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Fragrance market on the rise in the United Arab Emirates

Fragrance market on the rise in the United Arab Emirates

The Covid-19 pandemic has negatively affected the fragrance market in the United Arab Emirates. The downturn in business, media, entertainment and social activities has led to a decline in demand in the country. But the new trend seems to be on the rise.

 

Perfume, a popular luxury product

 

But the latest trends clearly show that this field is on the rise again in the country. Thus, according to a P&S Intelligence market study, the perfume market should increase by 8.3% between 2020 and 2030 in the United Arab Emirates. The reason for this is the increased spending on luxury products by the younger generation, who are looking for personalised fragrances that complement their personality. The rising average disposable income in the country is also a factor in this forecast, as it allows people to purchase such products without hesitation.

 

Certain categories of fragrances are doing better. These include eau de parfum, which has a higher concentration of essential oils and is therefore stronger and more durable than most other categories. Synthetic fragrances, which are more complex but cheaper to produce than natural fragrances and already have the largest market share, are also expected to grow significantly in the coming years.

 

Perfume manufacturers are also focusing on a new strategy of producing unisex products for both men and women. Multi-brand retail shops, already the main contributors to the country’s fragrance market in terms of distribution channel, are expected to see their position strengthened as the availability of different brands under one roof makes them more accessible to the population.

 

Fragrance manufacturers and sellers are also relying heavily on the media to accelerate sales, as well as to connect with the public. “Thanks to social media tools and the rapid increase in online shopping, customers are extremely aware of exactly what they want and are very selective in choosing the right fragrances for them. The pandemic has widened the window for digital platforms and we have developed digital strategies to meet the needs of our customers,” says Shaikh Mohammad Ali Saeed, CEO of Shaikh Mohd. Shaikh Mohd Mohd East, a company specialising in perfume and beauty products.

 

The dynamics of the UAE fragrance market is primarily driven by Dubai which, as the financial and cultural capital of the country, attracts many large multinationals.

See Also

 

 

Read Also > BVLGARI DEVELOPS ITS RANGE OF MEN’S HIGH-PERFUMERY

 

Featured Photo : © Piqsels

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