Saudi Arabia, UAE Lead Region As Sector Set For Rapid Growth
This growing focus on the region is underlined by the increase in skincare-related exhibitors at Beautyworld Middle East 2014.
April 13, 2014 (Newswire.com) - International skincare product manufacturers and suppliers continue to regard the Middle East as a market of immense potential even as increasing numbers of them make a beeline to the region to tap into that growth.
This growing focus on the region is underlined by the increase in skincare-related exhibitors at Beautyworld Middle East 2014, which has witnessed an explosive 76% surge in the number of cosmetics and skincare sector participants this year as compared to 2013.
Saudi Arabia and the UAE lead the region in consumption of skincare products, which includes facial care, hand care, depilatories and sun care products. Leading analysts Euromonitor International, ascribes this growth to rising income levels led by resurgent economies, as well as the increased demand for skincare services by the large numbers of hotels and spas servicing the booming tourist sector.
Consumers in the region are increasingly in the market for skin whitening, sun care and anti-ageing products," said Ahmed Pauwels, CEO of Epoc Messe Frankfurt, organiser of Beautyworld Middle East. "This year we are experiencing first hand the growing international attention towards the region with a large scale increase in cosmetics and skincare exhibitors set to participate at this year's show."
Euromonitor International estimates that the average per capita spend on skincare by Saudi consumers, would reach $20.90 in 2017
As compared to $17.60 in 2012. Consumers in the UAE are not too far behind, with their per capita spend in 2017 expected to reach $19.90 as compared to the $15.90 they spent five years ago.
The continuing trend of spa treatment products being modified for the mass market is expected to continue to gain momentum, according to Euromonitor International. Trends in professional spa and cosmetic dermatology have a significant impact on retail skin care trends and new product developments in both the mass and premium segments are expected to be closely linked.
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