Recently, Euromonitor downgraded fragrance growth prospects, but a new report outlines global growth of 5.9% through 2026. Demand, according to Future Market Insights, will come from millennials, ecommerce expansion, new product launches from global brands and rising luxury spending.
The eau fraiche segment is expected to account for the highest market share (7.9% growth over the forecast period), followed by the eau de toilette segment (7% growth over the forecast period), the report explains.
Unisex fragrances will expand strongly through 2026, while women's fragrances will expand by between 4% and 5.2%.
Online will grow quickly, despite that brick and mortar sales still account for more than 80% of perfume sales.
Natural fragrances will grow at a rate of 5.5% to 6.5% through 2026, the report adds, driven by (often unfounded) consumer fears over synthetic ingredients. segment.
