Fragrances accounted for 19.6% of Middle East & Africa beauty market in 2014, research reveals

Fragrances accounted for 19.6% of Middle East & Africa beauty market in 2014, research reveals

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.

 

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