Gulf nations, particularly Saudi Arabia and the UAE, are home to the world’s highest consumption rates of cosmetics, according to a study conducted by Epoc Messe Frankfurt and published by the London-based newspaper Asharq al-Awsat.
Saudi Arabia ranks first among Gulf nations, followed by the UAE, in consumption of skin and hair care products, the findings revealed. Both countries are also among the world’s fastest growing cosmetics markets, a study conducted by Beauty World Exhibition disclosed.
Each Saudi woman spends an average of 14,000 Saudi riyals ($3,733) per year on cosmetics, estimates suggested.
Latest statistics suggest sales of skincare products in Saudi Arabia were estimated at $397.2 million in 2010 and are expected to reach $502.9 million in 2015 – a growth rate of 26%.
The UAE market is the second biggest Gulf market where cosmetics sales are expected to reach $331.3 million in 2014 compared to $267.4 million in 2011 – a growth rate of 24%.
The federation of seven emirates tops the Gulf region’s demand for organic and natural beauty products. This market brings around half of the total revenues of cosmetics in the region.
The Middle East witnessed a 20% growth in the natural products market in 2011, according to the latest statistics issued by Organic Monitor.