Dubai The beauty and cosmetics industry is expected to increase globally by 8.5 per cent in 2014 according to recent research from Euro Monitor International, representing one of the few markets that continues to grow despite the general slowdown in the worldwide economy.
Market forecasts indicate that the global beauty and cosmetics industry is on a high-growth path, with the market for premium cosmetics expected to be worth around Dh314.2 billion ($85.54 billion) by 2014 compared to Dh289.5 billion ($78.82 billion) in 2009.
Beautyworld Middle East, the largest international trade fair for cosmetics, beauty products and perfumery in the region, opens for business today at the Dubai International Convention and Exhibition Centre will run until June 3. The exhibition is being held under the patronage of Shaikha Dr Hind Bint Abdul Aziz Al Qasimi, Chairman of the Emirates Business Women's Council who will attend the opening ceremony with senior officials from show organiser Epoc Messe Frankfurt GmbH.
Shaikha Dr Hind commented: "The beauty and cosmetics business in the UAE has been very strong, particularly in recent years. We all like to look and feel good and so this industry continues to grow. I love to see the latest products and services available on the market and am delighted to support this exhibition which helps to bring the latest international products to the region through key distributors. I wish the very best of luck to show organisers and expect they will have a very successful event."
Beautyworld Middle East has attracted over 700 international exhibitors displaying the latest trends in the cosmetics and beauty industry. This year's edition has registered a 15 per cent increase by UAE companies as well as an incredible 50 per cent increase in companies exhibiting from the US.
"The priority people place on taking care of their appearance cannot be over-emphasised in this region. We have seen growth this year in the number of exhibitors and are delighted to note that there has been a significant increase from both local and US exhibitors. This clearly shows the surging demand for beauty products and services and that the industry continues to grow in this region," said Ahmad Pauwels, Chief Executive Officer of Epoc Messe Frankfurt.
One of the major attractions at this year's event will be the Walk of Beauty. Brought by MADI International, in association with The Hair Group and its subsidiary Salon Educators and myhairdressers.com, the Walk of Beauty will feature interactive demonstrations in hair cutting and colouring.
