GlobalData outlines six global trends driving innovation within the fragrance market. These six global trends in fragrances interconnect with a number of GlobalData trends, including Wellbeing, Customization, Premiumization & Indulgence, Fresh, Natural & Pure, and Novel & Experiential.
This report focuses on outlining the key consumer and innovation trends currently impacting the core categories in fragrances. GlobalData has identified six key trends that are currently shaping the fragrance space. A desire for natural formulations, a shift towards health-focused lifestyles, and demand for customizable fragrances are some of the main trends driving innovation in the market.
- Fragrances is an inherently premium market that benefits from an association with luxury and high quality, and in turn can command high prices.
- Consumers are shifting towards fragrances with natural and naturally-inspired formulations.
- Consumers are searching for fragrances that align with their individual needs and lifestyle preferences, looking beyond scent with a focus on the brand’s ethical practices.
- Fragrance customization is the way forward for consumers to express their individuality.
- Niche fragrances are gaining traction among consumers looking for products that evoke authenticity.
- Millennial consumers are more eager to try out new fragrances than their older counterparts
- Gender-neutral fragrances are gaining popularity in the fragrance space
- Opportunities exist to drive novelty across fragrances through new formats beyond scent and sprays
- Multidimensional fragrance experiences, subscription services and DNA-based fragrances are trends to watch out for in the near future.
Reasons To Buy
- Discover key trends in the fragrance market worldwide.
- Gain inspiration from recent innovative launches.
- Find out what might be next in the sector.