The worldwide fragrances and perfumes market is projected to experience moderate growth and is heading to reach AED 126 billion (US $33.6 billion) in 2012, reported Epoc Messe Frankfurt, organizers of the Beautyworld Middle East, scheduled to open from June 7 – 9, 2009, at the Dubai International Convention and Exhibition Centre.
Although the western world dominates the global fragrance and perfume market, the low penetration markets of the Asia-Pacific, and largely the Middle East, present the best business opportunities.
”According the latest research Europe captured an estimated 46% share of the global demand in 2008, but the Asia-Pacific and the Middle East & Africa represent the fastest growing markets in the fragrance industry, with CAGRs of 5.5% & 6% respectively for the next five years,” said Ms. Elisabeth Brehl, the Managing Director of Epoc Messe Frankfurt.
Growth in the Middle East represents huge untapped opportunities to large international players. Given the increasing willingness among the women and men to use an outstanding brand to enhance their image, opportunities abound in this region. Unlocking the potential is Beautyworld Middle East, the largest international event for beauty products, cosmetics and perfumery in the Middle East.
The use of fragrance in daily life has been an integral part of the Arabian culture. The history of scent and its traditions are nowhere more established, than in the Middle East. Anointing one's body with traditional oil-based scents is favourably encouraged in the Arabian culture, and is also associated with the faith of Islam. In Saudi Arabia alone, close to 84% of women use scents everyday.
Andrea Werner, the Senior Show Manager of the Beautywolrd Middle East added, “The Arabian Peninsula has the world's largest consumer per capita spend on perfumes. The perfume market for the premium brands is estimated to be worth AED 991 million (US $270 million) in the UAE alone, accounting for over a fourth of the Middle East's AED 3.67 billion (US $1 billion) share of the perfume market.”
Cosmetics and fragrance manufacturers from around the world will be heading for Dubai this June to participate in the Beautyworld Middle East exhibition in a bid to target the affluent Gulf states which boast one of the highest per capita consumption of cosmetics and fragrances in the world.
Sterling Perfume Industries, an exhibitor at the Beautyworld Middle East 2009, recently ventured into the fragrance retail market of Dubai, with an investment of over AED 35 million. Recently, The Fragrance Foundation announced a Middle East chapter, based in Dubai. The Fragrance Foundation Arabia will concentrate on enhancing the image of the fragrance industry, and aims to expand the appreciation and use of fragrance in all its forms across all distribution channels globally.
Beautyworld Middle East is heralded amongst the world's four largest international events for the industry, registering over 18% growth, as compared to this time last year. Together with Wellness and Spas Middle East (June 7–9, 2009), it will showcase over 850 exhibitors from almost 50 countries, representing more than 1,600 brands, with an expected visitor attendance of 18,000 from over 100 countries.
EPOC Messe Frankfurt GmbH
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