Why Rising Demand for Natural-Ingredient-Based Products Will Drive U.A.E. Fragrance Market?
In 2021, the U.A.E. fragrance market stood at $913.7 million, and it is forecast to touch $1,622.5 million in 2030. The market is expected to advance at a CAGR of 6.6% from 2021 to 2030, owing to the skyrocketing investments in marketing and advertising initiatives, surging demand for custom-made, natural, and eco-friendly cosmetic products, as well as the increasing disposable income of the consumers, which consequently augment the purchasing power of consumers.
Luxury products dominated the U.A.E. fragrance market in 2021, with a revenue share of around 70%. This is because of the economically strong market of the U.A.E., wherein prominent multinational brands have launched their premium products here much earlier than in other regional countries. Approximately 60% of the population is in the 14–40 age bracket, and these people tend to have a higher purchasing power due to the higher employment rate than other age groups.
The gradually skyrocketing consumer demand for personal care products will drive the U.A.E. fragrance market in the coming years. The essential daily products...
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