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Written by Rahul Singh » Updated on: November 21st, 2024
Saudi Arabia Perfume Market Overview
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Size in 2023: USD 1.8 Billion
Market Forecast in 2032: USD 2.6 Billion
Market Growth Rate: 4.1% (2024-2032)
The Saudi Arabia perfume market size reached USD 1.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 2.6 Billion by 2032, exhibiting a growth rate (CAGR) of 4.1% during 2024-2032. The market is experiencing rapid growth driven by increasing consumer spending, a strong cultural affinity for fragrances, and the presence of renowned international and local perfume brands.
Saudi Arabia Perfume Market Trends:
The market in Saudi Arabia is primarily driven by the strong cultural significance attached to fragrances, especially traditional scents like oud and rose. Moreover, inflating disposable income levels are increasing spending power, leading to higher purchases of luxury and niche perfumes which is providing an impetus to the market. In addition to this, the growing younger population preferring branded and high-quality products is driving the market's expansion.
Besides this, the rising influence of global luxury brands entering the country's market is adding variety and augmenting local interest in premium scents, which is expanding the market reach.
Furthermore, the country's vibrant tourism sector is contributing to perfume sales, as fragrances are popular souvenirs among visitors and are also a significant growth-inducing factor for the market. In line with this, the increasing number of specialized perfume retailers and e-commerce platforms are offering easier access to a wider range of products, facilitating sustained Saudi Arabia perfume market growth.
Saudi Arabia Perfume Market Scope & Growth Analysis:
The scope of the market in Saudi Arabia is significantly expanding due to the integration of personalization in fragrances, enabling consumers to create custom scents tailored to their preferences. In addition to this, increasing social media influence and celebrity endorsements are heightening brand awareness and encouraging more consumers to try new scents, which is enhancing the market scope.
Besides this, the scope of the market is broadened by the rising product diversification with innovative, long-lasting formulations that are appealing to consumers seeking unique fragrances. Furthermore, the growing need for natural and organic ingredients due to health-conscious consumers seeking alternatives to synthetic perfumes is offering extensive opportunities for the market. Additionally, continual advancements in fragrance technology, including enhanced scent longevity and intensity, are positively impacting the market.
As per the market analysis, strategic collaboration between local perfume makers and international brands is creating distinctive product lines catering to both traditional and contemporary tastes are extending the market capabilities. In line with this, the rising online fragrance subscription services are providing consumers with convenient, trial-based options that are broadening the market scope.
Saudi Arabia Perfume Industry Segmentation:
The report has segmented the market into the following categories:
Breakup by Price:
Premium Products accounts for the majority of the market share
Breakup by Gender:
Unisex holds the largest share of the industry
Breakup by Product:
Arabic represents the leading market segment
Regional Insights:
Competitive Landscape:
The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant. Some of the major market players in the Saudi Arabia perfume industry include Abdul Samad Al Qurashi, Ahmed Al Maghribi Perfumes, Ajmal Perfumes, Arabian Oud, Rasasi Perfume Industry LLC, Rashat, Swiss Arabian Perfumes Group. etc.
Key highlights of the Report:
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
Contact Us:
IMARC Group
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Email: [email protected]
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