Following a challenging period of declining figures due to the economic recession, the USA fragrance market is well back on the path of recovery and healthy growth, which is mainly driven by improved consumer confidence, increased product launches and strong performance in many of the retail channels. Indeed, market studies anticipate that both the women’s and the men’s segments of the American fragrance market will be recording growth through 2017.
In the women’s segment of the market the growth is driven mainly by celebrity and fashion house fragrances which continue to remain hugely popular mainly though more unique positioning such as destination-based fragrances, which are indicative of the increased innovation in the category. The men’s segment also boasts healthy growth, especially for important market players such as the brands of Axe and Old Spice and for items like body sprays.
Indeed the entire spectrum fragrance industry globally, but more specifically in the US as well, can look forward to exciting times ahead due to a number of numbers which inter alia include the increased trend of product innovation and the synergies that are being created between the health and the fragrance product categories, which result in products with added benefits like mood boosting and anti-aging, which prove extremely popular with consumers.
The sales of fragrances are expected to grow to new, unprecedented heights in the years to come thanks to increased global market penetration of perfumes and fragrances and also geared by lots of new product launches. Interestingly enough, in the US, the men’s market segment is expected to grow at a slightly faster pace than the women’s segment, perhaps because the latter is already extremely successful.
It is also interesting to note that certain product types are more popular than others and appear to act as market drivers. Such examples are celebrity scents, which are mainly targeted at younger consumers and which have come in abundance over the recent years due to their massive popularity. Another successful category is that of travel-size products, mainly in the forms of rollerballs and spray pens for women as well as coffrets for both sexes. Such products sell very well not least because they allow those on tighter budgets the convenience of affordable fragrant luxury. Additionally, the increased sales of gift sets also contribute to the growth of the US fragrance market, mostly because they offer great value with several products bundled at a price point less than purchasing each product individually.
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