MENA: Perfume Market 2024

Perfume Market Size in MENA

In 2022, the MENA's perfume market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption enjoyed a prominent increase. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Perfume Production in MENA

In value terms, perfume production dropped to $X in 2022 estimated in export price. In general, production showed a resilient increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 80% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Perfume Exports

Exports in MENA

Perfume exports shrank to X tons in 2022, with a decrease of -8.1% compared with 2021 figures. The total export volume increased at an average annual rate of +2.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 22%. As a result, the exports attained the peak of X tons, and then fell in the following year.

In value terms, perfume exports contracted to $X in 2022. Over the period under review, exports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2021 when exports increased by 48%. As a result, the exports reached the peak of $X, and then declined in the following year.

Exports by Country

The United Arab Emirates was the largest exporter of perfumes and toilet waters in MENA, with the volume of exports amounting to X tons, which was approx. 52% of total exports in 2022. Turkey (X tons) took a 28% share (based on physical terms) of total exports, which put it in second place, followed by Saudi Arabia (5.9%). Morocco (X tons), Oman (X tons), Israel (X tons) and Kuwait (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Kuwait (with a CAGR of +14.8%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) remains the largest perfume supplier in MENA, comprising 49% of total exports. The second position in the ranking was held by Turkey ($X), with a 16% share of total exports. It was followed by Israel, with an 8.5% share.

In the United Arab Emirates, perfume exports increased at an average annual rate of +8.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Turkey (+12.0% per year) and Israel (+16.8% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, with an increase of 1.6% against the previous year. Export price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, perfume export price increased by +23.5% against 2019 indices. The pace of growth was the most pronounced in 2021 an increase of 21%. Over the period under review, the export prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Israel ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+10.7%), while the other leaders experienced more modest paces of growth.

Perfume Imports

Imports in MENA

In 2022, perfume imports in MENA contracted modestly to X tons, which is down by -5% compared with the year before. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 27%. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, perfume imports declined to $X in 2022. The total import value increased at an average annual rate of +3.6% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 40% against the previous year. As a result, imports reached the peak of $X, and then contracted in the following year.

Imports by Country

In 2022, the United Arab Emirates (X tons), distantly followed by Saudi Arabia (X tons), Iraq (X tons), Turkey (X tons), Morocco (X tons) and Kuwait (X tons) represented the largest importers of perfumes and toilet waters, together making up 76% of total imports. Oman (X tons), Israel (X tons), Yemen (X tons), Algeria (X tons), Qatar (X tons), Libya (X tons) and Bahrain (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Morocco (with a CAGR of +8.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported perfumes and toilet waters in MENA, comprising 43% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a 14% share of total imports. It was followed by Israel, with a 9.4% share.

In the United Arab Emirates, perfume imports increased at an average annual rate of +4.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Saudi Arabia (-1.3% per year) and Israel (+11.4% per year).

Import Prices by Country

In 2022, the import price in MENA amounted to $X per ton, reducing by -3.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.7%. The pace of growth was the most pronounced in 2021 an increase of 21%. As a result, import price reached the peak level of $X per ton, and then declined modestly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Israel ($X per ton), while Yemen ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+8.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform