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Middle East Fragrances Market Size with Covid-19 Pandemic Analysis, Growth Rate, New Trend Analysis Forecast To 2020-2027

09-03-2021 01:48 PM CET | Fashion, Lifestyle, Trends

Press release from: Allied Market Research

Middle East Fragrances Market

Middle East Fragrances Market

The Objective of the “Global Middle East Fragrances Market” report is to depict the trends and upcoming for the Middle East Fragrances Market industry over the forecast years. Middle East Fragrances Market report data has been gathered from industry specialists/experts. Although the market size of the market is studied and predicted from 2020 to 2027 mulling over 2019 as the base year of the market study. Attentiveness for the market has increased in recent decades due to development and improvement in the innovation.

The Middle East fragrances market size was valued at $2,852.9 million in 2019, and is projected to reach $4,414.1 million by 2027, registering a CAGR of 7.4% from 2020 to 2027.

Access Full Summary: https://www.alliedmarketresearch.com/middle-east-fragrances-market-A07583

Availability of premium products in the market has become necessity in recent years. This is attributed to the fact that these products minimize the gap between the price range of luxury and ordinary quality for middle-income group consumers. As a result, premiumization plays a key role in the overall growth of Middle East fragrance market.

Over the past couple of years, the traditional mass market fragrance business has witnessed a decline in its sales since the target customers seek for fragrance brands that are more upmarket. This has triggered demand for various perfumes in the Middle East.

The online sales market is expected to expand in the near future due to rapid growth in online and mobile user customer bases in emerging markets. Increase in e-commerce sales, improvements in logistics services, ease in payment options, and the facility to enter in new international markets for major brands further boost the growth of the Middle East fragrances market.

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Increase in penetration of various online portals in the Middle East and rise in number of offers or discounts attract large consumer base to purchase perfumes through online channels. Moreover, online sales channel has increased the consumer reach owing to which it has evolved as a key source of revenue for many companies.

Beauty bloggers and social media influencers are creating new growth avenues for the market. Moreover, increase in advertisement along with product knowledge on social media sites such as Facebook, YouTube, Instagram, and Twitter has increased the awareness regarding perfume products, especially among millennial and generation X consumers of Middle East. In addition, large number of local YouTubers are now hosting popular channels to demonstrate product reviews and tutorials, which, in turn, drive the Middle East fragrances market growth.

The Covid-19 pandemic has a vital impact on the growth of the Middle East Fragrances market and altered several market scenarios. The lockdown across various countries and ban on international travel has disrupted the supply chain and revenue chain. The report includes a thorough analysis of the Covid-19 pandemic on the growth of the Middle East Fragrances market.

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The Middle East fragrances industry is studied on the basis of demographic and country. Depending on demographic, the market is categorized into male, female and unisex. By country, it is segregated into Kingdom of Saudi Arabia, United Arab Emirates, Jordan, Iraq and Rest of Middle East.

Key Findings Of The Study

• By demographic, the female segment dominated the market in 2019, and is expected to retain its dominance throughout the Middle East fragrances market forecast period.
• By country, the Kingdom of Saudi Arabia led in terms of the Middle East fragrances market share in 2019, and is expected to retain its dominance during the forecast period. This is attributed to easy availability of Arabian and Western perfume products on online sales channel.

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to offer business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

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