JEDDAH: Saudi Arabia's fragrance and cosmetic sector is set to post the biggest increase in sales this year, with total sales reaching $1.1 billion, of which cosmetic sales will account for $292.3 million this year. Fragrances, meanwhile, are forecast to jump from $821 million in annual sales this year to $939.2 million by the end of 2014. Growth in demand for fragrance and cosmetic industry, in the GCC alone, total sales are expected to exceed $1.6 billion by year end, $500 million in color cosmetics and $1.13 billion in fragrance sales. According to Euromonitor International, by end of 2014, the sector could increase by 15.1 percent to reach annual sales of $1.88 billion - $578.5 million in cosmetics and $1.3 billion in fragrances respectively. "The fragrance market in The Kingdom of Saudi Arabia and the wider region remains an exciting one with tremendous potential for growth," said Ahmed Pauwels, chief executive officer of Epoc Messe Frankfurt, which organizes Beautyworld Middle East, the foremost trade event in the region 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 Gulf lifestyle and there is a higher disposable income." "Beautyworld Middle East, with its region-wide footprint, gives leading perfume houses and fragrance products a first-hand look at this burgeoning market. Retailers and wholesalers from the region also use the event to scout for new deals, sign up new suppliers and place purchase orders," Pauwels added. 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. Leading perfumers and fragrance manufacturers from the region participating in Beautyworld Middle East this year include: Nooranji Perfumes, Swiss Perfumes, Oud Al Anfar, Eurofragrance, Amalia Perfumes, and Swiss Arabian from UAE; Al Atarji and Al Khuraiji from Saudi Arabia; Zahreddine Trading and Al Awani from Lebanon and Al Masmoun Aquador and Al Masmoun Oyunico, from Syria. Beautyworld Middle East 2011 will be held at the Dubai International Convention and Exhibition Centre on May 24-26. In 2010, the event featured 700 international exhibitors and attracted over 16,000 international trade visitors. The exhibition is the largest international trade fair for beauty products, hair, fragrances and wellbeing in the Middle East and has played a major role in the growth and development of the industry in this region over the last fifteen years.
