GCC perfume market 'worth $3 billion'
Dubai, March 15, 2010
The GCC market for fragrances is estimated at Dh11 billion ($2.99 billion) per annum accounting for approximately 20 per cent of the world market, according to a recent international study.
On top of this, the region's per capita spending in cosmetics and perfumes is said to be one of the highest in the world.
Beautyworld Middle East 2010, which will take place from June 1 to 3 at the Dubai International Convention and Exhibition Centre, will tap into this wealth of opportunity, said Ahmed Pauwels, chief executive officer of Epoc Messe Frankfurt, organiser of the event.
The UAE, where tax-free incomes are the norm, is projected to see a surge of 25 per cent in its population from the current 6 million to almost 7.5 million by 2010, according to a state department. Concurrently, the purchase of beauty products in the UAE has been expanding at over 12.5 per cent per year, accounting for a 30 per cent expansion in beauty and perfume retail space in the past three years.
“The fragrance market is an important area of growth for us and we are developing the fragrance section at the event. This year we are introducing an innovative Fragrance Station where visitors can ‘spray and sniff’ perfumes and then find the stand number for that perfume at the base of the bottle. We expect a large number of the trade visitors to the show to be specifically interested in fragrances and toiletries,” added Elaine O’Connell, senior show manager, Beautyworld Middle East.
The exhibition is the leading trade show for cosmetics, beauty products, fragrances and the wellness and spas industry in the Middle East region.-TradeArabia News Service