On August 14, leading Chinese perfume industry pioneer ETERNAL BEAUTY (06883) hosted the "Fragrance Innovation: Market Trends, Opportunities and Future" symposium at the Hong Kong Convention and Exhibition Centre, officially launching the "2025 Hong Kong and Macau Fragrance Market Development Trend White Paper" in partnership with its International Fragrance Association.
According to market data, China's mainland perfume market size (by retail value) increased from 11.4 billion RMB in 2018 to 22.9 billion RMB in 2023, representing a compound annual growth rate of approximately 15%. The market is projected to reach 44 billion RMB by 2028, with an expected compound annual growth rate of about 14%. The global fragrance market maintains steady growth momentum, with consumer demand for fragrance products continuing to rise.
The white paper conducted in-depth research on 790 Hong Kong and Macau consumers, revealing three key market transformations currently underway. The research found that consumer usage habits regarding fragrances in Hong Kong and Macau have undergone significant changes. 81% of respondents have integrated fragrances into their daily lives, representing a 9 percentage point increase from the previous year. 86% of consumers tend to extend their personal fragrance preferences to their living spaces, indicating that fragrances are transitioning from luxury items to emotional and health necessities.
In the commercial sector, 70% of consumers prefer shopping spaces featuring fragrance design. Fragrance applications can extend shopping duration for 58% of consumers and enhance purchase intention for 52%. According to the white paper's research results, fragrances serve as key mediators for promoting physical and mental relaxation (30%), joy and comfort (26.8%), and tranquility (22%), while meeting nearly 18% of consumers' stress and anxiety relief needs, demonstrating the market-leading role of "emotional health."
Against this backdrop, ETERNAL BEAUTY continues to upgrade its dual-track strategy of "local brand matrix" and "Perfume Box retail enhancement," driving the transformation of healthy consumption trends into scalable commercial results.
Ms. Lin Jing, Executive Director and Chief Executive Officer of ETERNAL BEAUTY, stated that the fragrance industry is experiencing a profound transformation from decorative commodities to emotional health solutions. As an industry leader, ETERNAL BEAUTY is committed to driving comprehensive industry upgrades, transitioning from single products to cross-scenario health solution strategies. In the future, ETERNAL BEAUTY will continue to optimize its brand portfolio and deepen omni-channel deployment, fully capitalizing on golden market growth opportunities.
To capture the "emotional health" market opportunity, ETERNAL BEAUTY plans to establish its first fragrance experience flagship store in Hong Kong in 2026 and open a "Perfume Box" flagship store in Shanghai Xintiandi by the end of 2025, creating innovative immersive retail experiences for customers to experience the extraordinary charm of multiple international and niche fragrance brands.
ETERNAL BEAUTY will continue to lead the healthy development of the fragrance market, collaborating with multiple international brands and partners to jointly advance the fragrance industry toward the "new era of emotional health."