SAUDI ARABIA AND UAE SPEND ON HAIR CARE EXPECTED TO REACH US$ 566 MN BY 2014
Beautyworld ME attracts leading international players looking to unlock region’s potential
by Biz Com For PRoactive communication Tuesday, April 12, 2011
According to recent market research from Euromonitor International, official knowledge partner of Beautyworld Middle East, the hair care market in the KSA and UAE combined is expected to be worth a staggering US$ 524.2 million in 2012. This figure is expected to reach US$ 566 million by 2014, making the countries of the Arabian Gulf a key target for international hair care majors.*
“Hair care is a quick growing segment in the overall beauty product mix in this region,” said Ahmed Pauwels, Chief Executive Officer of Epoc Messe Frankfurt, who organise Beautyworld Middle East, the largest international trade fair for beauty products, cosmetics and perfumery in the region.
“The harsh climatic conditions that prevail here for most of the year, have led to a boom in sales of products that protect hair from damage and dryness. Traditionally, Middle Eastern consumers are known for their high-spend on hair care products and cosmetics. Beautyworld Middle East provides international brands a vital point of access to this high-powered market,” Pauwels added.
Hair care is set to outperform all other cosmetics and toiletries sectors in the UAE. The sector is projected to grow at a CAGR of 12% (Compound Annual Growth Rate) between the 2008 and 2013 period. Current estimates put the number of hair salons in the UAE in excess of 3,000.
Saudi Arabia is the largest market for hair care products in the GCC, expected to be worth an estimated $428.2 million in 2014, while the UAE is the next largest expected to be worth around $137.8 million* by 2014. The other GCC countries of Kuwait, Qatar, Bahrain and Oman are also significant markets in this sector.
A key growth factor for the industry is expected to be the increase in the population of youth in the region. The countries of the GCC will have some of the fastest growth in populations in the coming years. According to figures released by the Economic Intelligence Unit, the population of the GCC countries is expected to reach 53 million by 2020, with over 25 per cent under the age of 15. An increasing number of young consumers are expected to join the workforce and drive demand for the latest products and services in hair care.
Recognising this latent potential within hair care, Beautyworld Middle East will continue to develop its special features at the trade event. This year’s edition will have two live demo areas dedicated to hair care. Madi Interna-tional will return once more with the Walk of Beauty, powered by Wella Professionals. In addition, and for the first time at Beautyworld Middle East, Salon Educators and MyHairDressers.com in association with L’Oreal Professional will be presenting 3 complete days of free Hair Education, headed up by Steve Turner, Artistic Director for the Salon Educators.
“The Middle East is a key market for us and Beautyworld Middle East provides us with a vital meeting and net-working point to access this vibrant region,” said Steve Turner of the Salon Educators. “With so many hair salons throughout the GCC it is important that professionals are kept up to date with the latest techniques and styles. That is what we aim to achieve at Beautyworld Middle East, by offering free Hair Education to salon profession-als,” Turner added.
Beautyworld Middle East will run from May 24th to 26th, at the Dubai International Convention and Exhibition Cen-tre. The premier networking and sourcing platform in the region for beauty products, cosmetics and fragrances, it will feature a wide range of international brands, innovations, developments and trends in the industry and will attract buyers, retailers, distributors and beauty industry professionals.
*Euromonitor, official Knowledge Partner for Beautyworld Middle East
For more information, please contact:
BIZ COM - For PRoactive Communications
P.O. Box 48889; Dubai - UAE
T: +971 4 332-0888
F: +971 4 332-0999
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