The prospectus for the initial public offering (IPO) of Almajed for Oud Co. on the Main Market (TASI) revealed the market shares of companies operating in the Saudi perfume market in 2022.
According to the prospectus, the top five frontrunners in the Saudi perfume market accounted for 36.9% of the total market shares in 2022, as the sector was relatively fragmented at the time. The remaining competitors took 64.3% of the total.
Arabian Oud Co. acquired the highest market share of 12.7%, followed by Abdulsamad Al Qurashi Co. (9.4%), then Deraah Trading Co. (6.1%) and Almajed Oud (5.2%).
|
Market Shares of Frontrunners in 2022* |
|||
|
Company |
Rank |
Market Share |
Branches |
|
Arabian Oud |
1 |
12.7% |
900 |
|
Abdulsamad Al Qurashi |
2 |
9.4% |
+500 |
|
Deraah |
3 |
6.1% |
850 |
|
Almajed Oud |
4 |
5.2% |
+300 |
|
Coty Inc. |
5 |
2.5% |
NA |
|
Others |
-- |
64.3% |
NA |
*From Euromonitor International’s calculations based on primary and secondary research
According to Almajed Oud’s IPO prospectus, the GCC perfume market was valued at SAR 13.5 billion in 2022, with Saudi Arabia recording the fastest compound annual growth rate (CAGR) among neighboring nations of 4.1% between 2018 and 2022.
The GCC perfume market is expected to grow at an 8.7% CAGR between 2022 and 2027 to reach SAR 20.4 billion by then. Country-wise, Saudi Arabia is projected to be the largest contributor with a CAGR of 13% during the five-year period.
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