Oman: Perfume Market 2024

Perfume Market Size in Oman

In 2022, the Omani perfume market decreased by -8.1% to $X for the first time since 2017, thus ending a four-year rising trend. Over the period under review, consumption, however, showed resilient growth. Over the period under review, the market attained the maximum level at $X in 2021, and then contracted in the following year.

Perfume Exports

Exports from Oman

In 2022, overseas shipments of perfumes and toilet waters decreased by -9.5% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, continue to indicate noticeable growth. The pace of growth was the most pronounced in 2017 when exports increased by 171% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2021, and then reduced in the following year.

In value terms, perfume exports fell remarkably to $X in 2022. Overall, exports, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2021 with an increase of 66%. As a result, the exports reached the peak of $X, and then contracted markedly in the following year.

Exports by Country

Qatar (X tons) was the main destination for perfume exports from Oman, accounting for a 53% share of total exports. Moreover, perfume exports to Qatar exceeded the volume sent to the second major destination, Italy (X tons), fourfold. The United Arab Emirates (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Qatar amounted to +1.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+112.5% per year) and the United Arab Emirates (+4.3% per year).

In value terms, the largest markets for perfume exported from Oman were Qatar ($X), the United Arab Emirates ($X) and Italy ($X), together comprising 59% of total exports. South Korea, the UK, Saudi Arabia, Kuwait, Yemen, Iran and Bahrain lagged somewhat behind, together comprising a further 19%.

In terms of the main countries of destination, South Korea, with a CAGR of +177.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average perfume export price amounted to $X per ton, reducing by -11.4% against the previous year. In general, the export price, however, enjoyed pronounced growth. The pace of growth appeared the most rapid in 2015 when the average export price increased by 185%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Venezuela (+44.3%), while the prices for the other major destinations experienced more modest paces of growth.

Perfume Imports

Imports into Oman

In 2022, after two years of growth, there was significant decline in overseas purchases of perfumes and toilet waters, when their volume decreased by -7.3% to X tons. Overall, imports, however, recorded a tangible increase. The growth pace was the most rapid in 2018 with an increase of 109% against the previous year. Imports peaked at X tons in 2021, and then contracted in the following year.

In value terms, perfume imports reduced to $X in 2022. In general, imports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2018 when imports increased by 61%. Imports peaked at $X in 2021, and then dropped in the following year.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest perfume supplier to Oman, accounting for a 68% share of total imports. Moreover, perfume imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, India (X tons), fivefold. The third position in this ranking was taken by Saudi Arabia (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United Arab Emirates totaled +1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+18.6% per year) and Saudi Arabia (+14.9% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of perfumes and toilet waters to Oman, comprising 82% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a 4.2% share of total imports. It was followed by Bahrain, with a 3.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United Arab Emirates amounted to +9.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (+12.2% per year) and Bahrain (-0.6% per year).

Import Prices by Country

The average perfume import price stood at $X per ton in 2022, waning by -2.6% against the previous year. Over the last decade, it increased at an average annual rate of +2.8%. The most prominent rate of growth was recorded in 2017 an increase of 34% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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