A comprehensive overview of the Middle East fragrance market is recently added by UnivDatos Market Insights to its humongous database. The Middle East fragrance market report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Middle East fragrance market. The Middle East fragrance market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Middle East fragrance market at the country levels. The Middle East fragrance market is expected to grow at a CAGR of --% from 2021-2027 to exceed US$ -- billion by 2027.

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Market Overview  

The Middle East fragrances market is expected to witness a boost as the region is known for its rich history and passion for fine fragrances & specializes in integrating perfumery with tradition, research, and creativity. People in the Middle East countries are very selective in choosing scents and are also spending a considerable amount of their incomes on fragrances leading to the growth in sales of fragrances in the region. For instance, sales of fragrance in MENA are estimated to reach $8.5 billion by 2021, up from $5.7 billion in 2018, as per an international research firm.

Furthermore, the surging demand for fragrances and the presence of well-established industry players such as Ajmal Perfumes, Rasasi, Arabian Oud, Al-haramain, among others in the region is also propelling the growth of the fragrances market. Also, many manufacturers are launching new and innovative products due to which the region is perceived as the pioneer for fragrances. For instance, in 2019, the world’s most expensive perfume was launched by a Dubai-based company, The Spirit of Dubai, part of the Nabeel Perfumes Group. The fragrance is named “Shumukh” which means deserving the highest and lasts up to 12 hours on the skin.

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COVID-19 Impact

The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. The pandemic brought the world to a standstill as lockdown restrictions have resulted in the disruption of supply chains and the widespread closure of stores. All industries have suffered some form of loss due to the pandemic and the fragrances sector has not been left untouched by this unprecedented crisis of modern times. This industry has its own share of challenges due to the COVID-19 pandemic such as major loss in sales as consumers tend to spend less on beauty and cosmetic products.

Middle East fragrance market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

By Demographics, the market is primarily segmented into

·        Men

·        Women

·        Unisex

The women segment generated revenue of US$ XX billion in 2020 and is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of US$ XX billion by 2027F. However, the men segment is also expected to grow at a considerable CAGR.

By Sales Channels, the market is primarily segmented into

·        Online

·        Offline

Amongst sales channels, the offline segment of the Middle East fragrances market was valued at US$ XX billion in 2020 and is likely to reach US$ XX billion by 2027 growing at a CAGR of XX% from 2021-2027. However, the online segment is expected to grow at a considerable CAGR during the forecast period.

Middle East Fragrances Market Geographical Segmentation Includes:

·        Saudi Arabia

·        UAE

·        Kuwait

·        Egypt

·        Rest of Middle East

Based on the estimation, Saudi Arabia dominated the Middle East fragrances market with almost XX% revenue share in 2020 owing to the dominance of large companies in the country and availability of innovative and premium products.

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The major players targeting the market includes

·        Gucci

·        LVMH

·        Rasasi

·        Yas Perfumes

·        Calvin Klein

·        The Fragrance Kitchen

·        Ajmal

·        Arabian Oud

·        Abdul Samad Al Qurashi

·        Al-haramain 

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analysing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Middle East fragrances market. The leading players have been analysed by using research methodologies for getting insight views on global competition.

Key questions resolved through this analytical market research report include:

·        What are the latest trends, new patterns, and technological advancements in the Middle East fragrances market?

·        Which factors are influencing the Middle East fragrances market over the forecast period?

·        What are the global challenges, threats, and risks in the Middle East fragrances market?

·        Which factors are propelling and restraining the Middle East fragrances market?

·        What are the demanding global regions of the Middle East fragrances market?

·        What will be the market size in the upcoming years?

·        What are the crucial market acquisition strategies and policies applied by global companies?

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