Saudi Arabia Fragrance Market Comprehensive Study Explores Huge Growth in Future

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Saudi Arabia Fragrance Market Comprehensive Study Explores Huge Growth in Future
The growing importance of personal grooming, rising number of people going to the gym, surging spending on research and development, rising disposable income, and growing marketing activities via digital channels are the major growth drivers for the Saudi Arabian fragrance market.

The Saudi Arabian fragrance market reached a revenue of $1,738.5 million in 2020, and it is predicted to exhibit a CAGR of 8.2% from 2020 to 2030. According to the forecast of the market research company, P&S Intelligence, the market will attain a value of $3,810.5 million by 2030. The market is being driven by the increasing consciousness of people toward personal grooming, surging number of gym-goers, growing research and development (R&D) expenditure, soaring disposable income of people, and rising digital marketing activities in the country.

As per the Census and Economic Information Center (CEIC) data, the gross national disposable income in Saudi Arabia surged from $617,848.7 in 2016 to $658,493.5 in 2017. Additionally, as per the observations of the Saudi Arabian Monetary Agency, consumer spending increased from $80,067.9 million in the fourth quarter of 2020 to $83,916.1 million in the first quarter of 2021. The rising income of people is positively impacting the demand for premium fragrances in the country. Another major Saudi Arabian fragrance market growth driver is the soaring number of gym-goers in the country.

The country was home to around 1,280 gyms in 2019. As people usually use fragrance products after workout, the growing popularity of the working out culture is driving the expansion of the market. Depending on product, the market is classified into eau de parfum, eau de Cologne, parfum, and eau de toilette. Amongst these, the eau de parfum category is predicted to hold the largest share in the market throughout the forecast period. This will be because of the extremely strong fragrance of this perfume, owing to the greater concentration of various perfumed essential oils and lower alcohol concentration in it.

Browse detailed report on Saudi Arabia Fragrance Market Size and Growth Forecast to 2030

When type is taken into consideration, the Saudi Arabian fragrance market is divided into mass product and luxury product categories. Of these, the luxury product category is expected to dominate the market during the forecast period, owing to the surging popularity of luxury products among millennials. The market is also divided, on the basis of consumer group, into men, women, and unisex. Amongst these, the men category is predicted to register the highest growth rate in the market in the coming years, mainly because of the growing population of gym-goers in the country.

Some of the major players operating in the Saudi Arabian fragrance market, such as Elizabeth Arden Inc., Arabian Oud, The Procter & Gamble Company, L’Oréal S.A., Avon Products Inc., Calvin Klein Inc., Symrise AG, Unilever Group, and The Estée Lauder Companies Inc., are focusing on partnerships in order to expand their customer pool. For example, Al Malki Group entered into a partnership with Estée Lauder Companies Inc. in January 2021 to get the exclusive rights to sell Tom Ford, Clinique, and Estée Lauder products at various stores in the country.

Hence, the sales of fragrances will shoot up in Saudi Arabia in the forthcoming years, mainly because of the rising consciousness of people toward looks, appearance, and personal grooming, soaring number of gym-goers, and surging disposable income of people in the country.

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Market Size Breakdown by Segments

By Type

  • Luxury Product
  • Mass Product

By Product

  • Parfum
  • Eau de Parfum
  • Eau de Toilette
  • Eau de Cologne

By Synthesis

  • Natural
  • Synthetic

By Consumer Group

  • Men
  • Women
  • Unisex

By Distribution Channel

  • Grocery/Departmental Store
  • Supermarket/Hypermarket
  • Multi-Brand Retail Store
  • Online

By Region

  • Central
  • Eastern
  • Western
  • Southern

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U.A.E. Fragrance Market – Geographically, in the U.A.E. fragrance market, Abu Dhabi and Dubai generated the highest demand for these products in the past. It can be attributed to the fact that these metropolises are majorly home to a richer and more-cosmopolitan population than other emirates. In addition, Dubai and Abu Dhabi are the business and tourism hubs of the country; therefore, feature a vibrant life and high society culture. This raises the importance of smelling and looking good among both men and women, especially during social events. 

Beauty Products Market in  U.S. – The revenue of the U.S. beauty and personal care products market will rise from $81.1 billion in 2019 to $128.7 billion by 2030, while the market will exhibit a CAGR of 4.8% from 2020 to 2030. Skin care, color cosmetics, hair care, bath and shower, baby care, men’s grooming, oral care, sun care, deodorant, depilatory, and fragrance are the most widely sold types of beauty and personal care products in the U.S. 

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