2024
10
The Future of Fragrance 2024
2023-12-08T10:01:45+00:00
REP599A44B5_7FBA_40D0_9C27_CDAFC9D9D89B
2995
168902
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Report
en_GB
Competition in local vs international brands will see NPD take multisensorial experiences to the next level. NPD can promote cultural heritage and a feel-good factor. Clotilde Drape, Global Beauty…

The Future of Fragrance 2024

$ 2,995 (Excl.Tax)

Description

The Future of Fragrance is a global market report that covers the latest innovations and consumer trends across the global fragrance market in 2024. Our global future of report identifies evolving areas, consumer attitudes, and important advances expected across regions like EMEA, APAC, and the Americas over the next five years and beyond.

Global Fragrance Market Landscape

Appetite for fragrances is strong thanks to the global fragrance market position as an affordable luxury. However, the growing popularity of dupe culture will challenge premium brands.

Meanwhile, consumers are actively seeking ways to reduce stress, and there has been a rise in fragrance innovation with functional claims to boost moods.

  • 78% of UK consumers think fragrances can improve mental wellbeing.

The Future of Fragrance in the Next Two Years

Brands have an opportunity to create accessible luxury for those on luxury budgets using entry-level formats and elevated experiences.

Meanwhile, the future of fragrance depends on the ability to go beyond conventional scents. A growing number of brands will introduce consumers to elements of local culture and scent notes.

  • 58% of Italian adults typically use premium/luxury fragrance brands.

Global Fragrance Market Trends in Five Years and Beyond

The beauty industry is heading towards a technology revolution, and fragrances will go in the same direction. Technology can not only help create more personalised solutions but also aid in sampling and help monitor consumer reactions to fragrances.

This is just a snapshot of the Future of Fragrances, to learn more about future innovations and challenges facing the market, purchase our full report. Readers of this report may also be interested in A Year of Innovation in Fragrances Report 2023or take a look at our extensive Global Fragrances Market Research.

Expert Analysis from a BPC Specialist

This report, written by Clotilde Drape, a leading BPC analyst, delivers in-depth commentary and analysis to highlight global fragrance market trends and add expert context to the numbers.

Competition in local vs international brands will see NPD take multisensorial experiences to the next level. NPD can promote cultural heritage and a feel-good factor.

Clotilde Drapé, Global BPC Analyst

Clotilde Drape
Global Beauty Analyst

Table of Contents

  1. What you need to know

  2. in the next two years

    • Rethink the luxury fragrance experience
    • Graph 1: fragrance launches by price positioning, 2018-23
    • Graph 2: channels used to purchase fragrances in the last 12 months, 2023
    • Graph 3: scented product innovations consumers would you be willing to pay more for, 2023
    • Go beyond conventional scent notes
    • Graph 4: agreement* with ‘I try to buy from local companies where possible’, 2023
    • Graph 5: brand perceptions, 2023
    • Help consumers express their scented selves
    • Graph 6: adults* who agree that maintaining good mental health is key to overall wellbeing, 2023
  3. In five years and beyond

    • ‘Tech it’ to the next level in fragrance experiences and formulas
  4. Key Takeaways

About the report

This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.

The consumer

What They Want. Why They Want It.

The Competitors

Who’s Winning. How To Stay Ahead.

The Market

Size, Segments, Shares And Forecasts: How It All Adds Up.

The Innovations

New Ideas. New Products. New Potential.

The Opportunities

Where The White Space Is. How To Make It Yours.

The Trends

What’s Shaping Demand – Today And Tomorrow.

Below is a sample report, understand what you are buying.

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Future Of Sample Report

Please Note: All of the figures, graphs, and tables have been redacted.

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