In 2019, the Middle East fragrances market size was valued at $2,852.9 million and is projected to reach $4,414.1 million by 2027, registering a CAGR of 7.4% from 2020 to 2027, per GlobeNewswire.
Related: Iberchem's 2021 Fine Fragrances Trends
The increase in importance of fragrances and the ever-changing fashion trends, fuel the growth in demand for fragrance products.
As well as the rise in internet growth, most of the key players in the Middle East fragrances market strategize on promoting its products and services on these social media platforms.
The major drivers for the global fragrance and perfume market include:
- Increase in population
- Rise in consumer expenditure on personal and beauty care products
- Surge in awareness about the therapeutic benefits of fragrances
- Innovative product push strategy by key players
Despite the expected increase in the market, due to the availability of counterfeit products and use of chemical ingredients with probable side-effects, these are expected to hamper the growth during the forecast period.
