The latest report by IMARC Group, titled “Saudi Arabia Perfume Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” finds that the Saudi Arabia Perfume market reached a value of US$ 2.0 Billion in 2020. Perfumes are a mixture of essential oils and aroma compounds, along with alcohol and water, that provides a pleasant smell to the body. They are produced from common natural ingredients such as wood, spices, flowers, grasses, fruits, resins, leaves, roots, balsams, gum, and animal secretion. Perfumes have become an essential part of day-to-day life and also signify the personal style of the individual. In Saudi Arabia, perfumes are preferred as a luxury item with the rising inclination toward ouds and fine fragrances across the Kingdom.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Saudi Arabia Perfume Market Trends:
The Saudi Arabia perfume market is primarily driven by the growing trend of personal grooming. Consumers are readily spending on premium and luxury perfumes due to the high income levels and living standards. Besides this, perfumes have significantly evolved in recent years as a medium of self-expression in the cosmetics and personal care industry. In addition to this, manufacturers are focusing on diversifying product portfolios to expand their consumer base. For instance, Lauder’s Jo Malone stores provide fragrance consultations to shoppers to offer customized products to customers. Moreover, key players are also promoting their products via promotional campaigns on social media and online platforms. Furthermore, consumers nowadays prefer natural products to synthetic ones, resulting in the introduction of natural fragrances that do not contain allergens and toxins in the premium category. On account of these factors, the market is expected to grow at a CAGR of 7.3% during the forecast period (2021-2026).
- Based on the price, the market has been segmented into premium and mass products. Currently, premium products account for the majority of the market.
- On the basis of gender, the market has been classified into male, female, and unisex. Among these, unisex perfume represents the most preferred segment.
- The market has been categorized based on the product into Arabic, French, and others. At present, Arabic perfumes represent the most popular product type.
- The competitive landscape of the market has been examined in the report, with the detailed profiles of some of the key players operative in the industry.
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