02 Jul 2024 --- The fine fragrance market is no longer only about scent. Personal Care Insights talks to International Flavors & Fragrances about how the fragrance industry has moved beyond a focus on scent and is shifting toward mood-based innovations. We also look at consumer data showing a willingness to splurge on luxury perfumes. Recent research indicates that shoppers are still buying luxury fragrances amid persistent inflationary pressures. Innova Market Insights data suggests that the launches of fine fragrances are increasing globally, featuring a +23% year-over-year growth from April 2022 to March 2024. In that period, Fragrances for Women was the top subcategory in fragrance NPD, accounting for 54% of the launches.
