The rapid pace of urbanization, rising standards of living, and changes in lifestyles resulted in the rising popularity of beauty products. For instance, more and more people like to use fragrances and personal care products to elevate their style and match their makeup and outfit. This has resulted in the expansion of the perfume market.
In line with the market expansion, more and more customers attach importance to the ingredients of the scent they use. They care about whether the ingredients are safe, sustainable, and individual. This blog offers some insights into this trend.
The overall trend of fragrance
In recent years, both men’s and women’s perfume markets are growing rapidly in the world.
The estimated market size of global perfume is $31,760 million in 2022 and is predicted to grow to $42,080 million by 2028, with a CAGR of 4.8% during the forecast period. One of the predicted trends associated with this growth is the rise of an ingredient-driven perfume industry in 2023.
Many customers care about the chemical elements of a perfume—whether they are beneficial to the health and sustainable. They also pay attention to how each ingredient works with each other to bring out the scent of the perfume.
In other words, customers attach importance to the physical and sentimental composition of a perfume. They expect the ingredients to be harmless to human health and to bring mental benefits to them. This may be the reason why some customers are willing to buy personalized fragrances.
Focus on wellness
When selecting a perfume, customers tend to spend more time checking and comparing the safety and wellness features of the ingredients. McKinsey pointed out that 79% of consumers consider wellness important, especially some customers who are cautious of harmful health effects. Consequently, people are sensitive to fragrance chemicals.
Some perfumes may contain toxic elements, such as allergens, hormone disruptors, and asthma triggers. These elements can also penetrate the skin and enter the bloodstream. To ensure the safety of your customers, you must be prudent in wholesaling and selling perfume. A logical step is to conduct a safety test or secure a certificate proving that your products meet FDA standards. Instead of products whose labels on the bottles list only water, alcohol, and fragrance, many customers prefer products with labels that can provide a complete list of ingredients.
Customers who are aware of their wellness understand the importance of selecting the right ingredient to protect the environment. The most crucial concern about perfumes is their use of petrochemicals, which are biodegradable elements derived from natural gas and petroleum. These chemicals are known as potential contributors to various types of harmful pollution.
The perfume market has witnessed a rise in the demand for eco-friendly and natural perfumes. To meet customers’ expectations, an increasing number of perfume manufacturers are using natural ingredients. In addition, the industry has innovated new synthetic ingredients according to green chemistry principles. In most cases, a new synthetic alternative is more environmentally-friendly than traditional synthetic elements. This innovation prevents the over-farming of crops and avoids the use of wildlife for tests and trials and, therefore, reduces harmful impacts on the environment.
At present, many people tend to patronize brands that actively take social responsibility toward sustainable development. In this regard, companies that work toward social change and sustainability will attract more buyers.
The fragrance is regarded as an indicator of personality. The scent used by a person can convey his or her character.
Originally, perfume was used to mask body odor. Nowadays, people consider it a method of self-expression. Customers select the signature scent based on their personal preferences. In this way, rather than choosing a famous fragrance from luxury brands, many people prefer to have a unique niche scent. They would like to build their own fragrance collection, with a day scent that has an attractive top note, joyful middle note, and base note lasting hours.
Each scent represents a personality. In the world of fragrance, for example, people who wear floral scents, or light flower scents, are usually friendly, feminine, and enjoy spending time in nature. Fruity lovers are energetic. They tend to like bold and bright colors and can easily attract people. An aquatic smell can activate the image of sea waves, coastlines, sea wind, and rain. This scent is an ideal choice for dreamers who are casual, free-spirited, and simple. Crisp, ripe, and fresh scent links to a sense of chicness and class. Besides that, some people prefer musk, cologne, vanilla, or fruity scent.
Try to provide customers with a wide array of fragrance notes to allow them to find a scent that complements their characteristics.
Along with Gen Z’s desire to support individuality, the available perfume products in the market are expected to carry a single smell that can be clearly understood and remembered. The current market provides customized choices to allow customers, especially young ones, to design their favorite mixtures, wearing separate or layered fragrances.
In the US, an ongoing trend of zen and slow living has emerged. Customers who partake in this trend pursue simplicity with a high quality of ingredients. Hence, these people would be loyal customers of brands that offer simple single-scent perfume. Accordingly, fine fragrance brands have endeavored to use minimal ingredients and produce a unique aroma.
The four trends mentioned above could become the secret to business success. Wholesaling perfume with fewer and harmless ingredients, providing product labels with a comprehensive list of ingredients, and offering buyers customized scents are the leading trends in the 2023 perfume market. Visit Alibaba.com to explore more business trends that can lead to the success of your online store site.