The Saudi Arabia Market for Perfume (2018-2023): The Market is Projected to Reach $2.5 Billion by 2023 - ResearchAndMarkets.com
Sep. 07, 2018
DUBLIN--(BUSINESS WIRE)--Sep 7, 2018--The "Saudi Arabia Perfume Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023" report has been added to ResearchAndMarkets.com's offering.
The Saudi Arabia perfume market was worth US$ 1.6 Billion in 2017. The market is further projected to reach a value of US$ 2.5 Billion by 2023, at a CAGR of 7.8% over the forecast period.
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
A shift in the preferences of the consumers for natural perfumes over synthetic perfumes has led to the introduction of oud-based perfumes by several western brands. This is further supported by increasing promotional campaigns by the manufacturers.
Technological advancements have helped in the development of devices which assist the consumers in creating personal perfumes by combining several spices, aromas and essential oils. This is expected to bolster the growth of the perfume market in Saudi Arabia in the coming years.
Some of the other factors facilitating the market growth include increasing focus on personal grooming, rising standards of living, growing trend of online retail and increasing penetration of social media.
On the basis of price, the market has been segmented into premium and mass products. Currently, premium products account for the majority of the total market share owing to the greater emphasis on quality and personalization offered by these products.
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.
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 total 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.
Key Topics Covered
2 Scope and Methodology
3 Executive Summary
5 GCC Perfume Market
6 Saudi Arabia Perfume Market
7 Market Breakup by Price
8 Market Breakup by Gender
9 Market Breakup by Product
10 Perfume Manufacturing Process
11 Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/research/7f6xp8/the_saudi_arabia?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20180907005401/en/
Laura Wood, Senior Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
KEYWORD: SAUDI ARABIA MIDDLE EAST
INDUSTRY KEYWORD: RETAIL FASHION
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 09/07/2018 01:03 PM/DISC: 09/07/2018 01:03 PM