A wealth of debut and pillar launches reflects continued confidence in the fragrance market, and the men’s sector in particular has been reinvigorated by the introduction of several blockbuster scents. Julia Wray reports
Consumers cut costs where they can during times of economic hardship but fragrance, like skin care, is non-negotiable for many. “Consumers don’t really trade down when it comes to fragrance,” comments Nicole Tyrimou, Beauty & Personal Care Analyst at Euromonitor International. “They might buy a smaller pack and wear it only for special occasions, but we’re not seeing mass fragrances benefitting from trade down.”
As such, the fragrance market grew 6.3% in 2012 to reach $43.2bn, according to data from Euromonitor. Although Tyrimou adds that this was largely “on the back of strong growth in Latin America and the Middle East and Africa, which were the only regions that grew in double digits”.
Not yet a Subscriber?
This is a small extract of the full article which is available ONLY to premium content subscribers. Click below to get premium content on Cosmetics Business.
Subscribe now Already a subscriber? Sign in here.