For fragrance companies, it could be a merry Christmas indeed: the market could be up 5 to 7 percent for the year when factoring in holiday sales, noted Carrie M. Mellage, director of consumer products for Kline Group, the consulting and research firm.
Mellage was speaking at the Fragrance Foundation’s annual State of the Industry lunch, held Thursday at the Harvard Club in Manhattan. “In 2011, fragrance growth exceeded the industry average for the first time in a decade,” she added, noting that fragrance comprises about 9 percent of the overall personal care market, estimated to be about $56 billion for 2011. However, “the U.S. overall beauty market has surpassed prerecession levels, but the fragrance market has not — yet,” she said. Overall U.S. fragrance sales peaked in 2007 at $5.9 billion and dipped to $5.2 billion in 2008, staying flat until this year. Retail fragrance sales are expected to hit $5.5 billion this year in the U.S. Kline attributes the growth to a number of factors, including “frugal fatigue,” interesting new launches and a boom in foreign tourism.
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