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.
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.
Wellness & Mood-Boosting Fragrances
An NPD Fragrance Consumer Studyc found that three out of four consumers feel that fragrance helps lift their moods and evoke happy memories.
Fragrance brands recognize the positive link between scent and mood and are launching mood-boosting fine fragrances. The Nue Co is just such a player in mood-enhancing fragrances. In 2018, the brand debuted Functional Fragrance, which was designed to lower cortisol levels.
Footnotes:
awww.npd.com/news/press-releases/2022/u-s-prestige-beauty-industry-revenues-grow-by-30-in-2021-and-surpass-2019-levels-says-npd/
bwww.fortunebusinessinsights.com/perfume-market-102273
cwww.npd.com/news/blog/2021/the-fragrance-appeal/
For the full article, please check out the Perfumer & Flavorist+ June 2022 issue.
