Beauty and wellness majors target lucrative African market through Beautyworld Middle East 2015
Sub-Saharan African beauty and cosmetics market to reach US$11.8 billion in 2017. Sub-Saharan Africa’s growing economy and favourable demographics have turned the region’s beauty and wellness market into a melting pot of opportunity according to a recent study, with Dubai holding the key to a market that promises a glowing future.
A study commissioned by Messe Frankfurt Middle East, organiser of Beautyworld Middle East, revealed the value of sub-Saharan Africa’s beauty and cosmetics market will grow from US$8.8 billion in 2014 to US$11.3 billion in 2017 – rocketing ahead by 9 per cent annually, compared to the four per cent global average growth rate. South Africa and Nigeria are at the forefront of the surge the report said, followed closely by the other key African frontier markets of Kenya, Tanzania, Ethiopia, Ghana and Cameroon. With a predominantly young population and growing middle class – the biggest consumers of beauty and wellness products – the African land mass south of the equator is firmly in the sights of leading global beauty brands, many of whom will be rolling out welcome mats for African trade buyers at Beautyworld Middle East 2015.
Taking place from 26–28 May 2015 at the Dubai International Con-vention and Exhibition Centre, the three-day event has established itself as the prime gateway for international beauty majors looking to do business in new and emerging markets.
Beautyworld Middle East 2014 Review
Messe Frankfurt Middle East’s February 2015 report, called ‘Under-standing the East African Beauty Market’, was published by Business Guide Africa, and focused primarily on Kenya, Uganda, Tanzania, Ethiopia, and Mozambique.
According to the report, the beauty and cosmetics market in the five countries was worth approximately US$1.3 billion in 2014 and is pro-jected to grow to US$1.8 billion by 2018.Hair care products form the largest and most diverse market seg-ment with a variety of competing brands and products, and valued at US$282.3 million in 2014. Consumers also spent US$221.1 million on skincare, US$191.3 million on colour cosmetics and US$146.4 million on fragrances. Beautyworld Middle East has recently been attracting a growing number of African trade visitors looking to connect with leading inter-national producers and manufacturers of genuine beauty products; in 2014, the dedicated platform saw a 12 per cent increase of visitors from the world’s second largest continent (1,500 visitors).
The opportunities in the populous region are clear, and haven’t gone unnoticed by top European companies who view Dubai and Beau-tyworld Middle East as the gateway to an untapped market. Beautyworld Middle East. Having successfully established their brand name in Italy, the com-pany now has its sights set on the Middle East and Africa.
“We believe that Dubai has become the gateway to the Middle East and Africa for any beauty and wellness company that is looking to expand its activity abroad”, said Alessandro Magnani, Owner and Partner of Terradisole.
“Beautyworld Middle East is our chance to remind the world of the high quality beauty brands with the Made in Italy tagline. We are looking forward to growing our brand awareness, and expect re-markable business growth in 2015 and for many years ahead.”
Spanish company Lakme Cosmetics will also be at the show to enter new markets with its latest haircare range, including dyes, styling, and treatment products.
“We are looking to meet with our importers as well as establish fresh business prospects at Beautyworld Middle East,” said Maurizio Doria Tolle, Manager at Lakme Cosmetics in Asia Pacific, Russia, Middle East and Africa.
“The Middle East is already one of our major business regions and we are looking for partners to take the brand to other key markets such as those African countries where we are not yet present.”
Beautyworld Middle East 2015 is the Middle East and Africa’s largest trade fair for beauty products, hair, fragrances, and wellbeing, focus-ing on the key areas of Cosmetics & Skincare; Hair, Nails, & Acces-sories; Fragrances; Machinery, Packaging & Raw Materials; and Professional Equipment & Spa.
BeautyWorld Middle East 2015