China Perfume Market to Hit 440 Billion Yuan by 2028

China's perfume market is projected to grow to 440 billion yuan by 2028, with a compound annual growth rate of 14%, far exceeding the global average of 3.5%, according to Frost & Sullivan. International beauty groups are actively investing in the sector: Estee Lauder's fragrance sales hit $2.779 billion in fiscal 2026, up 12% year-on-year, while L'Oréal acquired Creed and invested in Chinese brands like 观夏 and melt season. 中国香水市场预计2028年增至440亿元，东方香趋势加速 据弗若斯特沙利文数据，中国香水市场规模预计2028年增至440亿元，复合年增长率约14%，远超全球3.5%的平均增速。雅诗兰黛2026财年香水业务销售额27.79亿美元，同比增长12%；欧莱雅收购Creed并投资观夏、melt season等本土香氛品牌。2026上半年国内香水及花露水出口额达25.02亿元，同比增长31.05%。