Following its strong current value growth in 2021 and 2022, fragrances is set to see its annual sales increases slow over the forecast period, as overconsumption in recent years coupled with higher costs of living may encourage consumers to pull back on their fragrance purchases. However, self-expression, wellness and fragrance “wardrobe” trends should moderate some of the negative impact, as fragrances have become more integrated into self-care routines rather than worn for the pleasure of others.
In 2022, 46% of business professionals in North America reported moderate to strong pressure for climate action from their consumers, and, most importantly, 82% of them expect climate change to shift consumer demand (Euromonitor International’s Voice of the Industry: Sustainability Survey, fielded in January 2022). As the importance of addressing safety, sustainability and ethical concerns grows, the forecast period will start to see a zeroing in on initiatives like traceability or more responsible sourcing and extracting methods that lessen the potential harm to the environment in the long term.
Due in large part to the pandemic, much of the recent digitalisation efforts in fragrances focused on online discovery and raising e-commerce sales; however, the forecast period will likely see a greater focus on digital engagement beyond transactions to drive future momentum. Players are therefore expected to continue exploring technology like AI, NFTs, Web 3.
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Understand the latest market trends and future growth opportunities for the Fragrances industry in USA 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 USA, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
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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