Saudi Arabia Perfume and Fragrances Market

Saudi Arabia Perfume and Fragrances Market Size Set to Grow at Steady CAGR of 6.38% to Cross USD 2.8 Billion By 2029

Published | 28 September 2023

Saudi Arabia perfume and fragrances market is flourishing due to the expanding affluent consumer base, cultural significance of fragrances, expanding tourism sector, an increasing focus on personal grooming, and a growing preference for luxury products.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Saudi Arabia perfume and fragrances market size at USD 1,964 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the Saudi Arabia perfume and fragrances market size to grow at a CAGR of 6.38% reaching a value of USD 2,847 million by 2029. Increasing awareness about personal grooming, changing lifestyles, rising disposable income, the cultural significance of perfumes in the kingdom, and greater tourism are some of the factors driving the expansion of the Saudi Arabia perfume and fragrances market. Growing retail networks, active brand marketing tactics, and consumer desire for expensive and premium scents are also driving the growth of the market. Younger demographics with a heightened awareness of global trends and the rise of online shopping platforms contribute to the market growth and create a dynamic and competitive environment for the market in the kingdom.

Saudi Arabia Perfume and Fragrances Market – Overview

Perfumes and fragrances are aromatic compositions crafted to enhance personal scent. They consist of aromatic compounds, essential oils, and fixatives that evoke pleasing aromas when applied to the skin or clothing. Derived from various natural and synthetic sources, these scents are categorized into floral, woody, oriental, and fresh notes, among others. Perfumes play a significant role in personal grooming, reflecting one's style and personality. They are used in various products like colognes, and body sprays, influencing emotions, memories, and perceptions while serving as an integral part of cultural practices, cosmetics, and the luxury industry.

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Impact of COVID-19 on Saudi Arabia Perfume and Fragrances Market

The COVID-19 pandemic adversely affected the Saudi Arabia perfume and fragrances market. Lockdowns, travel restrictions, and reduced consumer spending led to a decline in sales. The closure of retail outlets and limited social gatherings also affected the demand for these products. However, there was a gradual recovery as restrictions eased, with a shift towards online sales. The market adapted by focusing on hygiene-conscious products. Overall, the market experienced a temporary setback but demonstrated resilience by adjusting to changing consumer preferences and adopting new distribution channels.

Saudi Arabia Perfume and Fragrances Market – By Consumer Group

Based on consumer group, Saudi Arabia perfume and fragrances market is divided into Men, Women, and Unisex segments. The women's segment is the largest segment, which encompasses a broad range of fragrances tailored to suit diverse preferences and occasions. The segment's prominence can be attributed to the cultural significance of personal grooming and scent among Saudi women, often involving an array of occasions such as social gatherings, celebrations, and daily routines. The women's segment is characterized by a wide variety of floral, fruity, oriental, and modern scent offerings, catering to the evolving tastes of the Saudi female demographic.

Competitive Landscape

Saudi Arabia perfume and fragrances market is fiercely competitive. Major companies in the market include Abdul Samad Al Qurashi, Arabian Oud, Swiss Arabian, Al-Rehab, Ajmal Perfumes, Lattafa Perfumes, Rasasi Perfumes, Nabeel Perfumes, Paris Gallery, and Sephora. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in Saudi Arabia perfume and fragrances market.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Saudi Arabia Perfume and Fragrances Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Saudi Arabia Perfume and Fragrances Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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