The growth of sales in the perfume and cosmetic industry in 2017 was among the highest in recent years. The greatest increase in turnover came in fragrances, 5.42% up on the previous year, according to data from the National Perfumery and Cosmetics Association. Figures grew from 1,245.42 million Euros in 2016 to 1,312.92 million Euros one year later. Although the results for 2018 are not yet available, the forecasts point to sustained growth.
The latest data available, dating from 2017, indicate that perfumes accounted for 18.8% of industry-wide sales, second only to skincare and personal hygiene products. Men’s perfumes notched up the highest growth, although they are still well behind sales figures for women. More specifically, consumption increased by 7% – versus 5.42% for perfumes overall – and by 12% in terms of number of units.
The barometer of the perfume and cosmetic industry produced by Beauty Cluster Barcelona indicates that 84% of companies increased their sales in 2017. 77% of the total increased sales by more than 10%, whereas a quarter of all companies had an increase of more than 20%.
The luxury market
The luxury perfume and cosmetic market is also booming. According to the annual EY report, in 2017 it reached the worldwide figure of 51,000 million Euros, a figure that has never stopped growing since 2009, when it stood at 34,000 million Euros. According to EY’s forecast, in 2021 revenue from luxury perfumes and cosmetics will rise to 61,000 million Euros. The main product innovations in 2017 were in fragrances and packaging.
