Saudi Arabia Perfume Market Research Report, 2027

Saudi Arabia Perfume Market Research Report, 2027

Actual Market Research 30-11-2022 60 Pages Figures : 7 Tables : 20 Region : MEA Country : Saudi Arabia Category : Consumer Goods & Services Beauty & Personal Care

Historically, Saudi Arabia has favored exotic ouds and fine perfumes, which has led many international perfume makers to invest in the region. For this reason, Saudi Arabia has established itself as a key hub for creating future-oriented perfumes. Perfume is an integral part of men's and women's grooming here and is also an indicator of cleanliness and good taste. Perfumes worn by both men and women represent the consumer's individuality, style, and individuality. They include botanical (bark, flowers, leaves, fruits, resins, roots, seeds, wood), animal (ambergris, castoreum, civet, hyraceum, honeycomb, musk), natural (lichens and algae), synthetic, etc. composed of diverse sources. According to Research Report “Saudi Arabia Perfume Market Research Report, 2027” published by Actual Market Research, the market is expected to add USD 0.42 Billion by 2027. The Saudi Arabia perfume market is gaining momentum due to rising personal care trends and growing demand for exotic scents for young people. Moreover, product diversification by manufacturers is attracting more consumer segments. Apart from that, rising consumer spending on luxury fragrances due to rising income levels and rising living standards continues to boost perfume sales. Other major factors propelling the demand for perfumes worldwide are rapid urbanization, increasing population and aggressive advertising by the manufacturers. However, the availability of counterfeit goods is one of the biggest challenges for the market. The population of Saudi Arabia was 35,340,680 in 2021, of which 20,437,084 were male and 14,903,596 were female. Of the total population, 8,671,039 are under the age of 14. The population with an age range of 20 - 40 is 12,188,458. The urban population is 29,799,824 and the rural population is 5,462,868. The GDP of Saudi Arabia is estimated to be USD 1.5 trillion, the inflation rate is 3.1%, and per capita income is $47,700 (2020).In Saudi Arabia, luxury goods will account for an estimated 80% of sales in 2021. This is because Saudi Arabia has one of the fastest-growing economies in the world due to its high personal income levels, strong oil and gas industries, and banking sector. As a result, sales of luxury goods increased. The country has also experienced significant population growth, and young people are now the strongest drivers of the growing demand for luxury fragrance products. Based on End User, Women segment leads the market as women populations are inclined towards sustainable fragrances for their personal grooming purposes. Women appreciate fragrance as an important pillar of their personal identity. Fragrances are becoming more popular among women as the female workforce increases. Fragrances are popular among women and are one of her most important and attractive personal care accessories. Some women like mild scents, while others like strong scents. Women choose different types of scents for work, home, social occasions, etc. Men segment is expected to grow at faster rate during forecast period due to increasing personal hygiene & grooming awareness among men. Men fragrances are stronger and more aromatic in nature, which, in turn, may increase the product’s adoption. Men are also becoming more and more interested in scented items. Scent boosts self-esteem and has a positive effect on overall perception. Some men wear perfume to groom themselves, while others wear it just to give off a pleasant scent. The demand for fragrances is increasing due to the changing perception of fragrances as an important part of grooming for adult men. Based on Distribution Channel, Offline segment leads the market which includes hypermarket/ Supermarkets, Convenience Stores, Specialty Stores, etc. The biggest hypermarkets and supermarkets in the Saudi Arabia are Lulu Hypermarket, Panda Supermarket, Al Jazira, Farm, Danube, Carrefour, and Othaim Supermarkets. The market's growth is expected to accelerate over the next decade with the growth of the e-commerce sector. The Internet has greatly contributed to increasing consumer awareness of fragrance products. Saudi Arabia has the most active social media users in the region on multiple platforms such as Instagram, Facebook, Snapchat, and Twitter. Many beauty product start-ups are gaining popularity through social media by promoting their products on these platforms. In addition, major players are also using these platforms to sell their newly launched products. Based on Product type, Eau De Parfum is one of the leading segments in the market as it has highest level of fragrance concentrations and includes a huge percentage of essential oils as compared to other types. Parfum is expected to be fastest growing during forecast period owing to its higher concentration and longevity of fragrance scent. On the basis of Product, Premium segment is leading the market due to personalization, product differentiation and quality and increasing demand for handcrafted and exclusive products. Mass products segment is expected to grow at faster rate during forecast period due to increasing production which results to increasing demand. Based on Nature Type, Synthetic Perfume leads the market due to increased production and consumption among people. Natural Perfume is expected to grow at significant rate during forecast period due to increasing awareness about use of organic products to avoid skin related problems or allergies. Abdul Samad Al Qureshi, Al Majid 4Oud Company, Arabian Oud, Bath & Body Works Direct Inc., Candle-Lite Company LLC, Christian Dior SE, Johnson & Johnson, Rasasi Perfumes Industry LLC, The Procter & Gamble Company, Unilever Group, Victoria’s Secret & Co. are some of the prominent companies in Saudi Arabia Perfume Market. Recent Developments: • In January 2021, Old Spice unveiled three new fragrances, aloe-infused products, and clinical deodorants. It also launched a campaign, “Smell ready for anything”, which features the new deodorant, antiperspirant, and body wash offerings. • In February 2021, Ajmal launched its latest fragrance Aristocrat Platinum eau de parfum, embodying the memories and success garnered over the last 70 years. • In September 2019, Hindustan Unilever Limited announced the launch of its new body care product, ‘Love, Beauty, and Planet’, to drive and support the sustainable beauty movement across the Middle East. Covid-19 Impact: The COVID-19 pandemic has adversely affected the Saudi Arabian fragrance market by leading to nationwide lockdowns. This has forced factories that make perfume to close, people to stay indoors, and gyms and retail stores to close. Therefore, in 2020, demand as well as supply of fragrances within the Kingdom declined. Considered in this report • Geography: Saudi Arabia • Historic year: 2016 • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • Saudi Arabia Perfume market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Product Type • Eau De Parfum • Eau De Toilette • Eau De Cologne • Eau Fraiche • Parfum • Others By End User • Men • Women • Others By Ingredient Type • Natural • Synthetic By Product • Premium • Mass By Distribution Channel • Online • Offline The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Perfume industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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