Beauty industry enjoys phenomenal growth

Dubai: The lucrative beauty and cosmetics industry is set to get even bigger in the region, with some industry experts expecting beauty sales to exceed Dh11 billion by 2010.

This is the prediction of Epoc Messe Frankfurt, organisers of BeautyWorld Middle East, an annual trade fair for beauty products, cosmetics and perfumery held in Dubai.

"Almost 60 per cent of the GCC population is under 25 years old, ensuring a high growth rate in the beauty market. The beauty products and services market is worth more than Dh7.3 billion in Saudi Arabia.

"Beauty sales for the UAE are forecast to exceed Dh3.3 billion by 2010; Dubai accounts for almost 70 per cent of it, amounting to Dh2.3 billion," said Andrea Werner, senior show manager at the exhibition.

Organisers remain upbeat about the continued importance of such trade fairs for the region, despite the slowdown in global demand afflicting other industries. "We feel confident that the C&T (cosmetics and toiletries) industry will continue to experience growth in 2009. It is widely believed that people tend not to compromise with their image or grooming, and also require 'feel good items' during these unstable times," said Werner.

The profitability of the personal grooming market has led to a highly competitive regional market for products and services related to it, especially visible in Dubai, which has elicited interest from retailers across the world.

Nonetheless, regional distributors and retailers of beauty and cosmetic products are treading cautiously in the face of the downturn.

"With the current crisis, there is limited visibility on growth for the year although we are looking at 5 to 10 per cent growth for 2009, but again this is just an estimate," says Chaloub Group, which owns and manages the Faces stores.

What products have you given up recently? Are you looking at cost-effective alternatives? Tell us below.

The cheaper alternatives are widely available. We dont have to spend the fortune on cosmetics to look beautiful. Infact, baby products are equally good and beneficial for adult skin . They are less harmful too
Renu
Dubai,UAE
Posted: January 29, 2009, 17:47