New year, new fragrance and industry trends. Product innovations and trends are expected to propel the global fragrances and perfumes market to $51 billion by 2022. Individual expression plays a large role in current fragrance trends, with bespoke products and variety leading the way into 2017.
Expect to see the following this year:
Customized fragrances: Personalization has emerged as a hallmark of many niche brands. Commodity invites consumers to mix a “cocktail” by layering individual fragrances to create a unique scent, while other companies, such as Waft, utilize technology to allow customers to create their own personal fragrance based on favorite social activities, moods and scents. Consumers can stock up on smaller sized versions of favorite fragrances to curate a scent “wardrobe.”
Natural scents: Natural fragrances have held a firm place in the market as consumers pay closer attention to the ingredients and processes used to make beauty products. The multifunctional aspects of such fragrances are an added bonus—essential oils’ antioxidant, anti-aging and other properties are attractive to consumers.
Unisex: Women want to express their personality beyond traditionally feminine fragrances and branch into more masculine notes. As gender norms evolve, more women are wearing fragrances once reserved for men. Unisex scents have risen in popularity and are oft targeted at millennial consumers, with 29% of 2015’s fragrance launches sporting a genderless label.