Recent reporting predicts the global perfume market will reach $43.2 billion in 2028, growing at a 5.0% CAGR.
Despite the pandemic, fine fragrance sales have been growing. According to the NPD Groupa, fragrance sales in 2021 were up 49%, year-over-year, boosted by “pandemic winners” such as perfumes and scented candles. Sales of perfumes, colognes and other fragrance “juices” rose by 61%, year over year. The final quarter of 2021 accounted for 45% of fragrance category sales revenue, growing by 35% during the holiday selling season. Fortune Business Insightsb predicts the global perfume market will reach $43.2 billion in 2028, growing at a 5.0% CAGR. Mood-boosting aromas, better-for-you and better-for-the planet fragrances and celebrity scents drive 2022 fine fragrance trends.
