Saudi Arabia Perfume Market Size And Forecast Report 2024-2032

• Posted by Renub Research Nov 2 Filed in Business #Saudi Arabia Perfume Market  12 views
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  Saudi Arabia Perfume Market Analysis: Trends and Growth Forecast

  The Saudi Arabia perfume market is flourishing, projected to reach $3,374.72 million by 2032, with a compound annual growth rate (CAGR) of 5.95% from 2024 to 2032. In 2023, the market was valued at $2,005.99 million. Renowned for their unique and luxurious scents derived from oud, musk, and rose, Saudi Arabian perfumes are increasingly recognized globally. With the rise of social media and online shopping, these perfumes are gaining even more accessibility and appeal worldwide. Saudi Arabian perfumes now represent a vital component of the luxury fragrance market, further boosted by celebrity endorsements and high-profile brand collaborations.

  Key Market Trends in Saudi Arabia Perfume Market

  1. Tourism Driving Demand The thriving tourism industry is contributing significantly to perfume sales. Saudi Arabia welcomed over 100 million tourists in 2023, including 27 million international visitors and over 79 million domestic travelers. Traditional Arabian fragrances attract tourists, while the local market’s embrace of global perfume brands fosters innovation and diversification.

  2. Growing Population and Disposable Income Saudi Arabia’s population reached over 37 million in March 2024, creating a robust consumer base for the perfume market. High disposable income levels have boosted demand for premium and luxury perfumes, as personal grooming and self-care continue to rise in popularity.

  3. Influence of Social Media and Digital Engagement With one of the highest rates of social media engagement globally, Saudi Arabia has seen a surge in consumer awareness of fragrances. In January 2023, there were 29.1 million active social media users, accounting for 79.3% of the population. Social media influencers have become key players in marketing perfumes, with prominent figures like Sara Murad launching personal fragrance lines, thus further boosting market interest.

  4. Rise of Eau de Parfum (EDP) The Eau de Parfum (EDP) category is expected to lead the market due to its lasting scent and high perfume concentration. EDP’s luxurious experience aligns with the preferences of Saudi consumers, making it a sought-after choice in the perfume market.

  5. Women as Leading Consumers Cultural norms position women as primary consumers in the perfume market, with fragrances playing an essential role in personal grooming and self-expression. Increasing emphasis on self-expression and luxury further drives perfume demand among women in Saudi Arabia.

  Notable Company News in the Saudi Arabia Perfume Industry

  Leading companies like Abdul Samad Al Qurashi, Ahmed Al Maghribi Perfumes, and Arabian Oud dominate the Saudi Arabian perfume landscape. Recent developments include:

  • Swiss Arabian Perfumes Group launched its "Cities" collection in June 2023, blending luxury with unique sensory experiences.
  • Jadwa Investment acquired a 35% stake in Gissah Perfumes Company in August 2023, marking a significant investment in one of the Gulf region's fast-growing fragrance brands.
  • Floward, an online platform, expanded into the perfume sector by acquiring Mubkhar in November 2022, adding fragrances, oils, and essences to its offerings across Saudi Arabia, Qatar, and Bahrain.

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  Market Segmentation

  The Saudi Arabia perfume market segments by type, value, and gender:

  • Type: Eau de Parfum, Eau de Toilette, Eau de Cologne, and Eau Fraiche.
  • Value: Luxury and mass-market categories.
  • Gender: Male, female, and unisex options.

  Leading Companies in the Saudi Arabia Perfume Market

  1. Abdul Samad Al Qurashi
  2. Ahmed Al Maghribi Perfumes
  3. Ajmal Perfumes
  4. Arabian Oud
  5. Rasasi Perfume Industry LLC
  6. Rashat
  7. Swiss Arabian Perfumes Group
  8. The Fragrance Kitchen (TFK)

   

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