$196 Mn Kuwait Perfume Market to 2024: Industry Overview, Top Manufactures, Market Size, Opportunitiby Rahul Rastogi Market Research Analyst
The Kuwait perfume market has experienced a robust growth over the past several years. The demand for perfumes is escalating in the region owing to the growing influence of e-commerce industry and the development of unique fragrances by the manufacturers.
According to the latest report by IMARC Group, titled “Kuwait Perfume Market Report: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the Kuwait perfume market reached of US$ 113 Million in 2018. Kuwait is the second richest GCC country and one of the leading markets for personal care and cosmetic products. Similar to other Arabic countries, both men and women in Kuwait approach fragrances as a ritual and layer on multiple products for a unique blend. These blends consist of both traditional oils and attars as well as western perfumes. On account of this, both regional and global perfume manufacturers are trying to expand their businesses in Kuwait. However, as the region has limited flora, the raw materials used in different fragrances are imported from Europe to meet the demand.
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Kuwait Perfume Market Trends:
Kuwait represents one of the fastest growing markets for premium products, such as perfumes, since its inhabitants enjoy a very high per capita income. In addition, a significant rise in the number of tourists as well as the construction of new malls in the region have created growth opportunities for both the international and regional perfume brands. Apart from this, the manufacturers are increasing their media presence in the country in order to attract younger consumers. Moreover, the leading perfume brands in the region are focusing on developing unique and personalized fragrances that are highly preferred by the Kuwaitis. In addition, they are coming up with innovative packaging formats with designer perfume bottles so as to provide a luxury experience to their consumers. Owing to the abovementioned factors, the market is projected to reach a value of US$ 196 Million by 2024, registering at a CAGR of 9.5% during 2019-2024.
Kuwait Perfume Market Summary:
· Based on product type, the Kuwait perfume market has been segmented into premium and mass products. Premium products incorporate upscale perfume brands which are not easily accessible and affordable. On the other hand, mass products are easily available as they can be purchased from the local markets, supermarkets, hypermarkets, etc.
· On the basis of gender, the market has been categorized into male, female and unisex perfumes. Male perfumes mostly encompass woody-musk fragrance notes, whereas perfumes designed for women primarily contain floral/fruity undertones.
· The market has been segregated on the basis of perfume type into Arabic, French and others. Presently, Arabic perfumes represent the most popular segment, holding the majority of the overall market share.
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Created on May 24th 2019 01:43. Viewed 176 times.