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Mar 25, 2014, 10:29 ET
NEW YORK, March 25, 2014 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:
Market Focus: Trends and Developments in the Fragrances Sector in the US
http://www.reportlinker.com/p02051355/Market-Focus-Trends-and-Developments-in-the-Fragrances-Sector-in-the-US.html#utm_source=prnewswire&utm_medium=pr&utm_campaign=Fragrance
Product Synopsis
This report provides a concise overview of the Fragrances market in the US. After reading this report, you will understand the size of the market, and the economic, demographic, and behavioral trends that will drive its evolution, and the leading players within the market, allowing you to plan effectively for the future.
Introduction and Landscape
Why was the report written?
This overview of the consumer and market dynamics of the US Fragrances sector allows new entrants and established players to gain rapid and comprehensive insight into the current state of the market and identify the key trends that will drive growth in the coming years.
What is the current market landscape and what is changing?
As the economy continues to recover, higher consumer confidence will be witnessed among high-income consumers who will drive this market, also fuelling the demand for Premium Fragrances. Women consume the most Fragrance products by volume, with older women, those aged 55 and over, being one of the most prominent consumer groups. Heavy consumption of Fragrances is highest amongst Tweens and Early Teens; this is a key segment that the marketers need to sustain.
What are the key drivers behind recent market changes?
A product's success in US Fragrances market will largely be determined by its ability to target consumers' desire to indulge. New Gender Behaviors and Experience seeking are other significant consumer trends driving the US Fragrance market.
What makes this report unique and essential to read?
This report brings together consumer insight and market data to provide a comprehensive brief of the US Fragrances sector. This allows for the rapid identification of key growth opportunities across major Fragrance categories and their packaging.
Key Features and Benefits
Analysis of consumer behavior, economic conditions, and demography reveals emerging opportunities in the Fragrances sector.
Key growth categories are highlighted by analyzing the market dynamics of major Fragrances categories.
Market shares are provided for the leading brands and private labels across Fragrances categories.
An overview of packaging trends in the US' Fragrances sector is provided, including primary packaging material and type, packaging closures, and outer packaging.
Key Market Issues
A desire to indulge is driving the growth of Premium Fragrances in the US. Consumers like to treat themselves with Fragrances and see them as a key part of their gender identities.
Packaging plays a significant role in attracting customers and adding to the luxury aspect of Fragrance brands. Glass is the preferred packaging material for Fragrances due to its visual properties and ability to transform into aesthetic designs.
The experience seeking and aspirational desires of American consumers are also driving the Fragrances market. Consumers lifestyle choices mean they are looking for Fragrances that they believe will meet their aspirational desires and help affirm their status.
Consumer preference to wear premium branded Fragrances limits the penetration of private label Fragrances in the US.
Key Highlights
Marketers are intensively using social media such as Facebook, Twitter, YouTube, and Instagram to create a buzz among consumers before the launch of new Fragrances.
Direct Sales continue to be a key part of the US Fragrances market, with consumers benefiting from product demonstrations, trials, and customized service, which is often not available through alternative retail channels.
Celebrity-branded Fragrances are commonplace in the US and this trend for celebrity Fragrances is forecast to continue strongly.
Marketers can continue to focus on launching unusual and limited edition Fragrances to support the need for new scents.
Country context
- The growing influence of an affluent Millennial population will drive demand in the US
- Health and Beauty growth will be concentrated in national chains
- US consumers choice of buying Fragrances from Department Stores and Heathand Beauty Stores will continue
Consumer Profile
- The largest consumers of Fragrances among women are those in the oldest age group, while for men the largest consumers are aged 45-54
- Heavy Fragrance consumption is most common among Tweens and Early Teens
- Fragrances market is driven by indulgent fragrances and Gender-oriented products
- Desire to smell good and Gender based preferences are the key motivations in US Fragrance market
- Experience seeking and aspirational desires of the consumers plays key role in Fragrances purchases
Sector Analysis
- Female fragrance is the largest category by value while Unisex fragrances is the fastest growing category
- Fragrance market in US will witness steady growth during the 2012-2017
- Male Fragrances will witness a marginal increase in market share
- Female Fragrances is the dominant category in the US Fragrances market
- Unisex fragrances expected to record highest growth during 2012-2017
Brands and Private Labels
- Chanel leads the female fragrances market while Giorgio Armani leads in the male category
- US consumers continue to prefer brands over store brands
- Private label sales of male fragrances is driving category growth
Packaging Insight
- Glass Bottles is the preferred packaging material for Fragrances
- Packaging design key to product differentiation in Fragrances market
Future Outlook- four key trends in the US's Fragrances sector
- US Fragrance sector to witness growth in premium and limited edition fragrances along with the entry of new celebrity product lines
Data Appendix and Summary Methodology
Companies Mentioned
Ralph Lauren Corporation, Coty, Inc., L'Oreal S.A., Chanel S.A., Estée Lauder Inc., Elizabeth Arden, Inc., Avon Products, Inc. ,MäurerandWirtz GmbH and Co. KG ,Christian Dior S.A ,
To order this report: Market Focus: Trends and Developments in the Fragrances Sector in the US
http://www.reportlinker.com/p02051355/Market-Focus-Trends-and-Developments-in-the-Fragrances-Sector-in-the-US.html#utm_source=prnewswire&utm_medium=pr&utm_campaign=Fragrance
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