China fragrance market update 2024

Despite being hampered by the global pandemic, China's personal fragrance market has shown remarkable resilience. It nearly doubled in size from 2017 to 2020 and is projected to reach a staggering $4.73 billion by 2025. A relatively new addition to the contemporary market, fragrance in China actually spans centuries, dating back to the pre-Qin period. Jing Daily’s new report, China Fragrance Market Update 2024, to be released shortly, details the transformative journey of China's personal fragrance market, from its historical roots to its current status as a burgeoning global force. This comprehensive report highlights the market's explosive growth over the past decade, propelled by China's expanding middle class and rising disposable incomes. Featuring insights from executives from Byredo, The Estée Lauder Companies, and other industry leaders, the report is a must-read for anyone interested in understanding the intricate dynamics of China's luxury market and the emerging trends in the fragrance industry. Key to this growth has been a shift in consumer behavior, particularly among younger, globally aware consumers who increasingly demand niche and luxury fragrances. The report reveals how Chinese digital platforms and local Key Opinion Leaders (KOLs) play a key role in shaping consumer preferences, and how brands like L'Artisan Parfumeur leverage digital marketing strategies to reach China's digitally savvy millennials and Gen Zers. The report also delves into the rise of domestic Chinese fragrance brands, which now compete with established international names. By resonating with cultural elements and traditional Chinese philosophies, brands such as To Summer, Wulu, and Documents are rapidly gaining popularity among the younger generation. Additionally, we highlight the strategies employed by global industry giants like Estée Lauder, Puig, and LVMH in navigating the new landscape of China's fragrance market by way of personalized scents and a focus on sustainable luxury. Jing Daily’s China Fragrance Market Update 2024 offers valuable insights into the interplay between culture, consumer behavior, and innovative market strategies in one of the world's most rapidly evolving markets. Pre-order the report now.

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China fragrance market update 2024