The Kuwait perfume market was worth US$ 102 Million in 2017. The market is further projected to reach US$ 180 Million by 2023, at a CAGR of 10% during 2017-2023. Kuwait represents one of the fastest growing perfume markets in the Middle East. As perfumes enhance mood, reduce stress and boost confidence, they form a significant part of the day-to-day lives of Kuwaitis. Moreover, the strong economic growth in the region and a large young population base have augmented the demand for perfumes in Kuwait. In addition to this, high disposable incomes of consumers have led to numerous changes in their perspective and buying patterns, which in turn, is strengthening the sales of perfumes in the region. The rising urban lifestyle and emulation of the Western culture are further prompting consumers to buy luxury goods such as perfumes.
Kuwait Perfume Market Drivers
- Currently, the personal care industry is witnessing a strong growth on account of wider acceptance and willingness by the consumers to invest on self-grooming products. This is fostering the growth of the Kuwait perfume market.
- One of the key trends that has been witnessed in the region is a significant shift towards eco-friendly, alcohol-free and personalised perfumes which can be accredited to the consumer’s negative perspective about synthetic fragrances.
- In order to expand their consumer-base, manufacturers are constantly investing in research and development, and coming up with new product launches which are different in terms of packaging, prices and fragrances.
Premium and Mass Products:
The Kuwait perfume market is classified into premium products and mass products. Premium products incorporate high-end perfume brands which are not widely accessible. On the other hand, the availability of mass products is comparatively higher as these can be purchased from the local market, supermarkets, hypermarkets, etc.
The Kuwait perfume industry is further segregated on the basis of gender which includes male, female and unisex. Male perfumes mostly encompass woody-musk fragrance notes, whereas perfumes which are designed for women primarily contains floral/fruity undertones.
Perfume Type Insights:
On the basis of perfume type, the market has been segmented as Arabic, French and others.
The key player operating in the market along with their profiles has also been provided in the report.
This report provides a deep insight into the Kuwait 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 Kuwait perfume market in any manner.
Key Questions Answered in This Report:
- How has the Kuwait perfume market performed so far and how will it perform in the coming years?
- What are the key gender segments in the Kuwait perfume market?
- Which are the popular types of perfumes in the Kuwait perfume market?
- What is the share of mass and premium products in the Kuwait perfume market?
- What are the various stages in the value chain of the Kuwait perfume market?
- What are the key driving factors and challenges in the Kuwait perfume market?
- What is the structure of the Kuwait perfume market and who are the key players?
- What is the degree of competition in the Kuwait perfume market?
- How is perfume manufactured?