Beauty

MENA region presents a significant opportunity for companies looking to capitalize on the growing demand for beauty and personal care, according to the Euromonitor Institute. The report found the region has one of the highest per capita spends ($247) in the world and by 2025, the beauty industry in the six GCC (Gulf Cooperation Council) nations – Saudi Arabia, Kuwait, United Arab Emirates, Qatar, Bahrain and Oman – will be worth $2.6 billion. Moreover, the pandemic has accelerated the use of environmentally friendly beauty products in the region. “MENA’s millennials today are eager to read and learn more about the fine print for the products they use and consume daily. Given the nature of beauty and self-care applications, a surge in consumer interest regarding ingredient toxicity, sourcing and formulations has evolved over recent years in the Middle East,” the report states. “54% of female millennials aged 20 to 29 confirmed they were shifting toward simplified beauty routines, making this cohort more selective about the brands and ingredients they use on their skin daily,” it adds. According to the Euromonitor Institute the UAE is the fourth largest market for cosmetic, toiletries and fragrances in the Middle East, with $2.2 billion traded in 2021; personal care segment has the largest share of $518.8m, followed by skin care ($292.5m), cosmetics ($174.5m) and fragrances ($142.7m). On average, money spent on makeup and other cosmetics can amount to $909m a year in Saudi Arabia. We are working to develop and execute growth strategies in MENA Region for Beauty players helping them to achieve full potential; our strategies include the rapid-growth emerging markets and helping our clients to understand the complexity of the region market and identify critical success factors, such as how to design locally relevant product offerings.