With its rich history and rapidly evolving society, the beauty and personal care market is thriving across the MENA region (Middle East and North Africa). Currently valued at US$46 billion, it is projected to reach a staggering US$60 billion by 2025.
- To celebrate this fast-growing market, the Beautyworld x BeautyMatter 2024 Middle East Market Report: Past, Present, Future offers exciting historical, cultural and economic context, to unpack for the first time why the Middle East is a current hotbed for growth in the global beauty and wellness ecosystem.
- The report traces the Middle East’s history and evolution of beauty back to its first example of lipstick and ancient fragrance rituals through to today’s definition of beauty and current trends driving the market.
Beautyworld’s extensive and insightful new report, in collaboration with BeautyMatter, provides industry professionals with all-new research, core data and intelligence into the Middle East’s fast-growing beauty industry for the first time.
With the MENA (Middle East and North Africa) beauty and personal care industry currently valued at US$46 billion and projected to reach US$60 billion by 2025 according to estimations by Euromonitor, the bespoke Beautyworld x BeautyMatter 2024 Middle East Market Report offers a timely and in-depth statistical look at the evolution, development, and future growth of the region’s beauty industry.
The report uses data, intelligence and insights from industry executives and experts to distil the intricacies of consumer demographics, the driving forces behind evolving trends, and the emergence of the new beauty consumer in the region.
The data not only analyses the rising demand for beauty and wellness products in the region. it also illustrates the high potential for continued growth rate in the sector, in part driven by the Middle East’s younger and digitally connected demographic, urbanization, rising disposable incomes and a growing expat community – with insightful predictions as to market worth in the near future.
Findings on the region’s consumer demographic show that Gen Z leads the charge across MENA, with under-30-year-olds making up 55% of the population in comparison to 36% for the Organization of Economic Cooperation and Development countries. Beauty companies wanting to tap into this influential younger consumer generation must have a digitally-savvy, values-first approach, with Gen Z’s purchasing habits increasingly looking beyond pretty packaging to brands with storytelling, purpose, and unique selling points.
The report also spotlights the growing demand for A-beauty (Arab beauty) brands and products that are designed to meet the specific needs and preferences of Middle Eastern beauty consumers, as well as the impact of regional brands on a Western market, with beauty brands such as female-run Saudi-based Asteri and Omani luxury fragrance house Amouage setting their sights on both global expansion and international recognition.
Commenting on the report, Flyn Roberts, Chief Commercial Officer of Messe Frankfurt Middle East, organisers of Beautyworld said, “With Beautyworld Middle East and Beautyworld Saudi Arabia the premier industry events in the region, this report was an important collaboration with our trusted partner BeautyMatter. We hope the report sets a new industry benchmark with the goal to bring key market data and research into one place to provide the global industry with a blueprint to better understand and capitalise on the growing opportunities for both local and foreign brands in this dynamic and ever evolving region.”
Key insights from the Beautyworld x BeautyMatter 2024 Middle East Market Report: Past, Present, Future include:
- The GCC (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates) is home to some of the world’s fast-growing economies, with the World Bank anticipating the region’s GDP to triple to US$6 trillion by 2050, but could grow to US$13 trillion.
- Double digit growth is expected across all major beauty categories in the region to 2027 with a total CAGR of 12%, the highest globally according to McKinsey and Euromonitor
- In terms of the global fragrance market, Expert Market Research predicts it will be worth US$7.21 billion by 2032, largely driven by the UAE and Saudi Arabia.
- Women in the GCC spend an average of US$63 on make-up and US$52 on skincare per month, with men spending an average of US$16 per month on skincare.
- Despite the growth of e-commerce mall culture remains firmly engrained in the Middle East, a market set to grow from US$376 billion in 2023 to US$586 billion in 2028 according to the Middle East Council of Shopping Centres and Retailers
- There were 8,762 spas across MENA in 2022, representing US$4.4 billion, according to the Global Wellness Institute, a 49.2% increase since 2020, while Stellar Market pegged MENA’s spa service market at US$25.77 billion in 2023.
Commenting on the project Kelly Kovack, Founder and CEO of BeautyMatter, said, “Our approach with this market report was to do a deep dive into an incredibly dynamic region to arm readers with data and intelligence framed with historic and cultural context to inform their Middle East strategies.”
Complimenting the report, a webinar will be hosted on 13th August (6.00PM, Gulf Standard Time), bringing the beauty industry together to dive deeper into the reports findings, with a panel of beauty and wellness experts including Senior Consultant – Beauty & Health at Euromonitor – Amna Abbas, clean beauty advocate Anisha Oberoi of Secret Skin and Polly Williams, Managing Director at Dubai based health and beauty PR agency Tish Tash.
