Consumers in Saudi Arabia and UAE spent 6.85 billion Dollar on beauty products in 2015 MARKET
(Dubai-NewsHalal, Rabi`II 21, 1437, January 31, 2016) Consumers in Saudi Arabia and UAE spent 6.85 billion US Dollar on beauty and personal care products in 2015, according to market research firm Euromonitor International.
Figures revealed that UAE and Saudi consumers spent $1.64 billion and $5.21 billion respectively on beauty products last year.
The countries overall spending is set to rise by eight percent in 2016 to reach $7.4 billion.
In the UAE, consumers spent $423 million on fragrances, $258 million on haircare, $168 million on colour cosmetics, and $165 million on skincare.
In Saudi Arabia, consumers spent $1.7 billion on fragrances, $697 million on haircare, $635 million on skincare, and $503 million on colour cosmetics.
The beauty and personal care industry in Saudi Arabia continued to witness strong growth due to factors such as a growing young population, rising disposable incomes and expanding number of domestic and global cosmetics, fragrances and personal care brands in the Kingdom.
Beauty and personal care in the United Arab Emirates is expected to register further healthy growth. Whilst the mass segment will benefit from the strong influx of expatriates and an increasing interest in value-added products, the premium segment will be further supported by increasing numbers of inbound tourists, eager to find gifts for friends and family back home.
The two countries make up a quarter of the Middle East and African beauty and personal care market while the region’s market was worth $27.1 billion in 2015, a 5.4 percent rise from 2014.