Market Size of Gulf Cooperation Council Fragrance and Perfumes Industry
Study Period | 2018 - 2029 |
Base Year For Estimation | 2023 |
Market Size (2024) | USD 3.12 Billion |
Market Size (2029) | USD 3.71 Billion |
CAGR (2024 - 2029) | 3.58 % |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
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GCC Perfume and Fragrance Market Analysis
The Gulf Cooperation Council Fragrance and Perfumes Market size is estimated at USD 3.12 billion in 2024, and is expected to reach USD 3.71 billion by 2029, growing at a CAGR of 3.58% during the forecast period (2024-2029).
The Gulf Cooperation Council region has an intense passion and a rich history for fragrances and premium perfumery that encompasses tradition, research, and creativity. The area has various scents ranging from fruity to floral aromas. Along with this, the consumers in the region signify that such fresh fragrances help elevate and alter the mood. Furthermore, among middle eastern people, scents form an integral part of the traditional and cultural heritage. Moreover, the rising popularity of lighter-scented products, especially among the millennial population, and affordable body splashes and body mists are expected to boost the sales of fragrance and perfume products in the Middle Eastern region.
Over the long term, the increasing disposable income of Arabian consumers has raised the consumer's affordability towards premium categories of different fragrances and perfumes. This has led manufacturers to launch more innovative and excellent fragrances by blending oriental scents lost in time with European signatures. For instance, in March 2022, Lecmo, a premium perfume brand in the United Arab Emirates, launched its new collection called 'The Blue.'
However, the availability of counterfeit products and the use of chemical ingredients with possible side effects are anticipated to restrain the growth of the perfume and fragrances market.