Market Research Report
Kuwait Perfume Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024
|Published by||IMARC Services Private Limited||Product code||692995|
|Published||Content info||74 Pages
Delivery time: 2-3 business days
|Kuwait Perfume Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024|
|Published: June 10, 2019||Content info: 74 Pages||
The Kuwait perfume market was worth US$ 113 Million in 2018. The market is further projected to reach US$ 196 Million by 2024, at a CAGR of 9.5% during 2019-2024. Kuwait represents one of the fastest growing perfume markets in the Middle East. As perfumes enhance mood, reduce stress and boost confidence, they form a significant part of the day-to-day lives of Kuwaitis. Moreover, the strong economic growth in the region and a large young population base have augmented the demand for perfumes in Kuwait. In addition to this, high disposable incomes of consumers have led to numerous changes in their perspective and buying patterns, which in turn, is strengthening the sales of perfumes in the region. The rising urban lifestyle and emulation of the Western culture are further prompting consumers to buy luxury goods such as perfumes.
Kuwait Perfume Market Drivers
Currently, the personal care industry is witnessing a strong growth on account of wider acceptance and willingness by the consumers to invest on self-grooming products. This is fostering the growth of the Kuwait perfume market.
One of the key trends that has been witnessed in the region is a significant shift towards eco-friendly, alcohol-free and personalised perfumes which can be accredited to the consumer's negative perspective about synthetic fragrances.
In order to expand their consumer-base, manufacturers are constantly investing in research and development, and coming up with new product launches which are different in terms of packaging, prices and fragrances.