
Created Date: 06 Dec
The 'olfactory economy' is flourishing, and this market is really 'fragrant'!
In this era of China-Chic and health care, Chinese fragrance has become the "favorite" of many people with its unique sensory experience and cultural charm. Not long ago, the entry # Chinese Fragrance Explosion # made it to the hot search list, becoming a lifestyle trend among young people nowadays. As an emerging consumer trend, the "olfactory economy" is becoming a hot topic and gradually demonstrating its enormous market potential and commercial value.
According to the "2017-2025 Market Size and Forecast of China's Aromatherapy Industry" released by iMedia Consulting, the market size of China's aromatherapy industry will be about 18.15 billion yuan in 2023, a year-on-year increase of 24.25%, and is expected to increase to 25.44 billion yuan in 2025. This growth data indicates a strong demand for Chinese aromatherapy among domestic consumers, coupled with the influence of the "self pleasing economy". Young customers, mainly students and white-collar workers, have become the main consumers in the fragrance market. They are more willing to pay for their preferences and interests, which is precisely an important factor in the rapid rise of the "smell economy".