MEA beauty retail market touched $25.7 billion in 2014
Consumers in Saudi Arabia spent $4.8 billion on bath and shower, cosmetics, deodorants, fragrances, hair care, menís grooming, oral care and skin care last year.
Iyad Hijjawi-El, Ahmed Pauwels, Abdulla Abdulqadeer Al Maeeni and Nazih Hamad during the Press conference in Dubai. Supplied photo
Dubai: With a retail value of $25.7 billion in 2014, the Middle East and Africa (MEA) has overtaken Latin America as the world’s fastest growing market for beauty and personal care products, according to a new research.
It is estimated that the beauty market in the region will record a 4.8 per cent annual growth rate between 2014 and2019, which is almost twice the global average of 2.6 per cent, and ahead of the world’s next fastest growing market, Asia Pacific (4.5 per cent growth rate), according to analysts Euromonitor International.
The figures were revealed at a press conference to announce the 20th anniversary edition of Beautyworld Middle East, which takes place from 26-28 May 2015 at the Dubai International Convention and Exhibition Centre.
Consumers in Saudi Arabia spent $4.8 billion on bath and shower, cosmetics, deodorants, fragrances, hair care, men’s grooming, oral care and skin care last year. They join big spenders in Iran ($3.5 billion), the UAE ($1.4 billion), and Egypt ($1 billion) to account for 41.6 per cent of the buoyant MEA beauty market.
The three-day event will continue its record-breaking run that now spans two decades, and will this year feature 1,450 exhibitors from 60 countries covering 48,600sqm of exhibition space - 9.5 per cent larger than the previous year.
“Beautyworld Middle East has over the last 20 years carved out a reputation as being the most celebrated and influential beauty and wellness trade fair in a region that is now the world’s fastest growing beauty market,” said Ahmed Pauwels, CEO of Messe Frankfurt Middle East, the organiser of Beautyworld Middle East.
“One of the show’s main strengths has been its ability to anticipate industry trends combined with a commitment to innovation. This combination has reinforced Beautyworld Middle East’s position in the market, and made its name synonymous with progress,” said Pauwels. The 20th edition of Beautyworld Middle East will coincide with the launch of ‘Centre Stage by Nazih Group’ — a three-day live educational showcase highlighting the latest trends and regulations in the regional beauty industry.
Also new at Beautyworld Middle East 2015 is the Organic and Natural Pavilion, a dedicated platform for manufacturers to showcase their latest organic products and trends as the business of beauty takes an increasingly green tone.
The international flavour of the regional beauty industry’s showpiece event will be underlined by the presence of 24 country pavilions from Brazil, China, Egypt, France, Germany, Hong Kong, Hungary, India, Italy, Jordan, Korea, Morocco, Pakistan, Poland, Singapore, Spain, Taiwan, Thailand, Turkey, Tunisia, UK, United States, Vietnam, and for the first time, Romania.
First-time exhibitors this year will also hail from Croatia, Russia, Slovenia, Denmark, Finland, Sweden, the Ivory Coast, Senegal, Iraq, Peru, and the Philippines, organisers said.
Running alongside the exhibition will be the popular Hair Education by ghd, a three-day professional hair workshop split into two main areas – an inspiration zone and a styling zone.
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