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.
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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:
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