Cosmoprof On the Road stops at Nairobi
Cosmoprof Worldwide Bologna met the main players of the Kenyan cosmetics market during the stage of Cosmoprof On the Road in Nairobi. An opportunity for confrontation and in-depth analisys concerning the features of the local market and a way to build new relevant partnerships. The event opened with the greetings of Sfrash Zewdu Fetene- Trade Analyst ICE from Addis Abeba, on behalf of the Embassy and ICE.
During the meeting we had the chance to investigate the issue of counterfeiting in Kenyan cosmetics market, thanks to the speech curated by the law firm Roedl and Partners . The attendees were also able to learn about the experience of the company Ashleys Kenya, which took part in Buyer Program at Cosmoprof 2018.
Kenya’s Beauty and Cosmetics industry has become a new hub of investment that is dragging in large amount of money from all over the world. As a trend forerunner, Cosmoprof introduced Nairobi in the 2018-2019 Roadshow Calendar to create new partnerships and to encourage successful local enterprises to face international markets. Il Kenya rappresenta un nuovo polo di investimento molto importante che sta attirando investitori da tutto il mondo. Cosmoprof Worldwide Bologna therefore becomes an essential appointment for Kenyan companies, especially in relation to forecasts about beauty and personal care market. Actually, in the coming 5 years, beauty and personal care market is expected to see a steady increase in volume, increased competition among local and international players.
The main drivers of the growth of Kenyan economy include a strong population growth, a growing number of people belonging to the middle-class and an educated workforce. The growth of the beauty and personal care market in Kenya is indeed attributed to the economic restructuring and regional integration measures embraced by many governments in the region which has, in turn, generated a rising middle class.
Enhancement and change in the current lifestyles of Kenyans have been among the key point to the considerable growth of the Kenya Beauty and Cosmetics industry. Currently cosmetics consumers have become more aware regarding the value of cosmetics in their daily lives in an effort to improve their style quotient and overall personality.
The growth of the beauty and personal care market in Kenya, linked with the fact that Kenya is identified as the sales and distribution hub for the larger East African market, has attracted many international brands. Kenya’s use of personal care cosmetic products ranks third behind South Africa and Nigeria.
Large scale of cosmetics companies have been raising their sales in emerging markets like Kenya, where the beauty industry is valued around 1 billion USD, as buyers become more attentive about market requirements.