Dubai: cosmetics trade is hot, demand for perfumes is huge
The United Arab Emirates has a strong perfume culture and local residents love to use perfumes for both men and women. In addition, as a tourist attraction, Dubai attracts a large number of tourists from Russia, Western Europe, Africa and other countries and regions. They are also important perfume consumers.
France is the largest source of imported perfumes and cosmetics in Dubai, while Saudi Arabia and Oman, its neighbors, are important export destinations.
According to recent reports by the U.S. Gulf News in the U.S. Gulf, the trade volume of foreign perfumes and other cosmetics in 2013 reached Dh18.0 billion, an increase of 9% over 2012. Of this, 11 billion dirhams were imported, 2 billion were exports, and 5 billion dirhams were exports. Dubai is an important transit place for trade. After many commodities are imported, they are again exported to neighboring countries.
Among the various types of cosmetics, the highest volume of trade in perfumes accounted for 21% of total cosmetics imports, which amounted to 2.4 billion dirhams. At the same time, it accounted for 28% of total exports and exports, and reached 2 billion dirhams.
According to Ahmad Kazim, the Dubai customs manager, “The trade of perfumes and other cosmetics reflects the charm of Dubai as a trading port. Dubai has attracted all kinds of goods as trade transit and distribution centers. Dubai has good ports, airports and trade. Infrastructure such as the Free Zone provides efficient navigation, transportation and customs services."
France is Dubai's largest trading partner for perfumes and other cosmetics. The two sides traded 3 billion dirhams, followed by the United States, with Dh 1.5 billion, followed by Saudi Arabia, with Dh 1.2 billion, trading with the United Kingdom and Germany. The amount is 1 billion dirhams.
France is the largest source of imported perfumes and cosmetics in Dubai, while Saudi Arabia is the largest exporter of perfumes exported from Dubai, followed by Oman and Egypt.
There are many reasons for the rapid growth of the water market, including the increase in consumer purchasing power, the increase in the number of tourists, and the development of the perfume retail industry. In addition, more funds are flowing into the perfume market, and retailers have developed more varieties of perfumes, and consumers have more choices.
Hugo.com has learned that last year, the per capita consumption of perfumes in the United Arab Emirates was approximately $135 and it is expected to increase to $156 by 2018. By then, the per capita perfume consumption in the UAE is expected to reach the second position in the world. At present, high-end perfumes account for 81% of the market, and the share of low-end perfumes is 19%. However, mid-range perfume brands are becoming more and more popular, but this does not mean that such perfumes will lead the market in the future. Locally, the most successful perfume companies are multinational companies, not local companies.