(MENAFN- Mid-East.Info)
NEW YORK: The Saudi Arabian fragrance market is expected to reach $3,500.9 million by 2030 from $2,049.7 million in 2021, with a CAGR of 6.1% from 2021 to 2030, according to the market research firm P&S Intelligence. The market is being pushed by the expanding significance of grooming and personal cleanliness in the country, as well as the growing number of gym-goers. Saudi Arabia is among the most-significant markets for cosmetics and fragrances in the Middle East because of its sizable economy.
With the rise of the e-commerce industry, the Saudi Arabian fragrance market growth is likely to accelerate over the next decade. The internet is playing a significant role in raising the consumer awareness of scent items. Numerous platforms, such as Facebook, Instagram, Twitter, and Snapchat, register the highest usership in the region from Saudi Arabia.
Key Findings of Saudi Arabia Fragrance Market Report
- Shower gels, shampoos, body lotions, and shaving creams are all examples of cosmetics and personal care items that contain fragrant chemicals. Thus, the rising consumer fascination with health and wellness has created a new potential for scent development. While purchasing personal care items, people consider an attractive smell to be a significant element.
- A successful scent is also one that favorably reflects the company and ideally caters to the target users from a marketing standpoint. As a result, the majority of the personal care firms are reinventing their products by employing pleasant and organic aromatic components, which boosts the Saudi Arabian fragrance market advance.
- Perfumes are worn by both men and women, and they express the wearer's style, uniqueness, and personality. Due to the changes in taste, people in Saudi Arabia are shifting to Western brands, which are setting up shop in the kingdom, thus contributing to the expansion of the fragrance industry.
- Women consider perfumes an important part of their identity. With the rise of the female workforce, scents are becoming more fashionable. Ladies love fragrance, and they are one of the most-important and appealing personal grooming accessories for them.
- Men are also becoming more interested in scented items. Fragrances increase self-esteem and have a positive impact on the overall perception. Some men apply perfume to enhance their sense of personal hygiene, while others do it merely to emit a pleasing odor. As a result of the shifting view to scents being an important aspect of personal care among adult males, there has been a rise in the demand for them.
- In the Saudi Arabian fragrance market, luxury goods accounted for roughly 80% of the total sales in 2021. Because of the high levels of income and the country's thriving oil & gas and BFSI industries, Saudi Arabia is one of the world's fastest-growing economies.
Ajmal Perfumes teamed with SAP SE, a multinational technology business, to promote digital transformation in September 2021. The firm would operate on the RISE, on the SAP S/4HANA real-time business suite, with the platform of SAP, and with the SAP SuccessFactors human experience management suite, increase staff experience, in collaboration with channel partner Accely.
Other key players are Al Majed 4Oud Company, Bath & Body Works Direct Inc., Candle-Lite Company LLC, Johnson & Johnson, Rasasi Perfumes Industry LLC, The Procter & Gamble Company, Christian Dior SE, Unilever Group, Victoria's Secret & Co., Arabian Oud, and Abdul Samad Al Qurashi.
Market Size Breakdown by Segment
By Category
By Product Type
- Perfumes
- Body Oils
- After Shaves
- Candles
- Fragrance Sets
- Body Wash
- Body Creams/Lotions
By Gender
About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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