Booming Saudi cosmetics market is the largest in the Middle East

Booming Saudi cosmetics market is the largest in the Middle East

The Saudi Arabian cosmetics market saw exceptional growth over 2014, according to Euromonitor, rising 11 percent to reach an estimated value of SR60bn.

The country’s beauty conscious consumers enjoy high levels of disposable income, spending on average SR14,256 annually on cosmetics, with a growth in the younger population further boosting sales. The cosmetic clinic sector is among the fastest growing channels, with a 10-fold increase in the last five years complementing the country’s wide variety of distribution channels, which include OTC, standalone stores, pharmacies, super- and hypermarkets as well as bazaars and souks.

Despite the impact of fluctuating currency prices, rising real estate costs and school fees, the industry is confident that the region’s growth will remain strong in 2015.

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