According to the latest report by IMARC Group, titled "Saudi Arabia Perfume Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the Saudi Arabia perfume market size reached US$ 1.9 Billion in 2019. Perfumes refer to combinations of essential oils and aroma compounds that attribute a pleasant aroma to an individual. They are used by both men and women to signify their personal style and individuality and as a feel-good stimulant that can aid in influencing mood, induce relaxation and positively affect perception, emotions and human thoughts. Extracted from various natural sources, such as rose, jasmine, cinnamon, rosemary and sandalwood, which offer a distinctive pleasant smell to the perfume. Numerous parts of a plant, including the bark, flowers, fruits, resins, leaves, seeds and roots are used for the production of perfumes. Apart from this, various animal-based ingredients, such as civet, musk, honey, hyraceum, castoreum and ambergris, also form key ingredients of these fragrances.
Saudi Arabia Perfume Market Trends:
The market is primarily driven by the growing trend of personal grooming among the majority of the population. This, along with a shifting focus toward luxury perfume brands in Saudi Arabia, is significantly driving the market growth. This can be attributed to the improving purchasing power and living standards of the majority of the population. In line with this, the expansion of organized retail, in confluence with the rising government spending to improve the retail infrastructure, has resulted in the establishment of numerous shopping centers and malls in the country offering various international and luxury brands. This is providing a boost to the sales of premium products, including perfumes, in the region. Moreover, the existing inclination toward exotic ouds and fine fragrances in Saudi Arabia is expected to create numerous growth opportunities for new entrants, as well as established international key players. Furthermore, shifting preference for personalized perfumes in the country, which allows customers to create their own perfumes by combining several aromas, spices and essential oils, is projected to create a positive outlook for the market in the coming years. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 2.8 Billion by 2025, growing at a CAGR of 6.7% over the forecast period (2020-2025).
- On the basis of the price, the market has been bifurcated into premium and mass products. Amongst these, the premium segment exhibits a clear dominance in the market.
- Based on gender, unisex perfumes represent the most preferred segment. Other major segments include female and male perfumes.
- On the basis of the products, the market has been divided into Arabic, French and other perfumes. At present, Arabic perfumes account for the majority of the total market share.
- The competitive landscape of the market has been examined in the report with the detailed profiles of the key players operating in the market.
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