In the first semester of 2024, the main global players published satisfying growth numbers in both retail and professional markets. The performance of companies like L’Oréal, Unilever and P&G confirm a positive trend across the global industry which will most probably fulfil the predicted forecast for growth of between 3% and 4% for the next 5 years.
The best-performing sector appears to be prestige beauty, while mass-market and professional are keeping up the pace. E-commerce is leading sales growth, with the latest data showing that online beauty sales grew on average by 10% in all regions, led by Europe and APAC. These markets were boosted by an expansion of e-commerce and social sales in China and South Korea in particular. In his recent visit to Paris, President Xi Jinping addressed the issue of a slowdown in the Chinese economy which has affected the performance of international companies strongly exposed in that market. The signs of recovery make us hope for smoother more solid trade relations between China and European countries in the future.
Trade fairs are experiencing a period of unbelievable success, as they thrive even more than previously expected. Here are some which have proven to offer outstanding export opportunities:
Cosmoprof North America just closed a successful edition in Las Vegas and is all ready to return to Miami from January 21st – 24th 2025.
In the Middle East, some events are becoming larger and more attractive year after year.
Beautyistanbul’s 5th edition from October 2nd – 4th 2024 is bound to break new records.
Beautyworld Middle East in Dubai (from October 28th – 30th 2024) is offering an even wider and more comprehensive hair & beauty industry coverage in the region.
The much-anticipated Saudi Arabian Edition of Beautyworld debuted earlier this year and will return in 2025 from April 21st–23rd.
In Europe (from October 12th–14th), MCB by BS takes center stage in France and is becoming one of the most influential events in the region.
In the Far East, expectations are focused on the Hong Kong Edition of Cosmoprof Asia, which should give us a better idea of how the Asia Pacific region is evolving, while Cosmoprof India also seems to be attracting more attention along with the fairs by Beautyworld Japan.
The opportunities for further growth are fuelled by new, wealthy clients from the Middle East and China who are looking for inspiration in prestige-level products, as well as a wide range of middle-class consumers from Asian and fast-developing African countries.
