North America Perfume Market Impelled by Rising Trend of Personalized Perfumes

According to the latest report by IMARC Group, titled "North America Perfume Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the North America perfume market size reached US$ 7.3 Billion in 2019. Perfumes are prepared by combining essential oils and aroma compounds that attribute a pleasant aroma to an individual. They are used by individuals to signify their personality and individuality. Perfumes are also used as feel-good stimulants that positively influence mood, induce relaxation and affect perception, emotions and thoughts. They are generally obtained from different parts of aromatic plants, such as the bark, leaves, fruits, roots, seeds, resins, flowers and balsams of rose, cinnamon, jasmine and sandalwood trees. Alternatively, they can also be manufactured using animal secretions, including musk, ambergris, castoreum, civet, hyraceum and honeycomb, along with water and alcohol.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

North America Perfume Market Trends:

The market in North America is primarily driven by the growing preference for personal grooming among the masses. Individuals are increasingly spending on beauty and personal care items on account of the sophisticated living standards in the region. There has also been an increasing demand for exotic fragrances, which is acting as a major growth-inducing factor. The market is further driven by the growing adoption of a variety of fragrances as opposed to a single signature scent. Moreover, there has been a rising trend of personalized perfumes, which allow customers to fashion their own combination of fragrances by choosing aromas, spices and essential oils of their preference from a vast assortment of options. This, in confluence with the rising demand for travel size and natural products, is expected to further create a positive outlook for the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 8.6 Billion by 2025, registering a CAGR of 2.8% during 2020-2025.

Market Summary:

• Based on the perfume type, the market has been bifurcated into premium and mass perfume products.
• On the basis of the category, the market has been divided into female, male and unisex fragrances.
• Based on the distribution channel, the market has been classified into supermarkets and hypermarkets, specialty retailers, online stores, and others.
• On the geographical front, the market has been segregated into the United States and Canada.
• The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the industry.

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