Whilst the fragrance category has continued to show dynamism and growth in the past year, the number of new concept launches has stagnated, with growth instead coming from existing lines extensions and flanker brands, says market trends firm Circana.
UK beauty consumers pared down skin care routines last year, adopting minimalist, back-to-basics approaches that led to a decline in overall prestige product sales, according to the NPD Group.
Luxury cosmetic and fragrance markets in the UK, France and Germany have all shown signs of recovery thanks to growth in e-commerce, particularly in prestige perfumes and skin care, finds The NPD Group.
Latest research shows that there has been a significant rise
in the market for premium facial care products in China as the
country's booming economy continues to fuel consumer spend.
The prestige beauty market continues to out-perform an otherwise
flat market as US consumers rush to treat themselves to expensive
anti-aging creams and metallic effect color make-up.
A new trend has emerged for racy brand named cosmetics with many
manufacturers opting to give 'sexy' names to their beauty products
in order to entice the more daring female consumer.
Leading consumer and retail information company, NPD Group, has
released the 2006 annual holiday survey showing a 2 per cent
increase in intended fragrance sales for 2006, as traditional gifts
come back into fashion.
![Fragrance brands are today focusing on line extensions and flanker brands versus organic new product concepts [Getty Images]](/var/wrbm_gb_food_pharma/storage/images/_aliases/news_teaser_medium/publications/cosmetics/cosmeticsdesign-europe.com/article/2023/04/06/fragrance-innovation-in-2022-slows-with-focus-on-premiumisation-formulation-changes-and-flankers-says-circana/16315660-1-eng-GB/Fragrance-innovation-in-2022-slows-with-focus-on-premiumisation-formulation-changes-and-flankers-says-Circana.jpg)
