As the cosmetics market has been strained by currency floatation, subsidy reduction, increasing customs (60% customs duty on cosmetics), and cost hikes due to increasing rents, salaries, and more, consumers have had to cut back drastically on their use of luxury cosmetic products, especially since most are either imported or largely dependent on imported raw materials as well as having doubled prices of imported goods in the market. Moreover, financial stress, coupled with the rise of Generation Y are concerned about the way they look than any other generation that came before it, has left many looking for cheaper alternatives to imported cosmetic products. Now, seemingly, is the optimum time for Egyptian companies to increasingly run the market.
The fragrance industry is a thriving global market, driven by consumer demand for products that enhance sensory experiences and evoke emotions. In 2025, the Fragrances market in Egypt is projected to generate a revenue of US$0.87bn. It is anticipated that the market will experience an annual growth rate of 6.76% (CAGR 2024-2028).