Arab States Has Massive Growing Perfume Market
There are more fragrances around to day than there have ever been before. Some vintage, some brand new, some that make a statement, and some that are gentle hints. Perfume fragrances are sourced from every continent on earth but the biggest markets tend to be in the west.The more fashion centred and traditionally wealthier western world makes up most of the market sales, but may not be the chase for too long. The market in the Arab states is growing rapidly and this expansion is attracted lots of new business
There is steady growth in the market all round at the moment, with the industry reportedly being worth around $35 billion by 2012. around $280m of this is made up by the Arabian Peninsula, but the difference is that their growth rate is exceptionally higher. For example, total sales last year were up around 15 percent.
The staggering growth in the market, shared with Asia-Pacific and the Middle East, has been put down to increased money in the area and a differing way of life.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 high market 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.
This growth in the market has attracted some big name companies and has seen the emergence of a number of trade shows. Beautyworld is the next large event to take place in the Middle East, which happens to be among the top 4 biggest shows of its kind. A 20% increase in numbers from last year will mean that over 1500 brands will be shown off by approximately 1000 exhibitors. Work is already being carries out on next years show as organisers predict even greater growth in the near future
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