Fragrances accounted for 19.6 percent of the Middle East and Africa’s beauty and wellness market in 2014, according to figures published by Euromonitor International.

The market had a retail value of US$5bn last year, and is expected to achieve a compound annual growth rate (CAGR) of 6.3 percent, totalling $6.4 billion by 2018.

Meanwhile UAE consumers spent $401 million on fragrances in 2014.

Saudi Arabia and UAE are the two leading regional markets, with fragrance sales in Saudi valued at $1.4 billion in 2014 – 31 percent of the Kingdom’s total beauty and personal care market ($4.4 billion) for the year. The market is predicted to grow by 9.4 percent annually, reaching US$2bn by 2018.

Meanwhile UAE consumers spent $401 million on fragrances in 2014, representing 28 percent of the country’s total beauty and wellness market for the year (US$1.4 billion.) The UAE fragrance market is predicted to register a CAGR of 5 percent, reaching US$485.5 million by 2018.