The GCC perfume market was worth more than US$ 2.2 Billion in 2017. The market is further projected to reach a value of nearly US$ 3.7 Billion by 2023, at a CAGR of approximately 8.9% during 2018-2023. Perfume is a fragrant liquid which is prepared by combining water, alcohol, aroma compounds, essential oils, solvents and fixatives. Perfumes are formulated on the basis of different scent families such as green, oriental, musk, floral, woody, amber, herbaceous, etc. As compared to earlier, perfumes have, nowadays, become a necessity and are used on a daily basis. They help in improving the overall personality of a person by offering a pleasant scent to the human body. As a result, perfumes have gained immense traction in the GCC region.
GCC Perfume Market Drivers
Market Breakup by Price:
Premium products currently represent the largest category of perfumes in the GCC region. These products are followed by mass products.
Market Breakup by Gender:
The perfume market in the GCC region has been segmented on the basis of categories which include unisex, female and male. Currently, unisex represents the most popular category.
Market Breakup by Product
Based on the product type, the market has been segregated into Arabic and French perfumes. Arabic perfumes dominate the market, holding the majority of the market share.
Market Breakup by Region
On a geographical front, Saudi Arabia enjoys the leading position in the GCC perfume market. Some of the other major markets include UAE and Kuwait.
The perfume market is fragmented in nature with the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:
This report provides a deep insight into the GCC perfume market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the perfume market in any manner.
Key Questions Answered in This Report:
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