UAE residents spending more on premium perfumes
Growth in demand for fragrances in the UAE continues unabated with total sales reaching Dh911 million over the next three years.
Research from Euromonitor International said the sales of high-end, signature products are growing at a CAGR of 5.4 per cent to reach Dh663.5 million by 2014. While sales of mass fragrances are expected to be worth Dhs247.9 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 organise Beautyworld Middle East, the exhibition for beauty products, fragrances, haircare and wellness.
"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 local lifestyle and there is a higher disposable income."
While the local population is 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 segment of the perfume market, with duty free sales at the region's airports, mall retail outlets and other shopping locations further driving spending in this segment.
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.
Beautyworld Middle East 2011 will be held at the Dubai International Convention and Exhibition Centre from May 24 to 26.
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