdom, 2012 133
Figure 100: Factors influencing the likelihood of new entrants in the fragrances market in the United Kingdom, 2012 134
Figure 101: Factors influencing the threat of substitutes in the fragrances market in the United Kingdom, 2012 135
Figure 102: Drivers of degree of rivalry in the fragrances market in the United Kingdom, 2012 136
Figure 103: United States fragrances market value: $ million, 2008–12 140
Figure 104: United States fragrances market volume: million units, 2008–12 141
Figure 105: United States fragrances market category segmentation: % share, by value, 2012 142
Figure 106: United States fragrances market geography segmentation: % share, by value, 2012 143
Figure 107: United States fragrances market share: % share, by value, 2012 144
Figure 108: United States fragrances market distribution: % share, by value, 2012 145
Figure 109: United States fragrances market value forecast: $ million, 2012–17 146
Figure 110: United States fragrances market volume forecast: million units, 2012–17 147
Figure 111: Forces driving competition in the fragrances market in the United States, 2012 148
Figure 112: Drivers of buyer power in the fragrances market in the United States, 2012 149
Figure 113: Drivers of supplier power in the fragrances market in the United States, 2012 150
Figure 114: Factors influencing the likelihood of new entrants in the fragrances market in the United States, 2012 151
Figure 115: Factors influencing the threat of substitutes in the fragrances market in the United States, 2012 152
Figure 116: Drivers of degree of rivalry in the fragrances market in the United States, 2012 153
Figure 117: Avon Products, Inc.: revenues & profitability 157
Figure 118: Avon Products, Inc.: assets & liabilities 158
Figure 119: L'Oreal S.A.: revenues & profitability 163
Figure 120: L'Oreal S.A.: assets & liabilities 164
Figure 121: The Estee Lauder Companies Inc.: revenues & profitability 166
Figure 122: The Estee Lauder Companies Inc.: assets & liabilities 167
Figure 123: LVMH Moet Hennessy Louis Vuitton SA: revenues & profitability 170
Figure 124: LVMH Moet Hennessy Louis Vuitton SA: assets & liabilities 170
Figure 125: The Procter & Gamble Company: revenues & profitability 173
Figure 126: The Procter & Gamble Company: assets & liabilities 173
Figure 127: Shiseido Company, Limited: revenues & profitability 177
Figure 128: Shiseido Company, Limited: assets & liabilities 177