Spate, a consumer trend data intelligence platform, recently launched. fragrance trend report“Explore the top formats, notes, and brands that pique consumer interest in the fragrance product space.” According to a report by a market research company. Statista,”Fragrances in the beauty and personal care sector accounted for 9.2% of beauty and personal care revenue in 2022, with global revenue of USD 53.44 billion in 2022, expected to increase to USD 67.4 billion by 2028 .”
For anyone looking to invest in the fragrance space in 2024 and beyond, it is essential to understand what the average consumer is looking for in a fragrance product. As stated in the spurt report, “In recent years, a growing interest in fragrances has spread across different consumer groups, with high-end luxury brands gaining popularity alongside nostalgic, decadent, yet affordable fragrances.Further, the report details:Consumers are looking for affordable ways to layer and experiment, as evidenced by increased interest in sampling services.”
To learn more about the key takeaways from the Spate Fragrance Trends Report, including surprising findings, noteworthy growth trends in the fragrance space, and increasingly popular ingredients in fragrance product formulations, Cosmetics Design is a co-founder of Spate. We spoke to Yarden Horwitz for some insight.
Fragrance inspired by fruit
One of the important points to consider in this report is:Top scents predicted to grow the most next year, including mango, strawberry and pear, reveal consumers want to keep their scents fresh and fruity in 2024,”,and”I think the growth predictions for fruity scents such as mango, strawberry, and pear are very interesting.” Horwitz said.
”Increased searches for vanilla perfume, pistachio perfume, honey perfume, orange perfume, and all fruity scents predicted to increase in popularity next year, reveal that consumers are focusing on sweet and fruity scents. Masu” she added. The Spurt report recommends:Brands should keep an eye on these scents as they continue to go mainstream. ”For fragrance brand manufacturers and suppliers, the report specifically states:How to highlight these notes alongside your current favorites (like vanilla perfume or fresh scents)” enables a smooth transition to the 2024 trending consumer market.
Additionally, Horwitz added:We’re also seeing fruit-inspired trends in the makeup category, like Hailey Bieber’s strawberry girl makeup.” she explained: The desire to cross categories and combine fresh faces with fresh scents” indicates that cosmetics manufacturers and suppliers to cosmetics brands may consider incorporating fruit-inspired fragrances into their product formulations to increase consumer appeal in this trending category. .
Increasing diversity in product formats
Another important point of the space report is:Growing interest in perfumes, sprays, oils and hair perfumes reveals how consumers are stepping up their fragrance efforts“The report recommends that:”Brands should offer popular scents in different formats at multiple stages of consumers’ daily lives“To better respond to this rising trend in consumer product palatability,” the report added.Whether it’s a multi-scented hair oil or a layerable mini perfume or travel perfume, different formats serve as different key touchpoints to increase brand awareness.”
The increased versatility of branded product formats also allows for the incorporation of a variety of trending scents. ”Consumers are craving pheromone fragrances. ” Horwitz explained:Developers should investigate ingredients that claim to affect pheromones and consider ways to disprove or debunk those claims.“Incorporating pheromone fragrances into a variety of products is another way brands can promote product versatility.”This is a great way to attract new audiences while gaining credibility” she said.
location, location, location
The third and final takeaway from the Spate Fragrance Trends report is to consider the importance of season and location when developing and launching new fragrance products in 2024. As stated in the report,Searches for summer scents and Arabic perfumes highlight consumers’ desire to use scents across time and place“and these”The search for summer fragrances was particularly interesting” Horwitz said.
The report explains:Whether exploring seasonality or providing inspiration from other cultures around the world, brands can enhance this journey through scents that cater to these desires.“To better appeal to a more inclusive and broader consumer base.”Most queries highlight the desire for male options.” Horwitz said.This presents an opportunity for fragrance brands to more overtly market scents seasonally.”
For example, she presented the following data:Summer scents grew by +48.3% compared to the previous year”, indicating a growing demand for scents that reflect when they will be used, regardless of the gender of the consumer.
