Cosmoprof, a leading fair for the cosmetics and beauty industry, has been actively seeking to involve new markets into its global exhibitions.
Recently executives from the fair's organizers, BolognaFiere (Italy) went to Saudi Arabia to raise awareness for the fair in the fast growing Middle East market.
"Cosmoprof Worldwide Bologna is the most performing business platform in the world, and it can certainly be a quality showcase for the growing industry of Saudi Arabia and Kuwait. In Bologna, buyers, retailers and local distributors can discover a preview of the news for the beauty sector, identifying the proposals that best meet the high quality standards of the Saudi population, " said Gianpiero Calzolari, President of BolognaFiere, in a statement.
"The Riyadh event coincides with a particularly favorable moment for Italian cosmetic exports," said Enrico Barbieri, Director of the Riyadh Office of ICE, noting that "with a growth of over 60% in the first eight months of this year compared to the same period in 2018. Italy is the leading country in Saudi Arabia in the make-up products for lips, eyes and skin".
Saudi Arabia is the best performing market in the Middle East and Gulf countries. The population is constantly growing, and the high disposable income, the recent opening to tourism and the expected growth of the industry lead the experts to hypothesize an increase for the beauty sector of more than 5% per year until 2022.
The development of cosmetics in the country is influenced both by the improvement of the conditions of the female population, which today has access to advanced education and therefore to significant job positions, and by younger population, which is acquiring greater awareness of the importance of taking care of one's own image. The development of digital media favors the search for ethical and natural products, therefore influencing both multinationals and local producers.