The Middle East and Africa (MEA) market for beauty and personal care grew eight per cent year-on-year from 2008 to 2013, with sales reaching US$ 24.2 billion in 2013, new research has revealed.
According to leading analysts Euromonitor International, the MEA region was second only to Latin America as the fastest growing global market for beauty and personal care products over the past six years.
With annual sales expected to exceed US$30 billion by the end of 2018, the region continues to forge ahead as one of the new growth frontiers for personal care and beauty products.
The impressive growth is also matched by Beautyworld Middle East, the largest international trade fair for beauty products, hair, fragrances, and wellbeing in the Middle East.
Taking place from 27-29 May at the Dubai International Convention and Exhibition Centre, the three-day event has grown by 24 per cent this year, and is set to welcome more than 1,300 exhibitors from 52 countries eager to tap into the lucrative MEA market.
“The Middle East and Africa region has evolved as one of the most influential global markets for beauty and personal care,” said Ahmed Pauwels, CEO of Epoc Messe Frankfurt, organisers of Beautyworld Middle East, at the event’s official press conference today.
“The significant power shift in the beauty sector toward emerging markets is still on track, and this region is at the forefront of big spenders on beauty and personal care products.
“Beautyworld Middle East’s constant growth also reflects the international significance of this region. As global brands continue to engage with regional buyers we expect them to increasingly adapt their products to align with local tastes and preferences.”
According to Euromonitor, fragrances were at the forefront of MEA beauty and personal care sales in 2013, accounting for 19 per cent (US$4.6 billion) of total sales. Hair care (17 per cent, US$4.1 billion), colour cosmetics and skin care (both 13 per cent, US$3.1 billion) were the next largest product segments for the region.
Meanwhile, Saudi Arabia was the largest regional market with sales worth US$4.1 billion for the year, while the UAE led the way in per capita spend, with consumers spending US$156 per head.
Now in its 19th edition, Beautyworld Middle East 2014 brings together an unmatched range of international and regional exhibitors, representing leading global brands in one of the world’s most exciting marketplaces.
The showpiece event will feature exhibitors from Lithuania and Peru for the first time, while country pavilions from Singapore, Ireland, South Africa, and Malaysia will also make their debut.
Beautyworld Middle East 2014 focuses on the five integral show elements of Cosmetics & Skincare; Fragrance; Machinery, Packaging and Raw Materials; Professional Equipment and Spa; and Hair, Nails & Accessories.
Key features of the 2014 edition include Beautyworld ME Boutique; Fragrance Station; Walk of Beauty by Madi International; Nail It! by OPI and Nazih Group; Hair Education by Ghd; and the two-day Spa and Salon Summit, taking place from 27-28 May.