Puig’s fragrance division saw a drop from 40 per cent growth in 2022 to 17 per cent in 2023, then down to 13.6 per cent in 2024, on a reported basis. Estée Lauder Companies reported a sharp decline in fragrance growth: 30 per cent in 2022, flatlining in 2023 and up 1 per cent in 2024. Coty fared slightly better, with reported growth declining from 18 per cent in 2022 to “low teens” in 2023, before a modest rebound to “mid teens” in 2024. [...] “After years of heightened investment, a slowdown was inevitable,” says [Aishwarya] Rajpara.

— Read more in How beauty should prepare for a fragrance slowdown at Vogue Business.

The US prestige beauty market’s value reached US$33.9bn in 2024.

This was fueled by the fragrance category, which saw sales increase by 12% during the year, according to the data from consumer insights firm Circana.

Sales of prestige fragrances in department and beauty speciality retailers accounted for 28% of total prestige beauty income.

— Read more in US prestige beauty tops $33 billion in 2024 as fragrance drives sales at Cosmetics Business.

The number-one spot, perhaps unsurprisingly, went to Sol de Janeiro, which was previously reported by WWD to be on track to exceed $650 million in sales for 2023. The brand is widely credited for spurring the fragrance mist boom, and has also sparked a number of dupe and look-alike products on the market.

— Read more in Who Were the Buzziest Fragrance Brands on Social Media in 2024? at Women's Wear Daily via Yahoo!Life.

It should also be noted that fragrance is currently the only beauty category where the prestige market consistently dominates the mass market.

This year, according to Circana data through September, year-over-year sales of prestige fragrance increased 14% in dollars and 12% in units. And luxury fragrance sales increased 15%. Fragrance was the fastest-growing beauty category in 2024.

— Read more in The fragrance boom is nowhere near over at Glossy.