DUBLIN--(BUSINESS WIRE)--The "Saudi Arabia Perfume Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.
The Saudi Arabia perfume market was worth US$ 1.73 Billion in 2018. The market is further projected to reach a value of US$ 2.64 Billion by 2024, growing at a CAGR of 7.1% over the forecast period.
Perfumes are used by both women and men, and signify the consumer's personality, style and individuality. They are composed of various sources such as plant (bark, flowers, leaves, fruits, resins, roots, seeds and woods), animal (ambergris, castoreum, civet, hyraceum, honeycomb and musk), natural (lichens and seaweed) and synthetic. 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.
Market Breakup by Price:
On the basis of price, the market has been segmented into premium and mass products. Currently, premium products account for the majority of the market share owing to the greater emphasis on quality and personalization offered by these products.
Market Breakup by Gender:
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.
Market breakup by Product
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 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.
The report has also analysed the competitive landscape of the Saudi Arabia perfume market and provides the profiles of the major players.
Key Questions Answered in This Report:
- How has the Saudi Arabia perfume market performed so far and how will it perform in the coming years?
- What are the major gender segments in the Saudi Arabia perfume market?
- What are the key product types in the Saudi Arabia perfume market?
- What has been the performance of the premium segment versus the mass segment?
- What are the various stages in the value chain of the Saudi Arabia perfume market?
- What are the key driving factors and challenges in the Saudi Arabia perfume market?
- What is the structure of the Saudi Arabia perfume market and who are the key players?
- What is the degree of competition in the Saudi Arabia perfume market?
- How is perfume manufactured?
Key Topics Covered:
2 Scope and Methodology
2.1 Objectives of the Study
2.3 Data Sources
2.4 Market Estimation
2.5 Forecasting Methodology
3 Executive Summary
4.2 Key Industry Trends
5 GCC Perfume Market
5.1 Market Overview
5.2 Market Performance
5.3 Market Breakup by Price
5.4 Market Breakup by Gender
5.5 Market Breakup by Perfume Type
5.6 Market Breakup by Region
5.7 Market Forecast
6 Saudi Arabia Perfume Market
6.1 Market Overview
6.2 Market Performance
6.3 Market Breakup by Price
6.4 Market Breakup by Gender
6.5 Market Breakup by Perfume Type
6.6 Market Forecast
6.7 SWOT Analysis
6.8 Value Chain Analysis
6.8.2 Research and Development
6.8.3 Raw Material Procurement
6.9 Porters Five Forces Analysis
6.10 Price Analysis
6.10.1 Key Price Indicators
6.10.2 Price Structure
7 Market Breakup by Price
7.1 Premium Products
7.2 Mass Products
8 Market Breakup by Gender
9 Market Breakup by Product
10 Perfume Manufacturing Process
10.1 Product Overview
10.2 Raw Material Requirements
10.3 Manufacturing Process
10.4 Key Success and Risk Factors
11 Competitive Landscape
11.1 Market Structure
11.2 Key Players
11.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/a5qx90