The Beauty Market in Iran: Cosmoprof Worldwide Bologna seizes the opportunity
Cosmoprof Worldwide Bologna seized the opportunities in the beauty market in Iran thanks to the executive order revoking international sanctions signed on January 16, which allowed the country to restore international trade relationships. Bologna Fiere Cosmoprof, in collaboration with Cosmetica Italia – The Personal Care Association and Promos, organised the first Italian Pavilion in Teheran between April 24 to 27 at Iran Beauty & Clean – the most important trade show dedicated to the beauty industry in Iran. The event was attended in 2015 by 282 exhibitors coming from 11 countries.
This participation is part of the collaboration agreement signed by Bologna Fiere Group and the International Trade Fair in Teheran on May 2015. For Italian companies participating in the project it is a unique opportunity to enter the Iranian market, which thanks to recent international openings can offer important opportunities for economic development for Italian industries.
The Italian companies attending are Antica Erboristeria, Bottega Verde, Cosmoproject, ItalCosmetici, Oyster, Parisienne, Trivellato Dermocosmetics.
The Iranian population is very young, most of the 70 million inhabitants are between 15 and 45 years, and represent 29% of the Middle-Eastern market for cosmetics. After the difficulties of the years of the revolution, since 2002 the market has been liberalised and today it represents good opportunities for both direct sales and partnerships with local industries.
The estimated domestic demand is of about 30 million consumers, the majority of them shows interest in hair products and skin care, perfumes, cosmetics for the eyes, deodorant sprays, lacquers, food supplements, herbal products, and they spend about 2 billion dollars a year for products for personal care. In particular, the local industry is in search of essences and raw materials, machinery for the packaging and filling machines.
The Iranian market offers great potential for the finished product, as consumers, especially those in the most affluent social classes, prefer to buy imported goods, which are more prestigious and trendy.