Sustainable growth
Manufacturers of sustainably produced beauty products are looking to flourish in the Middle East and African cosmetics market that is estimated to be worth $2.5 billion.
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dubai — International manufacturers of ethically-sourced and sustainably-produced beauty products are looking to flourish in a Middle East and African natural and organic cosmetics market that was estimated to be worth between $2.25 billion to $2.5 billion in 2017.
The growing global preference for clean, green and sustainable beauty products has also taken root in the MEA, with analysts TechSci Research indicating the regional market for natural and organic cosmetics could grow annually by 12-15 per cent over the next five years.
That would place the retail value anywhere between $4 billion to $5 billion by 2022, driven, according to TechSci, by increasing consumer awareness and demand for products that are not only better for their health, but better for the environment and society overall.
The rising trend has been highlighted by a dedicated natural and organic section being introduced for the first time at the upcoming Beautyworld Middle East 2018 exhibition. More than 60 of the 1,600-plus exhibitors at the threeday event will be part of the new section with their certified organic and natural products in tow.
Beautyworld Middle East takes place from May 8-10 at the Dubai International Convention and Exhibition Centre.
The world’s leading fragrance creation houses are taking inspiration from the Middle East to produce their latest perfumes, using the region’s rich history and passion for fine fragrances to reveal potential future trends in global markets.
In the GCC, consumers spent $3 billion on fragrances last year, with Saudi Arabia ($1.8 billion) and the UAE ($674 million), the two big spenders.
The market here will continue its steep rise over the next four years according to EMI, with the GCC’s retail value of fragrances estimated to be worth $3.6 billion in 2021, of which $2.1 billion will be attributed to Saudi Arabia, and $807 million to the UAE.
Beautyworld’s international participation will also be highlighted by 22 country pavilions.
— business@khaleejtimes.com