news

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

from september 4 to 6, the 2024-2025 yingtong group market conference was held in suzhou, a place where classics and modernity blend together. it also witnessed the grand release of the "flowers have a time, fragrances are more prosperous - 2024 china perfume and fragrance industry white paper" (hereinafter referred to as the "white paper"). the conference was themed "seeing everything, reaching a new realm" and brought together many partners, industry elites and opinion leaders to jointly explore the future development blueprint of the perfume and fragrance field.

(2024 china perfume and fragrance industry white paper release conference)

this year's white paper, based on the rigor, meticulousness and objectivity of previous years, was carefully created by yingtong group, dsm firmenich and market research expert ipsos. in addition, many top experts and brand leaders in the global fragrance field, such as ms. ambra martone, vice president of icr (industrie cosmetiche riunite), a famous italian cosmetics company, ms. lana glazman, head of global consumer insights of dsm firmenich, and mr. roja dove, founder of the well-known perfume brand roja parfums, participated in the writing of the interviews, injecting rich industry insights and professional insights into the white paper. not only does it reveal the latest dynamics and future trends of the perfume and fragrance market through detailed data support and accurate interpretation, but it also deeply analyzes the cutting-edge direction of perfume and fragrance product innovation and the evolution of consumer demand, providing authoritative reference and forward-looking perspectives for the strategic planning and innovative development of china's perfume and fragrance industry.

taking a bird's-eye view, leading the new revolution in the perfume market

the white paper points out that under the complex background of global economic slowdown, the chinese perfume market is like a clear stream, showing great vitality and unlimited potential. as a unique force in the beauty market, perfume not only carries consumers' yearning for a better life, but also plays an important role in emotional expression and self-identity.

(2024 china perfume and fragrance industry white paper)

with the increasing diversification and personalization of consumer demands, the chinese perfume market is undergoing a profound transformation. from consumers who are new to perfume choosing cost-effective fragrance extension categories, to senior users pursuing personalized experiences of high-value niche brands, to the coexistence of international commercial fragrances, niche salon fragrances and domestic brand fragrances, the chinese perfume market is painting a colorful picture. behind this change is the continued favor of the capital market and the continuous emergence of brand innovation. overseas niche brands have entered the chinese market and jointly promoted market prosperity with local brands. at the same time, the linkage of multiple online and offline fields optimizes the consumer shopping journey, making the perfume market present a more healthy and balanced development trend.

the white paper also mentioned that perfume is not only a part of the beauty category, but also a carrier of emotion and culture. at a time when the healing economy is booming, perfume, with its unique aroma and emotional value, provides consumers with deep spiritual satisfaction and emotional sustenance. from fresh floral scents to woody notes, from festive gifts to daily personal use, perfume is being widely integrated into consumers' daily lives, becoming a bridge connecting the past and the future, tradition and modernity.

the white paper believes that the chinese perfume market will continue to move forward in innovation and change, meeting consumers' needs and expectations with more diverse, personalized and emotional products.

many parties discuss and focus on the new form of olfactory economy

(ms. lin jing, ceo of yingtong group)

the conference kicked off with a wonderful speech by ms. lin jing, ceo of yingtong group. she started with the five-year development of the white paper. the 2024 white paper started from the perfume market and extended to fragrance and even more areas of the olfactory economy, interpreting the current market trends and consumer needs that are more diverse, bringing more cutting-edge insights into experience innovation and product innovation to the industry. she said that although china's consumer confidence index has yet to be released, the scale of china's perfume retail market will continue to grow rapidly in the next five years. driven by the demand of chinese consumers to shift from "looking inward" to "cultivating both inside and outside", brands should continue to innovate, establish deeper connections and resonance with consumers, and achieve common growth and development. connect everyone's inner world with the broader and richer society outside, and connect more opportunities.

(mr. chen lei, general manager of new insights business unit of ipsos china)

in the interpretation session of the new white paper, mr. chen lei, general manager of ipsos (china) new insights division, and ms. wang wei, chief operating officer of yingtong group, respectively provided new analyses from multiple aspects, including the changing trends in consumer behavior in the chinese market, the latest status, trends and opportunities of the chinese perfume and fragrance market, and brand linkage across the entire field.

mr. chen lei interpreted the consumer confidence trend in the chinese market in the future. he said: "although there is a confidence differentiation among the current consumer groups, judging from the expectations of different groups for the future, young people of generation z always remain optimistic." "with the continuous evolution of chinese consumer demand, according to ipsos's tracking and research on the chinese consumer demand pyramid over the years, while they continue to pursue value sublimation, they also expect more refined emotional satisfaction. as the scale of chinese perfume and fragrance interest users continues to increase, rational upgrading, emotional healing, fun release, cultural confidence, and inclusiveness are the five core consumer trends that need to be paid attention to in the future. under the trend of diversified consumer behavior, the structure of chinese perfume consumers has been orderly advanced. brands need to more accurately anchor the target population, enhance personalized experience, and pay attention to the spiritual growth of consumers both inside and outside, so as to ultimately achieve the goal of increasing market penetration.

(ms. wang wei, chief operating officer of yingtong group)

ms. wang wei, chief operating officer of yingtong group, gave an in-depth interpretation of the changes in china's perfume and fragrance market and the boundless experience of all-domain consumption. in terms of the way out under the market changes, she emphasized the importance of the healthy development of online and offline dual-wheel drive. she said: "the global capital market continues to increase its investment in the perfume and fragrance track. china is one of the important markets. in recent years, it has maintained extensive penetration in multiple fields such as channels, products, and consumers. facing more diverse fragrance use scenarios, brands actively expand the category matrix and create consumption scenarios for exquisite life, which is the second growth curve driving the perfume and fragrance track. in the part of the boundless experience of all-domain consumption, she emphasized the win-win connection. on the one hand, through the slow-playing content with style, professional and interesting ba online services, and the precise operation of one party's crowd assets, it will bring new development opportunities for the brand's all-domain linkage; on the other hand, in the tide of the return of the experience economy in various fields, the "fragrance" community is established by making friends with fragrance, combining local culture to create cultural tourism research, deeply integrating art, culture, etc. to link more fields to establish a new consumer journey for the purchase experience.

(mr. olivier viejo, vice president of advanced fragrance, asia pacific, dsm firmenich)

as an international flavor and fragrance giant with a history of more than 100 years, dsm-firmenich attended the conference as a co-publisher of the white paper for the first time. olivier viejo, senior vice president of fragrance in asia pacific, said: "we are very happy to continue to cooperate with yingtong group on various projects, especially the white paper project. on the basis of last year's success, we have taken a step further this year. we are very honored to be a co-creator of the white paper and participate in the writing of the content in depth, and jointly contribute our professional insights on products to the development of china's perfume and fragrance industry." "chinese consumers are increasingly preferring fragrance, but they also have more complex personalized needs. with the continuous penetration of the market, they break the boundaries of gender and age and gradually develop the habit of expressing their own personality with perfume; they not only soothe their emotions through fragrance, but also seek deeper culture and demonstrate diverse consumption concepts, so as to resonate more with brands."

experts gather to gain insights into new industry growth trends

at the end of the conference, guests and media representatives had a wonderful interactive exchange on hot issues in the perfume and fragrance industry, and shared their views on new possibilities for the future development of the industry.

(question and answer session at the press conference for the "white paper on china's perfume and fragrance industry in 2024")

ms. lin jing answered questions about the future trend of the domestic perfume market under the background of the continuous fluctuation of the consumer confidence index. she pointed out that china's consumer index is still at a relatively high level compared with traditional developed countries in asia and europe, but the phenomenon of consumer differentiation is also objectively existing - some consumers spend more rationally, while others pursue more product added value and consumer experience. under the current market situation of "wanting both, wanting more and more", yingtong, as a brand management group, will continue to pay attention to the dynamic balance of consumers' "internal and external cultivation" and lead brands to crack the current diversified market demand.

ms. wang wei talked about her views on the changes in the chinese perfume market. she believes that whether online or offline, single-channel brand operations can no longer meet the diversified experience needs of current consumers. integrating perfume and linking more fields to build a borderless experience for consumers will be the core proposition of the industry in the next few years. therefore, we need to pay close attention to the field changes brought about by the return of the "experience economy".

mr. chen lei shared his views on the current changes in chinese consumer demand. he said that today's consumers are increasingly paying attention to the balance of "both inside and outside". brands need to seize the current trend in marketing communication and combine trend symbols, products and consumers to further impress consumers. at the same time, only those brands and channels that are always aware of changes in consumer psychology and embrace changes will be able to succeed.

mr. olivier answered the question of how to innovate perfume products to satisfy a wider range of consumer groups. he pointed out that consumers now have higher and higher requirements for perfumes - they hope that perfumes can add more value, not only limited to preferences for fragrance and fragrance duration, but also hope to have more emotional value and skin health. therefore, brands need to make continuous and large investments in scientific research and consumer research, and then lead the market with innovative perfume technology and raw material ingredients based on a deep understanding of consumer needs.

go hand in hand to open up a new blue ocean of perfume and fragrance

the white paper launch event brought together industry elites, close business partners, authoritative media representatives and senior perfume connoisseurs from around the world. more than 800 distinguished guests attended the event in person, and the online live broadcast attracted nearly 7,000 viewers. this grand event demonstrated that the perfume and fragrance industry is attracting widespread attention from all walks of life with unprecedented enthusiasm.

（site of the press conference for the "white paper on china's perfume and fragrance industry in 2024")

as a leader in omni-channel brand management for chinese beauty products, yingtong group has assumed the responsibility of leading the development of china's perfume industry since 2020. its annual "china perfume industry research white paper" has become a benchmark in the industry. this year, the release of the white paper not only continues the previous accurate grasp and in-depth analysis of the dynamics of the perfume industry, but also uses authoritative data as a cornerstone to extend the industry perspective to fragrance and even more areas of the olfactory economy, interpreting the current market trends and more diverse consumer needs, bringing more cutting-edge insights into experience innovation and product innovation, and providing valuable insights and guidance for the innovation and upgrading of the entire industry.

the conference not only demonstrated the vigorous vitality and huge growth potential of the chinese perfume and fragrance market in recent years, but also deeply analyzed the increasingly diversified changes in consumer demand and taste upgrades. this indicates that the chinese perfume and fragrance market will continue to maintain its strong growth momentum in the future, showing unlimited business potential and development opportunities.

yingtong group took this opportunity to once again express its vision of working hand in hand with colleagues in the industry to create brilliance together. it looks forward to jointly pushing the chinese perfume and fragrance market into a more prosperous and attractive new stage through unremitting efforts, and jointly creating a new olfactory economic ecosystem full of infinite imagination and possibilities.