March 2022: L'Oréal Groupe, in collaboration with neurotech leader Emotiv, introduces a new device to assist consumers in customizing their fragrance preferences. The collaboration combines an Emotiv neurotech device with L'Oréal's unique smells and algorithms. This collaboration aims to disrupt the whole cosmetics business because it is the first time consumers will have access to a cutting-edge, in-store experience that leverages neuroscience to deliver personalized, precise scent suggestions. To correctly identify and monitor behavior, preferences, stress, and concentration in real-world scenarios, the headset employs machine learning algorithms that analyze EEG while users experience patented scent families.
July 2022: Chanel has released the Gabrielle Chanel Eau de Parfum and Gabrielle Chanel Essence Twist & Spray. The Eau de Parfum is only available online, while the Essence Twist and Spray is available in home markets and select global travel retail outlets. The fragrance Gabrielle Chanel has been updated with more strong floral undertones. It begins with top notes of Orange Blossom, Jasmine, and Ylang-Ylang, followed by intense heart notes of Tuberose and base notes of Vanilla and Sandalwood.
Author Credits: Parul Atri
Report ID: 5376
Published Date: Nov 16, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
Increasing demand for home fragrances, and rising use of deodorants and perfumes are the major factors driving the market growth.
The market size of fragrance & perfume is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2024-2036.
The women segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.
The market in the Asia Pacific region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.