The Saudi Arabia perfume market was worth US$ 1.73 Billion in 2018. The market is further projected to reach a value of US$ 2.64 Billion by 2024, growing at a CAGR of 7.1% over the forecast period. Perfumes are used by both women and men, and signify the consumer’s personality, style and individuality. They are composed of various sources such as plant (bark, flowers, leaves, fruits, resins, roots, seeds and woods), animal (ambergris, castoreum, civet, hyraceum, honeycomb and musk), natural (lichens and seaweed) and synthetic. Historically, there has been an inclination for exotic ouds and fine perfumes in Saudi Arabia which has attracted numerous international perfume manufacturers to invest in the region. On account of this, Saudi Arabia has established itself as a major hub for the creation of trendsetting perfumes.
Saudi Arabia Perfume Market Drivers
Market Breakup by Price:
On the basis of price, the market has been segmented into premium and mass products. Currently, premium products account for the majority of the market share owing to the greater emphasis on quality and personalization offered by these products.
Market Breakup by Gender:
Based on gender, unisex perfume represents the leading segment, holding the largest market share. Most of the consumers in Saudi Arabia prefer oriental fragrances which are unisex in nature such as sandalwood, musk, oud and amber. Unisex perfume is followed by female and male perfumes.
Market breakup by Product
The market has also been divided on the basis of product type into Arabic, French and others. Amongst these, Arabic perfumes account for the majority of the market share, representing the most popular perfume type. Demand for expensive Arabic perfumes such as bukhur, amber, oud and rose owing to high income levels has been proactive in maintaining the market growth.
The report has also analysed the competitive landscape of the Saudi Arabia perfume market and provides the profiles of the major players.
This report provides a deep insight into the Saudi Arabia 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 industry in any manner.
Key Questions Answered in This Report:
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