Dubai decks up for cosmetics show
Dubai, March 15, 2008
Cosmetics and fragrance manufacturers from around the world will converge in Dubai this May to participate in the Beautyworld Middle East exhibition.
The event, which will run from May 18 to 20, will see companies tap the affluent Gulf states which boast one of the highest per capita consumption of cosmetics and fragrances in the world.
“According to a recent survey, consumption of cosmetics and fragrances in the Gulf States is among one of the highest per capita in the world with the average purchase estimated in the region of Dh1,229 ($334) per head,“ said, Eckhard Pruy, CEO of Epoc Messe Frankfurt.
“The last couple of years were an extremely healthy period of growth for the industry. In 2006, the cosmetics and personal care market in the UAE alone was worth more than Dh1.5 billion in retail sales - an increase of 8.4 per cent from Dh1.406 billion.“ added Pruy.
“Skincare accounts for 10 to 15 per cent of the Middle East beauty sector market, where reports stated the total value of beauty product sales in the Middle East was Dh7.7billion in 2007,“ said Andrea Werner, senior show manager of Beautyworld Middle East.
“With a growing population, huge expansion in retail space and tax free incomes, it is hardly surprising that the purchase of beauty products in the Arabian Gulf has been rising at over 19 per cent per year.'
'The region has one of the world's fastest growing populations, rising at around 6 per cent annually and with over 60 per cent of the population being under 25, this is an exciting area for beauty products,' she added.
This market achieved a five per cent Compound Annual Growth Rate (CAGR) 2001-2006 in fixed exchange rate terms and according to Euromonitor’s latest analysis, demand for products that claim to be natural or organic is one of the key drivers behind this dynamism.
Highlights of this year’s exhibition is a fashion show, and competitions that are much anticipated by regular visitors to the show.-TradeArabia News Service