The Middle East fragrances market size was valued at $2,852.9 million in 2019, and is projected to reach $4,414.1 million by 2027, registering a CAGR of 7.4% from 2020 to 2027. Over the past couple of years, the traditional mass market fragrance business has witnessed a decline in its sales since the target customers seek for fragrance brands that are more upmarket. This has triggered demand for various perfumes in the Middle East.
These products are easily accessible to its end users in Middle East through various distribution channels such as supermarkets/hypermarket, online stores, pharmacies & drug stores, department stores specialty stores, and beauty salons.
The Middle East fragrances market has witnessed substantial growth in the last few years. This is majorly attributable to the presence of young demography, upsurge in disposable income, and improvement in standard of living. However, the recent outbreak of coronavirus has significantly impacted personal care and cosmetics industries along with all stages of supply chain and value chain. It has further affected the consumer behavior with regards to purchasing cosmetics and perfumes in the Middle East.
With rise in purchasing power, male consumers in the Middle East have become more conscious of perfume products, which leads to the rapid growth of the fragrances market. Moreover, increase in concern toward hygiene is anticipated to create a vital opportunity for the stakeholders. In addition, surge in demand for perfume products in the Middle East is attributed to rise in consciousness of personal well-being and desires to develop, create, and maintain strong identity and self-image. However, over the past couple of years, significant rise has been witnessed in the demand for different types of luxury cosmetic products, including perfumes. Taking the advantage of situation, manufacturers avail their products to be branded and guarantee similar features. However, in reality such products are being marketed and sold by third-party vendors with false claims. This results in loosing customer loyalty and more importantly customer base. Hence, the availability of counterfeit products hampers the growth of the market.
With rise in internet penetration, the number of social media users has increased considerably. Taking this into consideration, most of the key players in the Middle East fragrances market strategize on promoting their products and services on these social media platforms. This is attributed to the fact that social media marketing is one of the major strategies adopted by various companies and industries to increase awareness about their product offerings among target customers on social media channels. Thus, through social media marketing strategy, the Middle East fragrances market sights critical opportunity in gaining traction and increasing its customer reach among its target segments.
According to Middle East fragrances market analysis, the market is studied on the basis of demographics and country. Depending on demographic, the market is categorized into male, female, and unisex. By country, it is segregated into Kingdom of Saudi Arabia, United Arab Emirates, Jordan, Iraq and Rest of Middle East.
On the basis of demographics, the female segment dominated the Middle East fragrances market in 2019, and is expected to continue this trend throughout the Middle East fragrances market forecast period. This is attributed to rise in beauty-conscious females in Middle East who have been taking extra efforts on enhancing their appearance and maintain their well-being. Furthermore, increase in expenditure on cosmetics augments the growth of the overall market. However, the male segment is expected to exhibit significant CAGR in the near future, owing to rise in interest of men in maintaining their physical appearance. Moreover, of availability of variety of men’s fragrances is anticipated to boost the Middle East fragrances market growth.
Country wise, the Kingdom of Saudi Arabia led in terms of the Middle East fragrances market share in 2019, and is expected to retain its dominance during the forecast period. This is attributed to easy availability of Arabian and Western perfume products on online sales channel.
By Country
KSA dominates the Middle East Fragrances market and is expected to retain its dominance throughout the forecast period.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the Middle East fragrances industry segments, current trends, estimations, and dynamics of the market from 2019 to 2027 to identify the prevailing the Middle East fragrances market opportunities.
- The market report provides information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis of the Middle East fragrances market segmentation assists to determine the prevailing opportunities.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the Middle East fragrances market trends, key players, market segments, application areas, and market growth strategies.
Middle East Fragrances Market Report Highlights
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Analyst Review
Innovation is the key for the growth of the Middle East fragrances market, in terms of value sales. Rise in demand for various perfumes products among customers makes way for the manufacturers to come up with herbal or organic fragrances products along with affordable prices and eco-friendly packaging.
Furthermore, increase in consciousness regarding physical appearance among individuals as well as working class professionals has boosted the growth Middle East fragrances market. Moreover, perfume products have witnessed prominent adoption in developing countries of Middle East, owing to improvement in consumer lifestyle, increase in disposable income, and surge in need for perfume products derived from natural extracts. Furthermore, increase in penetration of various online portals in and rise in number of offers or discounts attract large consumer base to purchase perfume products through online channels. In addition, online sales channel has increased the consumer reach, making it the key source of revenue for many companies.
The size of the Middle East fragrances market in 2019 is $2,852.9 million.
The Middle East fragrances market is projected to reach $4,414.1 million by 2027, registering a CAGR of 7.4% from 2020 to 2027.
The Middle East fragrances market is forecasted to grow at a CAGR of 7.4% from 2020 to 2027.
The segments of Middle East fragrances market are demographics and country. Depending on demographic, the market is categorized into male, female, and unisex. By country, it is segregated into Kingdom of Saudi Arabia, United Arab Emirates, Jordan, Iraq and Rest of Middle East.
The base year calculated in the Middle East fragrances market report is 2019.
The Middle East fragrances market top impacting factor are fragrance industry, natural cosmetics industry, brand value and supportive government regulations.
The key trends in the Middle East fragrances market report are increase in online retail, rise in demand for natural and organic perfume products and rise of social media marketing,
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