Fragrances saw only a small current value decline in 2021, after witnessing a strong single-digit decline in 2020. Although the value decline was not as strong as in 2020, it should be noted that this was partly due to price rises, since retail volume sales still decreased considerably.
In 2021, fragrances continued to be led by three players in value terms: Coty Deutschland GmbH, L’Oréal Deutschland GmbH and LVMH Perfumes & Cosmetics GmbH. In premium men’s fragrances, Coty maintained its leading position thanks to the distribution of the international brands Hugo Boss, Davidoff, Joop! and Calvin Klein, followed by Puig Deutschland with the distribution of Paco Rabanne and Jean Paul Gaultier.
Both manufacturers and retailers continued with their adapted marketing strategies during 2021, in particular in terms of price and distribution. In both the premium and mass segments, manufacturers and retailers endeavoured to push sales with highly aggressive price promotions around the Christmas period.
Fragrances is forecast to return to growth in current value terms in 2022, but recovery to the pre-COVID-19 level of sales is likely to take place over a period of a few years. Volume recovery is likely to be even slower, as consumers’ habits have shifted, with fewer social occasions, a digital scent-less environment normalising social occasions without fragrances, and home working reducing interest in experimenting with scents, which many consider invasive in the home environment.
The ability of fragrances to reduce stress and bring back good memories may help its recovery in the coming years, with an increased emphasis on mental health and wellbeing. This, in conjunction with a return to normality over the forecast period may, to some extent, help retailers promote fragrances to help “transport” consumers to happier times, therefore helping drive volume consumption.
After a slow period during 2020-2021, moving forward both premium and mass fragrances are expected to see innovation. In premium categories, innovation is largely likely to take place amongst existing and established brands, although niche players focusing on an upscale, high-end consumer experience, often utilising central retail locations, will act as occasional challengers.
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This is the aggregation of men's, women's and unisex mass and premium fragrances as well as fragrances sets/kits. The distinction between mass market and premium is normally price and label/positioning (mass fragrances rarely carry a designer label) and distribution. Also includes hair fragrances with a primary function of making hair smell good and not to be confused with hair oil and other styling/conditioning products with hair fragrances, whose primary function is to either condition or style over fragrance.See All of Our Definitions
This report originates from Passport, our Fragrances research and analysis database.
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