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UAE Appetite For Premium Perfume Continues Unabated
UAE Appetite For Premium Perfume Continues Unabated
Market for luxury fragrances to be worth AED 663.5 million by 2014
Sheikh Zayed Road,
Dubai,
United Arab Emirates
(prbd.net)
02/05/2011
DUBAI – Growth in demand for premium fragrances in the UAE con-tinues unabated, with sales of high-end, signature products growing at a CAGR of 5.4 per cent. This is faster than the sales of mass-produced fragrances, making the region a prime target market for luxury perfume labels from across the world.
Recent research from Euromonitor International, official knowledge partner for Beautyworld Middle East, estimates that the market for premium fragrances will be worth AED 663.5 million by 2014 while sales of mass fragrances are expected to be worth AED 247.9 million in the same period. This is a key indicator that the UAE market has a marked preference for high end perfumes and other luxury goods.
“The fragrance market in the UAE and the wider region remains an exciting one with tremendous potential for growth,” said Ahmed
Pauwels, Chief Executive Officer of Epoc Messe Frankfurt, who or-ganise Beautyworld Middle East, the foremost trade event in the re-gion for beauty products, fragrances, haircare and wellness. “The av-erage spend on premium perfume is relatively higher than in other parts of the world as fragrances and perfumes are an important part of the local lifestyle and there is a higher disposable income.”
“Beautyworld Middle East, with its region-wide footprint, gives leading perfume houses and fragrance products a first-hand look at this bur-geoning market. Retailers and wholesalers from the region also use the event to scout for new deals, sign up new suppliers and place purchase orders,” Pauwels added.
While the local population are big consumers of premium perfumes, another big factor driving the luxury perfume market in the region is the thriving tourism industry. Tourists account for a significant seg-ment of the perfume market, with duty free sales at the region’s air-ports, mall retail outlets and other shopping locations further driving spending in this segment. Beautyworld Middle East provides an ideal platform for retailers and buyers to source new products and check out the latest market trends that are popular in the global market.
Oriental and local fragrances also have a significant presence in the region, as the markets of the GCC have traditionally been big con-sumers of Oud, Ittar and other native fragrances. Regional perfume houses such as Ajmal and Swiss Arabian have been making their presence felt too, with a range of exotic and designer fragrances that have moved them into the mainstream market.
Leading perfumers and fragrance manufacturers from the region participating in Beautyworld Middle East this year include: Nooranji Perfumes, Swiss Perfumes, Oud Al Anfar, Eurofragrance, Amalia Perfumes, and Swiss Arabian from UAE; Al Atarji and Al Khuraiji from Saudi Arabia; Zahreddine Trading and Al Awani from Lebanon and Al Masmoun Aquador and Al Masmoun Oyunico, from Syria.
Beautyworld Middle East 2011 will be held at the Dubai International Convention and Exhibition Centre from May 24th to 26th. In 2010, the event featured 700 international exhibitors and attracted over 16,000 international trade visitors. The exhibition is the largest international trade fair for beauty products, hair, fragrances and wellbeing in the Middle East and has played a major role in the growth and development of the industry in this region over the last fifteen years.
ENDS
*Euromonitor, official Knowledge Partner for Beautyworld Middle East
Show Profile:
Beautyworld Middle East is the largest international trade fair for beauty products, hair, fragrances and wellbeing in the Middle East. The exhibition has grown in stature from its inception over 15 years ago, as the key networking and sourcing platform for the beauty and cosmetics industries. As the largest event of its kind, it ensures direct access to over 700 exhibitors from 45 countries with 17,000 trade visitors.
With an amazing array of products and services from all over the world, it gives visitors the opportunity to source cutting edge products and services as well as learn about and discuss the latest market trends.
There is no other related trade exhibition in the Middle East that delivers the same quality and variety of buyers and distributors.
Show website: www.beautyworldme.com
Company profile:
EPOC Messe Frankfurt GmbH is a subsidiary of Messe Frankfurt, Germany’s leading trade fair organiser. With 450 million Euros in sales in 2010** and more than 1,770 em-ployees worldwide, Messe Frankfurt brings 800 years of experience to Dubai, the strategic hub for the region. The Messe Frankfurt Group has a global network of 28 subsidiaries, five branch offices and 52 international Sales Partners giving it a presence for its customers in more than 150 countries.
The successful portfolio of events of Epoc Messe Frankfurt GmbH in Dubai includes: Intersec trade fair and conference, Materials Handling Middle East, Hardware+Tools Middle East, Garden+Landscaping Middle East, Light Middle East, Beautyworld Middle East, Automechanika Middle East, and now also Paperworld Middle East and Playworld Middle East.
For more information, please visit our website at: www.uae.messefrankfurt.com
**Preliminary figures for 2010
-End-
For more information, please contact:
BIZ COM - For PRoactive Communications
P.O. Box 48889; Dubai – UAE
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Fax: +971 4 332-0999
Email: info@bizcom.ae
W: www.bizcom.ae
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