As a result of home seclusion during the pandemic, fragrances was particularly hard hit in 2020. Use of fragrances strongly correlates with daily activities away from home.
In 2020, premium fragrances experienced an overall stronger slump in sales compared to the mass segment. One of the reasons was the closure of health and beauty specialist retailers and department stores during the lockdown.
Demand for essential oils or products that enhanced one’s wellbeing increased during the pandemic. Since consumers were generally spending longer periods of time at home, the need to feel comfortable or refresh one’s living environment created space for “home fragrances”.
Following the significant drop in demand during 2020, fragrances is expected to post a more positive performance over the early part of the forecast period as consumers gradually resume socialising and returning to the office environment. However, general cautiousness will continue to linger in terms of expenditure on discretionary purchases such as fragrances, and therefore, value sales (at constant 2020 prices) are unlikely to fully recover to pre-pandemic levels by the end of the forecast period.
Following the pandemic, companies are likely to continue to push their premium fragrances through online platforms. At the same time, bricks-and-mortar counterparts are likely to intensify their efforts to defend their sales from a permanent shift towards e-commerce.
The concept of combining fragrance with skin care in light of the movement towards holistic wellness and self-care could potentially gain traction over the forecast period. Boosters and serums applied in the form of droplets have inspired perfume houses to develop new concepts.
Delivery:
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
Understand the latest market trends and future growth opportunities for the Fragrances industry in Germany with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Fragrances industry in Germany, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Fragrances
This report originates from Passport, our Fragrances research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Home Page