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The GCC fragrance and perfumes market is expected to grow at a CAGR of 5.2% over the forecast period, 2020 to 2025.
- The GCC region has an intensive passion along with a rich history for fragrances and premium perfumery that encompasses tradition, research and creativity. The region has a wide variety of scents that ranges from fruity to floral scents nd along with this the consumers in the region signify that such fresh fragrances helps in ellivating and altering mood. Furthermore, among the middle eastern people fragrances form an integral part of the traditional and cultural heritage.
- Consumers in the region are selective in choosing fragrances and perfumes and are more inclined towrards brands that are more premium. This has led manufacturers to launch more innovative and premium fragrances by blending oriental scent that are lost in time with European signatures.
Key Market Trends
The premiumization of fragrances
Middle East has been one of the region that has rich history and passion for fine fragrances and globally leading fragrance manufacturers are taking inspiration from the region to innovate more premium products that can act as a potential future trends in the fragrances and perfumes markets.
Furthermore, as a sizable Muslim population contributes to the Middle Eastern demographics, halal products demand are high that consist of organic, natural and ethically sourced ingredients having validated credentials. In addition to this, manufacturers operating in the segment are also innovating products that inculcates fragrances with natural essences, perceived to be more healthier, safer and have therapeutic properties as compared to their synthetic variants.
Overall, millennials contributes close to arround 60% of the region’s poulation having tremendous independent spending power and an increasing willingness to experiment with niche brands from the Middle East. Brands such as Odict , Amouage, and Arcadia have successfully launched a range of traditional fragrances, that comes under typical transparent and unnamed bottles and are allowed to mixed in-store in order to create a personalised scent, which is often recognized as ways to brand and market their products.
Saudi Arabia leads the fragrances & perfume market in GCC
As of 2019, Saudi Arabia portrays a comprehensible dominance in the GCC fragrances & Perfumes market. The dominance is led by a large number of companies that has desginated and innovative product lines creating a range of customized perfumes and traditional all-natural scents. Furthermore, the country has a thriving tourism that deals with a significant number of expats and immigrants and a growing e-commerce industry that has enabled brands to reach out to more niche consumers. Overall, an increasing expenditure capacity of consumers in Saudi Arabia, is acting as a positive influencer in the market growth. Apart from this, the presence of duty-free sales counters at international airports in the region is also encouragingand populating the exports of fragrances to other countries, mostly as a part of gifting tradition.
The Middle East, has alaways witnessed a growing demand for fragrance, which exhibits caution to ensure consumer safety. Manufacturers operating in the region, are complying with regional standards as well as international standards that enables them to stand out in the perfumery industry. Brands are seeking in innovating new product that can be more addictve, such as modernised white florals like in Gucci Bloom are quite trendy in the market.
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