Opportunities in packaging for cosmetics and in hair and personal care products were underscored in the run-up to Beautyworld Middle East.
Euromonitor International, cited by organisers of the tradeshow on 27-29 May, calculate that the Middle East and Africa (MEA) beauty and personal care market is outpaced only by South America in its rate of expansion over the last six years.
Annual sales in the region hit $24.4bn last year and are on track to crack $30bn by 2018, according to the consultancy.
“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 on 14 May.
“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.”
According to Euromonitor, fragrances were at the forefront of MEA beauty and personal care sales in 2013, accounting for 19% ($4.6bn) of total sales. Hair care came next at 17% ($4.1bn), followed by colour cosmetics and skin care product segments, tied at 13% ($3.1bn) each.
With sales totalling US$4.1bn for the year, Saudi Arabia was the largest regional market. However, the UAE led in per capita spend, with its consumers each splashing out $156.
Packaging and raw materials form one of five elements at the upcoming tradeshow at Dubai’s World Trade Centre.