Middle East beauty market set for big growth
cosmetics and personal care products is set to experience major
growth this year as the region's economy and retailers continue to
experience significant growth.
As Dubai closes its doors to the biggest industry expo in the region, a recent Euromonitor survey shows that consumption of cosmetics and personal products in the region should surge by 12 per cent this year to reach $2.1bn ($1.64bn) in 2006.
Consumption of cosmetics is said to be strongest in the Gulf States, where avarege per capita expenditure is currently estimated to be $334 per person - one the highest rates in the world.
One of the biggest individual markets in the region is the UAE, which grew from $382m in 2002 to reach $414m in 2005, and is also expected to be one of the main driving forces behind regional growth in 2006.
Given these figures, it is not surprising that the UAE's capital city was chosen to host Beautyworld Dubai. According to organisers Messe Frankfurt, the show had over 750 exhibitors from 45 countries displaying many innovations that are completely new to the industry and attendance was high.
The event, which ran from 22 to 24 May, is part of an international circuit of trade fairs organised by Messe Frankfurt for the beauty trade, with other Beautyworld events taking place in Japan, Argentina and Germany.
Diana Taylor, Group exhibition manager for Messe Frankfurt stated "the Dubai show is now one of the largest out of the four shows and a major draw in terms of visitors."
Ms. Nelke Van Aspert, CEO, Power-Plate Middle East said that the show's visitor profile matched its customer profile and because of exceptional attendance this year the company had secured a number of new contacts and quality leads.
This year's event featured the Walk of Beauty presented by Kadus. It included leading hair stylists, beauticians, make up artists and professional fashion designers, presenting the latest styles and techniques and products.
In recent months a number of the industry's leading players have made moves to expand their presence in the Middle East in an effort to tap into the regions significant cosmetic and toiletries growth.
In its latest quarter the Body Shop announced that some of its strongest regional growth was derived from the Middle East market, while the beauty retailer announced that it was to expand its franchise throughout the region at the start of the year, particularly in Kuwait and Jordan.
Meanwhile German cosmetics player recently struck up a deal to form a joint manufacturing venture with a Syrian medical producer. The joint venture will mean an investment of €11m in the construction of an all-new facility.
