Dubai, UAE: The Middle East and Africa is poised to be the world’s second fastest growing beauty market, as Saudi Arabia, Iran, and the UAE held a 37 per cent share of the region’s US$25.5 billion of beauty and personal care retail sales in 2014, according to global market intelligence firm Euromonitor International.
The value of the MEA region’s beauty and personal care market will grow 4.25 per cent annually to reach US$30 billion in 2018 says Euromonitor, compared to a global growth average of just 2.9 per cent annually over the next four years.
The fast-growing regional market, which covers bath and shower, cosmetics, deodorants, fragrances, hair care, men's grooming, oral care and skin care, is driven by big spenders in Saudi Arabia, Iran, and the UAE, who accounted for US$9.5 billion in sales last year.
These three countries also make up nearly 70 per cent of the trade visitors to Beautyworld Middle East, the region’s largest international trade fair for beauty products, hair, fragrances, and wellbeing.
Messe Frankfurt Middle East, organiser of Beautyworld Middle East, expects the 20th edition of the three-day event to enjoy another record-breaking year when it opens its doors from 26 – 28 May 2015 at the Dubai International Convention and Exhibition Centre.
Topping beauty and personal care sales in the MEA region in 2014 were fragrances, accounting for 20 per cent (US$5 billion) of the US$25.5 billion total, according to Euromonitor.
This was followed by hair care items with a 17 per cent share (US$4.4 billion) in sales, while colour cosmetics and skin care each accounted for 13 per cent of sales, at US$3.4 billion each.
Continuing recent trends in the industry, Saudi Arabia holds the largest market share by value and growth at US$4.5 billion (17.6 per cent market share) while the UAE is the largest in per capita spending on beauty and personal care products (US$163).
For its part, Beautyworld Middle East has grown at a compound average growth rate of 16 per cent since 2011, mirroring the growth of the regional beauty and wellness market. In 2014, a record 28,632 trade visitors from more than 120 countries gathered to discover the latest products and services from 1,368 exhibitors from 52 countries.
Beautyworld Middle East 2015 will focus on five key areas of Cosmetics & Skincare; Hair, Nails, & Accessories; Fragrances; Machinery, Packaging & Raw Materials; and Professional Equipment & Spa.
As the preferred trade platform for the beauty and wellness industry in the wider region, Beautyworld Middle East continues to be a launch pad of choice for a myriad of exhibitors looking to gain traction in the market.
Among those debuting new products at the show will be Turkish makeup manufacturer Erkul Kozmetik under the brand name Golden Rose, which will launch its latest range of foundation, nail lacquer and eyebrow powder.
“As one of the top five nail lacquer producers in the world, we always target rapidly developing markets,” said Ugur Adiyaman, Export Manager at Erkul Kozmetik. “With this aim we participate at Beautyworld Middle East in Dubai which is a centre for trading not only for Middle East but also for Africa and for Far East.”
LUZI fragrance compounds, a well-established fragrance house from Switzerland, is looking to further business links in the region as Gold Sponsor at Beautyworld Middle East.
“The Middle East is one of our most important markets,” said Juerg Koller, CEO of LUZI fragrance compounds. “The long-term cooperation with our partners and clients in this region go all the way back to our market entry in 1982”.
“In this regard, we are using the network opportunity of Beautyworld Middle East to welcome our existing and new clients alike to discover our world of inspiring fragrances.”
Special highlights at Beautyworld Middle East 2015 include the Beautyworld Middle East Boutique; Hair Education by Ghd; Nail It! by OPI and Nazih Group; Fragrance Station; and the two-day Spa and Salon Summit, taking place from 27-28 May.
The strong international flavour of the three-day event will be reinforced by 29 country pavilions from Argentina, Bahrain, Brazil, China, Egypt, France, Germany, Hong Kong, Hungary, India, Ireland, Italy, Jordan, Korea, Malaysia, Morocco, Pakistan, Poland, Romania, Singapore, South Africa, Spain, Taiwan, Thailand, Tunisia, Turkey, UK, USA, and Vietnam.
Further information can be found at: www.beautyworldme.com