Beauty & Personal Care - Saudi Arabia

Saudi Arabia

In 2024, the revenue in the Beauty & Personal Care market in Saudi Arabia amounts to US$5.97bn.
This market is projected to grow annually by 4.42% (CAGR 2024-2029).
The largest segment in this market is Personal Care, with a market volume of US$2.68bn in 2024.
When compared globally, in the United States generates the highest revenue, reaching US$101bn in 2024.
In terms of per capita revenue, each person in Saudi Arabia generates US$159.40 in 2024.
Furthermore, online sales are expected to contribute 41.9% of the total revenue in the Beauty & Personal Care market by 2024.
The beauty and personal care market in Saudi Arabia is experiencing a surge in demand for halal-certified products.

Key regions: United States, Worldwide, India, Indonesia, Canada

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Analyst Opinion

The Beauty & Personal Care market in Saudi Arabia is witnessing sluggish growth, influenced by shifting consumer preferences, economic factors, and increased competition. Despite a growing interest in innovative products, market expansion remains constrained by fluctuating purchasing power.

Customer preferences: Consumers in Saudi Arabia are increasingly gravitating towards natural and organic beauty products, reflecting a cultural preference for authenticity and sustainability. This trend is particularly prominent among younger demographics who prioritize eco-friendly options and ethical sourcing. Additionally, the rise of social media influencers is shaping beauty standards and driving demand for innovative skincare solutions. Moreover, the growing emphasis on self-care routines, especially post-pandemic, is prompting consumers to invest more in personalized beauty experiences that align with their lifestyles and values.

Trends in the market: In Saudi Arabia, the Beauty & Personal Care market is experiencing a surge in demand for natural and organic products, driven by a cultural emphasis on authenticity and sustainability. Younger consumers are increasingly prioritizing eco-friendly offerings and ethical sourcing, reflecting a broader global movement towards conscious consumption. The influence of social media influencers is reshaping beauty standards, promoting innovative skincare solutions. Furthermore, the post-pandemic focus on self-care is encouraging investments in personalized beauty experiences, signaling significant opportunities for brands to align with evolving consumer values and preferences.

Local special circumstances: In Saudi Arabia, the Beauty & Personal Care market is uniquely influenced by its cultural heritage, which places a high value on traditional beauty practices and ingredients, such as oud and rose water. The country's strict regulatory environment ensures that products meet specific safety and quality standards, fostering consumer trust. Additionally, the rise of women's empowerment initiatives has led to increased spending on beauty products among female consumers. The blend of these local factors creates a distinctive landscape that drives innovation and shapes consumer preferences in the market.

Underlying macroeconomic factors: The Beauty & Personal Care market in Saudi Arabia is significantly shaped by macroeconomic factors such as national economic health, consumer spending trends, and global economic dynamics. The country’s Vision 2030 initiative, aimed at diversifying the economy, has bolstered disposable incomes and increased consumer confidence, leading to higher expenditures on beauty products. Additionally, the rise of e-commerce and digital marketing strategies, influenced by global trends, has expanded market reach and accessibility. Furthermore, fluctuations in oil prices can impact overall economic stability, thereby affecting discretionary spending in the beauty sector. These factors collectively drive innovation and consumer engagement in the market.

Methodology

Data coverage:

The data encompasses B2C enterprises. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations such as population, GDP per capita, and Human Development Index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, multiple forecasting techniques based on different forecasting methods, such as Autoregressive Integrated Moving Average (ARIMA) and exponential trend smoothing, can provide the most accurate forecasts.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.