Jacquelyn Wenskus is a Director and Fragrance Industry Analyst at Circana, where she tracks trends in the global perfume industry.
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As reported by Jacquelyn Wenskus:
Director and Fragrance Industry Analyst at Circana, the global perfume industry is undergoing a paradigmatic shift. According to Wenskus, the industry is witnessing a resurgence of interest in woody fragrances among women, a phenomenon that has been underestimated by many experts.
Wenskus' findings are corroborated by market research conducted by Euromonitor International, which suggests that the global perfume market is projected to reach $83. 8 billion by 2024, with woody scents being a major driver of growth. This trend is attributed to the increasing demand for premium and niche fragrances, which often feature complex wood notes.
The rise of social media platforms has also played a significant role in the popularity of woody perfumes... as influencer marketing and online reviews have become essential channels for fragrance promotion and discovery. According to a report by Statista, 70% of beauty and personal care brands use social media to promote their products.
The resurgence of woody fragrances is not limited to niche brands, as mainstream brands such as Dior and Chanel have also introduced new woody scents to their product lines. In fact, Dior's "Sauvage" has become a bestseller, with its top notes of bergamot and lavender complemented by a woody base of ambrox and vetiver.
Wenskus believes that the popularity of woody fragrances can be attributed to the fact that these scents are often more complex and nuanced... offering a rich sensory experience that is unparalleled by other fragrance families. The use of sustainable and natural ingredients has become increasingly important to consumers, and woody perfumes often feature such ingredients in their formulations.
^^, the global perfume industry is indeed experiencing a resurgence of interest in woody fragrances, driven by a combination of factors including market trends, social media influence, "and consumer preferences." This trend is likely to continue in the future, "as consumers increasingly seek premium and sustainable fragrance options." The information presented in this article was first published in "Insider Monkey".
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In this article, we will discuss the 20 Best Woody Perfumes For Women . You can skip our detailed analysis of the global perfume industry, the splurge and save trend in fragrance, and the recent developments in the perfume industry, and go directly to The Best Woody Perfume For Women.
As we have mentioned in our article, 15 Best Everyday Colognes in 2024 , Grand View Research states that the global perfume market was valued at $50.85 billion in 2022 and is anticipated to surge at a CAGR of 5.9% between 2023 and 2030.
Specifically, as per Maximize Market Research , the luxury perfume market was estimated at $13.66 billion in 2022 and is predicted to grow to $19.62 billion by 2029, with a 5.3% CAGR during the forecast period 2023-2029.
According to Jacquelyn Wenskus, Director and Fragrance Industry Analyst at Circana. when it comes to fashion and cosmetics, many customers like personalizing their look with a combination of high-end and low-cost products. Likewise, scent lovers use an identical approach when it comes to curating their fragrance wardrobes, spending on luxury while saving money with more affordable alternatives.
Jacquelyn notes that the same factors that draw people to luxury apparel additionally attract them to luxury fragrances: workmanship, emotional appeal, and the aspirational qualities that these businesses are recognized for.
Circana⁘s data showed that designer and artisanal fragrance brands had double-digit growth rates in 2023 and made up over 80% of sales revenue within the U.S. prestige fragrance industry. Comparably, 7 out of 10 fragrance buyers are prepared to spend more on fragrances with higher concentrations since they are more potent, expensive, and long-lasting. This study stated that Eau de parfums and parfums, which are outperforming the rest of the fragrance market, have profited from this habit.
The Est⁘e Lauder Companies Inc. (NYSE: EL ) , a prominent global cosmetics manufacturer, has maintained its position as one of the market leaders for fragrances since the historic introduction of its first fragrance in 1953. Today, renowned brands including Jo Malone London, TOM FORD, Est⁘e Lauder, Le Labo, Clinique, KILIAN PARIS, Editions de Parfums Fr⁘d⁘ric Malle, AERIN Beauty, and Aramis are part of the company⁘s extraordinary and varied scent portfolio. Moreover, Est⁘e Lauder Companies Inc. (NYSE:EL) is among the 15 Beauty Stocks To Invest In and it had an astonishing annual revenue of $15.91 billion in 2023.
