Per Capita Spend On Premium Fragrances In KSA, UAE Overshadows European, US Markets
Traditionally renowned for its love of fragrances, the Middle East region continues to be one of the key focus areas for international fragrance brands.
May 6, 2014 (Newswire.com) - Traditionally renowned for its love of fragrances, the Middle East region continues to be one of the key focus areas for international fragrance brands.
With research from leading analysts Euromonitor International indicating that per capita consumption of premium fragrances in key markets such as Saudi Arabia and the UAE overshadows that of markets such as the US and the UK, it's not surprising that the countries of the GCC are on international perfumers' high-priority lists.
Consumers in Saudi Arabia spent US$34.40 per capita on premium fragrances in 2012, a figure estimated to rise to $49.10 by 2017. Their UAE counterparts shelled out $21.30 in 2012 and are set to spend as much as $25.50 in 2017. *
While consumers in the UK spent $24.50 on premium perfume brands in 2012, they are expected to spend $25.80 per capita in 2017. On the other hand US consumers were lagging their Middle Eastern counterparts, having spent $16.10 on select perfumes in 2012 and set to spend $16.80 in 2017.
Fragrances make up a considerable segment of the region's overall beauty and wellness market. A fact which is reflected in the sector's importance at Beautyworld Middle East, the leading international trade and networking event for beauty industry in the region, where nearly 20% of the exhibitors deal with fragrances.
The number of exhibitors in the Fragrance segment at Beautyworld Middle East has more than doubled in the period 2008 to 2013. While 67 exhibitors showcased perfumes and fragrance products in 2008, this number rose to 167 in 2013, underlining the growing international interest in the region among global perfume manufacturers.
"Fragrances and fine perfume have always played a significant part in the Arab lifestyle, which explains the relatively higher levels of expenditure on perfumes across the region," said Ahmed Pauwels, CEO of Beautyworld Middle East organiser, Epoc Messe Frankfurt. "More importantly, Middle Eastern consumers have also been willing to pay a premium for high quality perfumes, making this a key market for the world's leading perfume brands,"
Beautyworld Middle East 2014, which runs from May 27th to 29th, 2014 at the Dubai International Convention and Exhibition Centre, will showcase a wide range of world-leading fragrance brands already familiar to the market, as well as a number of regional and international perfumers making their market debut or looking to enlarge their market presence.
Besides Fragrances, Beautyworld Middle East 2014 will feature the following focus groups: Hair, Nails and Accessories, Cosmetics and Skincare, Machinery, Packaging and Raw Materials and Professional Equipment and Spa.
Beautyworld Middle East 2014 also features a raft of additional events, highly acclaimed by visitors and delegates. They include: Beautyworld ME Boutique; Walk of Beauty by Madi
International; Nail It! by OPI and Nazih Group; Fragrance Station; Spa and Salon Summit
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