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Asian Fragrance Market Growing at a Fast Pace, According to Mintel
Posted: June 10, 2014
Narrowing its look on the fragrance market to just Asia, Mintel posted a blog entry from its global fragrance analyst Emmanuelle Moeglin, “Fragrance in Focus: Asia,” which brings to light where the opportunities for fragrance are in the Asian markets, as well as what Asian consumers are seeking in terms of scent.
Moeglin writes, “Whilst fragrance sales have declined over the last five years (with the exception of Japan), the Asian fragrance marketplace is growing at a fast pace.” This is partly because of China’s warming to Western-style fragrances. “China is only slowly opening up to Western fragrance standards, and the concept of perfume is relatively new to its consumers, who choose their fragrance to refer to Western lifestyles and special occasions,” Moeglin notes.
She also writes, “Vietnam certainly is a rising star – but as the category develops, market share is migrating from domestic players to the multinationals and local brands will have to fight back with innovations and improved technology. As a relatively new market, the competitive landscape of the fragrance retail market in Vietnam is markedly different to those of other Asian markets, largely due to the strength of local and direct sales players.”
Moeglin notes that fragranced products, rather than just fragrance itself, is often an option Asian consumers turn to when seeking to apply scent to their care routine. “While fragrance is not frequently used by most Asian consumers, subtly scented products are well accepted,” she writes. “International brands will introduce new formats and ancillaries to lure consumers into the fragrance category and then encourage them to trade up to EDPs and EDTs.”
And as to what products Asian consumers are liking, Moeglin notes, “In China, floral water is used by 52% of Chinese fragrance consumers and promises to reduce stickiness and itchiness for a healthy, cool, comfortable and refreshing result. Leveraging this cultural reference and combining pleasant smells with one or more added benefits will help foreign brands to appeal to wary consumers.” Also, she notes, “Hair perfume, a popular format in Japan because of the subtle scent it provides, will win over Indian consumers too, particularly if it incorporates cooling technology and refreshing scents.”