2023
10
The Future of Fragrance 2023
2022-12-08T18:00:48+00:00
REP556DC1F9_7BC6_4062_99A2_5F8345C9576D
2195
158305
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Report
en_GB
Fragrances will have to adapt to new macroeconomic contexts by offering escapism and driving value perceptions. Climate change will impact ingredient quality. Clotilde Drape, Global Beauty Analyst…

The Future of Fragrance 2023

£ 2,195 (Excl.Tax)

Description

The Future of Fragrance 2023 is a global market report that covers the latest innovations and consumer trends across the global fragrance market in 2023. Our global future of fragrance market report identifies evolving areas, consumer attitudes, and important advances expected across regions like EMEA, APAC, and LATAM over the next five years and beyond.

Global Fragrance Market Outlook

Opportunities exist for brands in the global fragrance market to further build on the association of fragrance with mood, particularly during macroeconomic difficulties, as there is increased interest as consumers seek a sensorial escape.

Consumers perceive fragrance as less eco-friendly than other BPC categories, so brands must emphasise their fragrance innovation and be more transparent, about their sustainability claims.

  • 22% of UK consumers would be interested in fragrances that make them feel like they are in another time or place.

Fragrance Innovation Trends in the Next Two Years

As consumers increasingly look for products best suited to their individual needs, fragrances can be positioned as an extension of one’s identity which supports repeat purchases.

Amid the cost of living crisis, consumers will need a reason to invest in fragrances; however, value need not always be about low price. Tying the value element to long-lasting benefits alongside multifunctional products or new ways of extending scent, such as primers have opportunities to attract money-conscious consumers.

  • 67% of UK consumers consider a long-lasting scent to be an important factor when choosing a fragrance.

Future of Fragrance in Five Years and Beyond

The global fragrance market will need to adapt to challenges created by global warming, which will impact crops and ingredient sourcing, ultimately altering the scent of fragrances.

A combination of science and technology will help propel future fragrance innovation to tackle these challenges and bring more sustainable solutions without compromising on scent.

  • 61% of US consumers are interested in refillable fragrances.

To discover more about The Future of Fragrance Market Report 2023, read our UK Fragrances Market Report 2022or take a look at our extensive Global Fragrances Market Research.

Expert Analysis from a BPC Specialist

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

Fragrances will have to adapt to new macroeconomic contexts by offering escapism and driving value perceptions. Climate change will impact ingredient quality.

Clotilde Drape
Global Beauty Analyst

Table of Contents

  1. Where we are now

  2. in the next two years

    • Escape reality through scent
    • Graph 1: areas people will continue to spend on despite financial difficulties, 2022
    • Graph 2: launches carrying ‘body mist’ descriptions, by region, 2019-22
    • Position fragrance as an extension of self
    • Graph 3: agreement with ‘The scents I wear reflect my personality’, by age, 2021
    • Graph 4: BPC launches by category containing ‘microbiome’ in the product description, 2021-22
    • Drive value perceptions in fragrances
    • Graph 5: top three types of fragrance/scented products purchased or used by market, 2021 and 2022
  3. in five years and beyond

    • Embrace science and technology to drive sustainability
    • Graph 6: BPC launches with ethical and environmental claims, 2017-22

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: This is a sample report. All of the figures, graphs, and tables have been redacted. Our reports are available to download in PDF and PPT formats.

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