GCC: Perfume Market 2024

Perfume Market Size in GCC

In 2023, after two years of growth, there was significant decline in the GCC perfume market, when its value decreased by X% to $X. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X, and then dropped in the following year.

Perfume Production in GCC

In value terms, perfume production shrank notably to $X in 2023 estimated in export price. Over the period under review, production, however, enjoyed a significant increase. The pace of growth was the most pronounced in 2022 with an increase of X%. As a result, production attained the peak level of $X, and then reduced notably in the following year.

Perfume Exports

Exports in GCC

In 2023, the amount of perfumes and toilet waters exported in GCC contracted slightly to X tons, which is down by X% compared with the previous year's figure. Overall, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2023, the exports remained at a lower figure.

In value terms, perfume exports reduced to $X in 2023. In general, exports, however, recorded strong growth. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2022, and then reduced in the following year.

Exports by Country

The United Arab Emirates dominates exports structure, resulting at X tons, which was near X% of total exports in 2023. It was distantly followed by Saudi Arabia (X tons), constituting a X% share of total exports. Oman (X tons), Kuwait (X tons), Qatar (X tons) and Bahrain (X tons) held a minor share of total exports.

From 2012 to 2023, average annual rates of growth with regard to perfume exports from the United Arab Emirates stood at X%. At the same time, Qatar (X%) and Kuwait (X%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2023. Oman experienced a relatively flat trend pattern. By contrast, Saudi Arabia (X%) and Bahrain (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.), Kuwait (X p.p.) and Qatar (X p.p.) significantly strengthened its position in terms of the total exports, while Bahrain and Saudi Arabia saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest perfume supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Kuwait ($X), with a X% share of total exports. It was followed by Saudi Arabia, with a X% share.

In the United Arab Emirates, perfume exports increased at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Kuwait (X% per year) and Saudi Arabia (X% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2023, reducing by X% against the previous year. In general, the export price, however, showed resilient growth. The growth pace was the most rapid in 2022 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton, and then declined modestly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Kuwait ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the other leaders experienced more modest paces of growth.

Perfume Imports

Imports in GCC

In 2023, the amount of perfumes and toilet waters imported in GCC surged to X tons, growing by X% on the year before. Overall, imports, however, recorded a mild reduction. The volume of import peaked at X tons in 2014; however, from 2015 to 2023, imports remained at a lower figure.

In value terms, perfume imports stood at $X in 2023. In general, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by X%. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports remained at a lower figure.

Imports by Country

The United Arab Emirates was the major importer of perfumes and toilet waters in GCC, with the volume of imports finishing at X tons, which was approx. X% of total imports in 2023. Saudi Arabia (X tons) took the second position in the ranking, distantly followed by Kuwait (X tons) and Oman (X tons). All these countries together held approx. X% share of total imports. Qatar (X tons) and Bahrain (X tons) held a minor share of total imports.

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of imports of perfumes and toilet waters. At the same time, Bahrain (X%) and Oman (X%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2023. Kuwait experienced a relatively flat trend pattern. By contrast, Qatar (X%) and Saudi Arabia (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.), Oman (X p.p.), Kuwait (X p.p.) and Bahrain (X p.p.) significantly strengthened its position in terms of the total imports, while Saudi Arabia saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported perfumes and toilet waters in GCC, comprising X% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a X% share of total imports. It was followed by Kuwait, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in the United Arab Emirates totaled X%. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and Kuwait (X% per year).

Import Prices by Country

In 2023, the import price in GCC amounted to $X per ton, with a decrease of X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2022 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton, and then reduced in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Oman (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform