Cosmetics industry sales to hit $30m
Manama, May 22, 2011
Bahrain's fragrance and cosmetic industry is on a steady growth path with sales expected to reach $29.9 million by 2014, said a report.
According to Euromonitor International, in GCC alone sales are expected to exceed $1.6 billion by year end, $500 million in colour cosmetics and $1.13 billion in fragrance sales.
By 2014, the sector could increase by 15.1 per cent to reach annual sales of $1.88bn - $578.5 million in cosmetics and $1.3 billion in fragrances respectively.
'The fragrance market in Bahrain and the wider region remains an exciting one with tremendous potential for growth,' said Ahmed Pauwels, chief executive officer of Epoc Messe Frankfurt, which organises Beautyworld Middle East, the foremost trade event in the region for beauty products, fragrances and haircare.
'The average spend on premium perfume is relatively higher than in other parts of the world as fragrances and perfumes are an important part of the Gulf 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 burgeoning 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 said.
Oriental and local fragrances also have a significant presence in the region, as the markets of the GCC have traditionally been big consumers 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 taking part in expo 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 Tuesday to Thursday.
In 2010, the event featured 700 international exhibitors and attracted more than 16,000 international trade visitors, said Pauwels.
A major event for beauty products, hair and fragrances in the Middle East, Beautyworld ME has played a major role in the development of the industry in the region over the last 15 years, he added.-TradeArabia News Service