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With a value CAGR of 2.4%, fragrances will be the fastest-growing health and beauty sector in Australia. With consumers looking for cheaper products, volumes are expected to grow slightly ahead of value, at a CAGR of 3.7% to 2017, the study said.
The women's fragrances category held the largest share of the sector in 2012, and shows no sign of slowing. The category is expected to grow to value and volume CAGR of 3% and 4%, respectively, to 2017. Brand extensions, such as the various editions of 212 by Caroline Herrera, will help fuel this growth.
Unisex fragrances are becoming increasingly more important in the country as well, aided by the emergence of unisex scents from brands such as Molton Brown, yet the category will still be the slowest growing in the country, at a value and volume CAGR of 0.9% and 2.4% respectively for 2012 to 2017.