March 2022: L'Oréal Groupe, in collaboration with neurotech leader Emotiv, introduces a new device to assist consumers in customizing their fragrance preferences. The collaboration combines an Emotiv neurotech device with L'Oréal's unique smells and algorithms. This collaboration aims to disrupt the whole cosmetics business because it is the first time consumers will have access to a cutting-edge, in-store experience that leverages neuroscience to deliver personalized, precise scent suggestions. To correctly identify and monitor behavior, preferences, stress, and concentration in real-world scenarios, the headset employs machine learning algorithms that analyze EEG while users experience patented scent families.
July 2022: Chanel has released the Gabrielle Chanel Eau de Parfum and Gabrielle Chanel Essence Twist & Spray. The Eau de Parfum is only available online, while the Essence Twist and Spray is available in home markets and select global travel retail outlets. The fragrance Gabrielle Chanel has been updated with more strong floral undertones. It begins with top notes of Orange Blossom, Jasmine, and Ylang-Ylang, followed by intense heart notes of Tuberose and base notes of Vanilla and Sandalwood.
Author Credits: Parul Atri
Report ID: 5376
Published Date: Oct 09, 2024
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
In the year 2025, the industry size of fragrance & perfume is estimated at USD 54.55 billion.
The fragrance & perfume market size was valued at USD 52.49 billion in 2024 and is anticipated to cross USD 97.76 billion by the end of 2037, registering more than 4.9% CAGR during the forecast period i.e., between 2025-2037. Increasing demand for home fragrances, and rising use of deodorants and perfumes will drive the market growth.
Asia Pacific industry is expected to dominate majority revenue share 36% by 2037, due to rising demand for perfumes and essential oils in the region.