Beauty, personal care spending in Mideast to hit $2.7bn by 2020

Dubai / Emirates Business

The Middle East and Africa (MEA) region is thriving to become the fastest-growing region in beauty and personal care products over the next five years. The MEA’s $25.4 billion (AED93.21 billion) market will grow by 6.4 percent a year during this growth spurt.
Globally, the sector is expected to grow 3 percent a year, according to a report by research firm Euromonitor International. Madi International, one of the top distributors of the world’s leading professional beauty brands across the Middle East and the trendsetter of the region, has further affiliated with bigger brands in order to meet the needs of the ever-growing beauty industry.
Women in this part of the world are exceptionally beauty-savvy – they know exactly what they’re buying and why they’re buying it. One of the key areas expected to grow very fast between 2016 and 2021 will be men’s grooming. Moreover, the UAE has a per capita beauty spend of around $289 (AED1,061), making UAE residents the biggest spenders in the region – and seventh in the world, far higher than the global average of $60 (AED220).
The GCC beauty and retail industry is the place to be right now. It’s a time for big changes and bigger growth. The Gulf is gearing to host the much-awaited and hyped – World Expo 2020, so the growing influx of tourists and market stronghold promise immense development and prospects for existing as well as new retailers in the region. It’s a great opportunity for retailers to capitalize on the market. By introducing innovative products and superior brands in the market, Madi International aims to capitalize on the growing consumer trend in the region and increase its market share.
Mohammed Madi, President of Madi International Group said, “Regional growth is driven by a young and affluent population that has high awareness of fashion and beauty. A recent industry report stated that consumers spent $2.1 billion on beauty and personal care in 2016, and it is further expected to rise to $2.7 billion by 2020.”
He further added, “The market is ready and so is Madi International to ensure that we bring the finest professional beauty brands from around the globe, to the booming GCC market. Patrons can visit any of our showrooms in order to find the most professional and advanced beauty products.”
Apart from the inclusion of premium hair brands Goldwell, Nashi, Kemon & Kevin.Murphy, Madi also added iconic skincare brands Thalgo, Skeyndor, and SpaRitual to its list. ORLY, Entity and LCN – to name a few – are the nailcare brands whose distribution rights have been acquired
by Madi in addition to furniture
and equipment brands like Gamma&bross with more other brands. Madi International has evolved to become the one-stop destination for anything related to the beauty business in the region.
Currently, Madi not only offers a wide range of products, but also 25 years of experience and cultural know-how that position it as a go-to expert inthe beauty industry for any stakeholders.