Demand for cosmetics in UAE is soaring
“Immense” pressure to look beautiful makes the UAE the number one spender on beauty products in the region, researchers say.
Residents here spend more than any other country in the Middle East and Africa - an average of Dhs 880 ($239) each per year in 2015, market research consultants Euromonitor said, as this year’s Beautyworld Middle East got under way in Dubai.
“Whether you’re covered up or not, the importance of looking good in your social circle is immense,” said Amna Abbas, a researcher at Euromonitor. By Shoshana Kedem
The UAE beauty industry is also set to grow 8 per cent this year.
The wider Middle East and Africa is the fourth largest market in the world, at $25 billion.
Over the past five years the Middle East and Africa has been the fastest growing beauty market in the world, led by Saudi Arabia, whose market is valued at $5.3 billion, with a double digit growth of 15 per cent.
The UAE, with a much smaller popula- tion, is in third place with a market share of $2 billion.
Harsh weather, high disposable income and a young, increasingly health conscious population are also drivers of this growth, as reflected in product sales, the Beautyworld summit heard.
Ahmed Pauwels, the CEO of Beautyworld organisers Messe Frankfurt Middle East, said: “The GCC is already the highest in the world’s spender per capita (on beauty).
“The potential that will be unlocked for Dubai will be in Africa, where it’s only $18 dollars per capita.” He compared that to the UAE where spending is $239.
“This could mean more jobs in Dubai, especially in the imports and exports sector." Sheer demand for perfume in the Middle East mean that fragrance will be one of the fastest growing products, the Euromonitor report added.