China’s retail fragrance market will grow faster

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What’s driving this optimistic outlook? Firstly, the per capita spending on perfumes in China is still significantly lower compared to that in more developed markets, signaling room for substantial growth. The current spend is set to nearly double from 16 yuan per person in 2023 to 31 yuan by 2028. This is still far below the spend in markets like the US and UK, underscoring the untapped potential in the Chinese market. source

Industry insights from Euromonitor International also support this estonia telegram number bullish outlook, forecasting that than its global counterparts, from $2.38 billion in 2024 to $3.67 billion in 2028. Zhu Yanrui, a senior research analyst at Euromonitor, noted that China’s market is still in its early stages with lower per capita consumption and smaller overall market size, which means there’s a higher ceiling for growth.


Brands are recognizing these opportunities. The landscape is becoming increasingly competitive with new players entering the market and established brands doubling down on their strategies to tap into Chinese consumer preferences, which include a deeper connection to brand and emotional value.


Looking ahead, the forecasts a shift in how fragrances are perceived—from luxury items to everyday essentials across personal care and household products. This shift is expected to catalyze rapid structural growth in the market.