Saudi Arabia Perfume Analysis Report 2024: A $3.374 Billion Market by 2032 from $2 Billion in 2023, Driven by Global Attention with Rich and Unique Scents, & Thriving Tourism Sector
Dublin, April 19, 2024 (GLOBE NEWSWIRE) -- The "Saudi Arabia Perfume Market Report by Type, Value, Gender, and Company Analysis 2024-2032" report has been added to * ResearchAndMarkets.com's* offering.
Saudi Arabia's Perfume Market is expected to reach US$ 3,374.72 Million by 2032. The CAGR for the market from 2024 to 2032 is 5.95%. The analyst states that it amounted to US$ 2,005.99 Million in 2023.
Their rich and unusual scents are what make the perfumes of Saudi Arabia widely recognized. They have grown to be substantially popular globally. These fragrances come from a deep-rooted historical past. They blend traditional elements like oud, musk, and rose. The global market is increasingly interested in their luxury and distinctiveness. Social media and online purchasing have made them more accessible internationally. High-profile collaborations and endorsements have expanded their appeal. Saudi Arabian perfumes are now celebrated as a critical part of the luxury fragrance enterprise.
The thriving tourism sector drives an increase in the Saudi Arabia perfume market. International visitors and a growing local luxury market drive increased sales in the country's perfume industry. Saudi Arabia hosted over 100 million tourists in 2023. This included 27 million from overseas and over 79 million domestic travelers, as reported by the World Tourism Organization. So, tourists are drawn to traditional Arabian fragrances, while locals embrace global brands. This convergence of choices encourages market diversification and innovation.
The growing population of Saudi Arabia continually increases the patron base for perfumes. The contemporary population of Saudi Arabia was 37,315,410 as of March 2024, based on the Worldometer elaboration of the brand new United Nations information. The perfume market experiences persistent growth driven by diverse choices and a growing emphasis on self-care and indulgence. Many individuals are searching for personal grooming and luxury merchandise, contributing to this trend. The high disposable earnings of individuals also represent one of the essential factors catalyzing the demand for luxurious commodities, including top-rate perfumes in Saudi Arabia.
Substantial internet usage has heightened client knowledge of perfumes in Saudi Arabia. The kingdom boasts the highest number of active social media users across platforms like Instagram, Facebook, Snapchat, and Twitter. DataReportal states that during January 2023, 29.10 million social media customers were active, representing 79.3% of the population. As of early 2023, there were 42.5 million active mobile cellular connections, 115.9% of the population.
Arabian beauty influencers are emerging as modern marketers in the Saudi Arabia perfume market by leveraging their social media presence. Saudi Arabian media figure Sara Murad entered the fray in 2023 by launching her perfume brand, By Sara Murad. As a self-proclaimed perfume enthusiast and MBC1 presenter, her debut fragrance, Black Oud, is a gender-neutral blend she describes as 'bold and intense.'
*The Eau de Parfum (EDP) category could lead the perfume market of Saudi Arabia*
The Eau de Parfum (EDP) section may dominate the Saudi Arabia perfume market due to its longer-lasting scent and better perfume attention. Offering a luxurious enjoyment, EDPs cater to the discerning tastes of Saudi consumers, propelling massive sales and organizing themselves as a preferred demand in the Saudi Arabia perfume market.
*Women are anticipated to be the immediate customers in the perfume market in Saudi Arabia*
In the Saudi Arabia perfume market, women are anticipated to be the primary customers because of cultural norms and alternatives. Perfumes are necessary for personal grooming and modesty in Islamic culture, prompting ladies to wear fragrances more openly. Besides, the developing emphasis on self-expression and comfort amongst ladies solidifies their dominance in driving demand for perfumes in the country.
*Key Attributes:*
*Report Attribute* *Details*
No. of Pages 75
Forecast Period 2023 - 2032
Estimated Market Value (USD) in 2023 $2 Billion
Forecasted Market Value (USD) by 2032 $3.37 Billion
Compound Annual Growth Rate 5.9%
Regions Covered Saudi Arabia
*Company Analysis*: *Overview, Recent Developments, Revenue Analysis*
· Abdul Samad Al Qurashi
· Ahmed Al Maghribi Perfumes
· Ajmal Perfumes
· Arabian Oud
· Rasasi Perfume Industry LLC.
· Rashat
· Swiss Arabian Perfumes Group
· The Fragrance Kitchen (TFK)
*Type - Market breakup in 4 viewpoints:*
· Eau de Parfum
· Eau de Toilette
· Eau de Cologne
· Eau Fraiche
*Value - Market breakup in 4 viewpoints:*
· Luxury
· Mass
*Gender - Market breakup in 4 viewpoints:*
· Male
· Female
· Unisex
For more information about this report visit https://www.researchandmarkets.com/r/6rqdfi
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*Attachment*
· Saudi Arabian Perfume Market
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