How the ‘skinification’ of fragrance is giving rise to formulation innovation

11 months ago 25

Sponsored by Clean Beauty Collective

The fragrance industry is expanding, with many brands reporting double-digit growth in 2023, such as L’Oreal’s Luxe and LVMH’s fragrance divisions. And this growth doesn’t look like it’s slowing anytime soon — fragrance is expected to reach $9.48 billion in the U.S. by 2028, up from $8.72 billion this year.

Driving this push for innovation are several factors: the rise of ‘skinification,’ a desire to know and understand the ingredients of products such as fragrance — driven, in part, by the Modernization of Cosmetics Regulation Act (MoCRA) of 2022 — and Gen Z’s penchant for choosing fragrances based on their mood rather than one signature scent.

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