- Nigeria, Others Target $34bn Beauty, Personal Care Market
Nigeria has been advised to take advantage of the growth in the beauty and personal care industry estimated to reach $34.5bn by 2021 in the Middle East and Africa.
Experts including the Director, Registration and Regulatory Affairs , National Agency for Food and Drug Administration and Control, Dr. Monica Eimunjeze; and the Regional Brand Development Manager, Messe Frankfurt Middle East, Abdelrahman Kurdieh, gave the indication in Lagos.
A statement obtained via email said the experts spoke at a roadshow organised to highlight the opportunities of the 23rd beauty world fair, which is expected to host industry players in Dubai in May next year.
Stakeholders reportedly expressed optimism about the outlook of the beauty industry in the country and advised enterprising Nigerians to utilise the opportunities.
Eimunjeze, for instance, said the country could boast of opportunities in the beauty products, especially with abundance of raw materials, noting that the right platform was critical to help the sector contribute meaningfully to the GDP.
She said that number of the Small and Medium-scale Enterprises in the sector had been on the increase, adding that the agency was committed to addressing challenges being faced by most players.
Kurdieh said that the region’s beauty and personal care sales were expected to reach $34.5bn by 2021, up from $30bn in 2016,
He was optimistic that the Middle East and Africa would be the driving force for the future growth of the global economy.
He also said that the next edition of the international trade fair for beauty products, hair, cosmetics, fragrances and wellbeing would boost the sector’s contribution to the Nigeria Gross Domestic Product.
According to him, the Dubai fair fixed for May 8 – 10, 2018, hosted about 1,568 exhibitors in 2017 with 41,898 visitors.
While stressing the need for Africans to attend the event as exhibitors, Kurdieh said, “Visitors’ numbers from the African continent continue to progress with a growth of over 300 per cent since 2014. In 2017, they represent five per cent of our total visitors.”
He stated that the exhibition would showcase six basic product groups such as hair, nails and salon supplies, cosmetics and skincare; machinery, packaging and raw materials; personal care and hygiene; fragrance compounds and finished fragrance.
He added that the company had introduced a business matchmaking programme to facilitate business connections between exhibitors and visitors.
“The business matchmaking programme is a vital tool for exhibitors and visitors pre-show, which allows them to efficiently set their meeting agendas for maximum benefit – it’s about meeting the right people in the right place at the righ, “ Kurdieh said.