The global fragrance market is experiencing a significant evolution with estimated growth of over 11% in 2024 and a CAGR of 9.9% over the last four years (source: L’Oréal Corporate Intelligence – BMS 2024). This expansion reflects profound shifts in consumer behavior, as fragrance evolves beyond traditional perfumery.
At this year's BOLD Forum, Sophie Sandjian (Prospective Fragrances & Scents Director at L'Oréal) and Emily Bullman (Consumer VC Investor at Jamjar Investments) discussed this market transformation.
The shift is clear: fragrance is moving from ornamental to fundamental. This evolution is driven by significant advances in creation processes and green science formulations, responding to growing consumer demand for sustainable and wellness-oriented products. From AI-powered scent development to biotechnology, innovation is redefining how fragrances are created and experienced.
The future of fragrance extends beyond traditional perfumery - it's becoming central to self-care routines, emotional wellbeing, and sustainable beauty practices. This fundamental change is reshaping the entire industry.
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