Dubai, UAE — The Middle East fragrances market is expected to reach $4.41 billion in 2027, from $2.85 billion in 2019, growing at a CAGR of 7.4 percent from 2020-2027, a report said.
Over the past couple of years, however, the traditional mass-market fragrance business has witnessed a decline in its sales as customers seek more up-market brands, said the report Middle East Fragrances Market by Demographics and Country: Opportunity Analysis and Industry Forecast, 2020-2027.
This has triggered demand for various perfumes in the Middle East, it added. Availability of premium products in the market has become a necessity in recent years because these products minimize the gap between the price range of luxury and ordinary quality products for the middle-income group consumers, the report said.
As a result, premiumization plays a key role in the overall growth of the Middle East fragrance market. At present, customers seek superior quality consumer goods, including perfumes, irrespective of their high-end price tags. This results in an increase in demand for premium brand perfumes.
Beauty bloggers and social media influencers are creating new growth avenues for the market. Moreover, an increase in advertisements along with product knowledge on social media sites has increased awareness regarding perfume products, especially among millennial and generation X consumers of the Middle East.
The online sales market is expected to expand soon due to rapid growth in online and mobile user customer bases in emerging markets.
