Off the back of a booming holiday season it comes at no surprise that market researcher Kline predicts a fourth consecutive year of growth in men’s and women’s fragrances in the U.S. Here we take a look at some of the picks from 2013.
While the U.S. women’s fragrance market is forecast to grow at an estimated 2% to reach nearly $2.8 billion at the manufacturers’ level, fragrances for men will likely grow by a slightly higher rate of 3%, ending the year with approximately $1.1 billion in manufacturers’ sales, says Kline.
This has been helped by a number of new launches, celebrity endorsements and scents and the popularity of travel-size products allowing those on tighter budgets the convenience of affordable fragrant luxury.
Additionally, sales of gift sets have continued to contribute to category growth and remain strong for 2013, especially since they offer great value with several products bundled at a price point less than purchasing each product individually.