Indian fragrance firm targets 30-40 pc growth in Middle East market

Dubai, Oct 28 (PTI) Indian fragrance and flavour company Sacheerome is targeting a 30-40 per cent annual growth in the Middle East market as it deepens its footprint in the region, aiming to establish Dubai as its second home, Chief Perfumer and Managing Director Manoj Arora has said.
     Speaking to PTI on the sidelines of the Beautyworld Middle East Expo 2024, in which the company is showcasing its products, Arora said the company's expansion aligns with a global vision to lead in niche fragrance and flavour experiences by 2030.
     "We aim to become a global leader in unique fragrance and flavour experiences by 2030. We are eying a growth of 30-40 per cent year-on-year in the Middle East region," Arora said.
     "We have world-class R&D and robotic manufacturing in India, and establishing an R&D, Application, Evaluation Center, and Warehouse in Dubai will sharpen our ability to meet regional demands faster and more creatively, Arora said.
     "India's rich resources and lower operational costs give us a strong competitive edge," he added.
     With the Middle East and Africa (MEA) flavour and fragrance sector valued at USD 2.92 billion in 2023, and projected to grow to USD 4.16 billion by 2032, the region represents significant growth potential.
     The Gulf Cooperation Council (GCC) market alone is forecasted to expand at a CAGR of 4.9 per cent, bolstered by high consumer demand for premium and locally tailored products.
     According to Arora, "Middle Eastern consumers are now favouring niche fragrances that combine traditional scents like Oud and Assam's Natural Agarwood with global trends -- a movement that underscores Dubai's position as a style and lifestyle leader."
     In addition to the UAE expansion, Sacheerome is broadening its reach in Asia-Pacific, targeting Indonesia as a major base to supply Far East and Central Asian markets.

(This story has not been edited by THE WEEK and is auto-generated from PTI)