The fragrance and perfume market is estimated to grow 5.8% to $19.48 billion by 2028, according to research from Technavio. 
 
The fragrance and perfume market is fragmented owing to the presence of many global and regional companies. A few prominent names that offer innovative scents are in Happi’s Top 30 and Top 50 companies.
 

Impactful Driver for Fragrance

The fragrance and perfume market is expected to witness growth driven significantly by the rising impact of social media. Platforms amplify brand visibility and consumer engagement, creating an insatiable demand for diverse scents.
 
Aromatics, essential oils and various concentrations like eau de parfum, eau de toilette and eau de cologne cater to distinct preferences. Perfume oils and the artful composition of top notes, middle notes and base notes further boost this thriving market landscape.

Key Scent Trends

The fragrance and perfume market's emerging trend is fueled by the escalating desire for natural and sustainable ingredients, found the report. This shift caters to the preferences of perfume enthusiasts seeking niche fragrances or designer fragrances. It influences perfume manufacturing, emphasizing the use of fragrance oils and specific fragrance chemistry to create captivating fragrance notes.

The fragrance concentration continues to evolve, reflecting changing consumer tastes and ongoing fragrance trends.