Bright Prospects To Tap Egypt's Personal Care Mart

KUALA LUMPUR, Jan 11 (Bernama) -- Prospects are bright for Malaysian firms to tap the high- and middle-income segments of the Egyptian personal care product market, says the Malaysia External Trade Development Corp (Matrade). It said both income segments tended to opt for either high-end luxury products originating from the US and Europe or intermediary range products (emerging brands). Matrade said the cosmetics and toiletries market in Egypt was worth approximately US$187 million. "It has been growing at an average rate of 15 per cent for the last few years. Growth has come mainly from the low- and medium-priced categories, which account for 80 per cent of the cosmetics market in terms of volume," it said in its magazine, Trademart. Matrade said while Malaysian exporters enjoyed an excellent reputation for quality and reliability, they may face stiff competition from Europe and local manufacturers in view of competitive pricing and attractive soft credit terms. "France and Italy account for the lion's share of the imported cosmetics and perfume market. "The market is dominated by multinational companies, notably, Unilever, Procter & Gamble and Colgate Palmolive," it said. -- BERNAMA