Fragrances is set to see a stronger rate of growth over the forecast period than that registered over the review period. Growth will come at the expense of the shrinking deodorants category, which is not expected to return to pre-COVID-19 levels at constant 2022 prices by the end of the forecast period as many consumers gradually shift towards fragrances.
Thanks to expanded brand availability, mass fragrance sets/kits is set to be the fastest growing category within fragrances over the forecast period. Consumers increasingly prefer these product offerings, which often offer bonus features and products that are particularly popular amongst the highest paying consumers - younger consumers (Millennials and Gen Z), as well as young and middle-age working professionals.
E-commerce is set to boost sales of fragrances, particularly premium men’s and mass women’s fragrances, during the forecast period thanks to the competitive prices offered by the newly emerged online retailers selling these products. Competitive pricing is likely to be especially important during the forecast period as the economic recession continues to affect consumer spending power and confidence, and inflationary pressures further squeeze household budgets.
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Understand the latest market trends and future growth opportunities for the Fragrances industry in North Macedonia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
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This is the aggregation of men's, women's and unisex mass and premium fragrances as well as fragrances sets/kits. The distinction between mass market and premium is normally price and label/positioning (mass fragrances rarely carry a designer label) and distribution. Also includes hair fragrances with a primary function of making hair smell good and not to be confused with hair oil and other styling/conditioning products with hair fragrances, whose primary function is to either condition or style over fragrance.See All of Our Definitions
This report originates from Passport, our Fragrances research and analysis database.
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