Perfume Has A New Home
The fragrance market is made up of a staggering amount of scents. Some old, some new, some strong and some subtle. Perfume fragrances are sourced from every continent on earth but the biggest markets tend to be in the west.Most sales have been dominated by the west, where image consciousness and disposal income is more abundant. Change however, may be around the corner. The market in the Arab states is growing rapidly and this expansion is attracted lots of new business
The whole market is doing well at the moment, with many reports suggesting it will reach, by 2010, a total worth of around $30 billion. The Arabian Peninsula is currently responsible for around $270 million of this but the rate of growth is much higher than other countries. One reliable report showed overall sales increased by around 18% last year.
The impressive step up in the market, which has also been seen in the rest of the Middle East and Asia-Pacific has been attributed largely to the rise in money and change in society in all areas.The Arab area are well known for using fragrances. In Saudi Arabia for example, around 85% of women use scents every day. However, the types of fragrance have changed, with more exclusive women’s perfume names replacing the more traditional products. Add to this the fact that men are becoming more comfortable buying fragrances for themselves and are experimenting with a much larger number of scents.
The step up in market activity in the region has led to a few of the big players looking for a piece of the action and a number o high quality trade shows being established. One of the ‘Big 4′ – Beautyworld Middle East is set to be the next massive show to hit the area this year. This year will see an 18% increase in visitors and around 900 exhibitors, showing more than 1,500 brands. Organisers of the event are very happy with the new interest and are already making preparations for next years event
