Beauty & Personal Care - Western Asia

Western Asia

The Beauty & Personal Care market in Western Asia is projected to generate a revenue of US$25.35bn in 2024.
It is expected to experience an annual growth rate of 3.65% (CAGR 2024-2029).
The largest segment in this market is Personal Care, which is estimated to have a market volume of US$11.56bn in 2024.
When compared globally, in the United States leads in revenue generation with US$101bn in 2024.
In terms of per capita revenue, in Western Asia is expected to generate US$113.90 per person in 2024.
Furthermore, online sales are anticipated to contribute 23.8% of the total revenue in the Beauty & Personal Care market by 2024.
In Western Asia, the beauty and personal care market is experiencing a surge in demand for natural and organic products.

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

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Analyst Opinion

The Beauty & Personal Care market in Western Asia is experiencing negligible growth, influenced by factors such as shifting consumer preferences, economic fluctuations, and increasing competition from emerging brands, which challenge traditional players to innovate and adapt.

Customer preferences: Consumers in Western Asia are increasingly prioritizing natural and organic ingredients in their beauty and personal care products, reflecting a growing awareness of health and sustainability. This trend is further fueled by a younger demographic that values eco-friendly and cruelty-free brands, pushing traditional companies to reformulate their products. Additionally, the rise of social media influencers has shifted purchasing behaviors, with consumers seeking authenticity and transparency from brands, ultimately redefining loyalty and brand engagement in the market.

Trends in the market: In Western Asia, the Beauty & Personal Care market is experiencing a surge in demand for natural and organic products, driven by a heightened consumer focus on health and environmental sustainability. This trend is particularly pronounced among younger consumers who favor eco-friendly and cruelty-free brands, compelling established companies to adapt their formulations. Additionally, the influence of social media is reshaping purchasing behaviors, with consumers increasingly seeking authenticity and transparency in brand communications. This shift not only redefines consumer loyalty but also presents significant opportunities and challenges for industry stakeholders navigating this evolving landscape.

Local special circumstances: In Western Asia, the Beauty & Personal Care market is shaped by a rich tapestry of cultural traditions and diverse consumer preferences. The region's historical emphasis on natural remedies influences the rising demand for herbal and organic products. Additionally, various regulations promoting eco-friendly practices encourage brands to adopt sustainable packaging and cruelty-free testing. The blend of modern influences and traditional values drives unique consumer behaviors, where authenticity and local heritage play crucial roles in brand loyalty, setting this market apart from global counterparts.

Underlying macroeconomic factors: The Beauty & Personal Care market in Western Asia is significantly influenced by macroeconomic factors such as rising disposable incomes, urbanization, and shifting consumer preferences towards premium and sustainable products. Economic growth in several countries within the region has led to increased spending on personal care, reflecting a growing middle class eager to invest in beauty and wellness. Additionally, fiscal policies promoting local manufacturing and innovation are encouraging brands to develop products that resonate with cultural values. Global trends towards sustainability and ethical consumption further drive demand, making the market dynamic and responsive to both local and international influences.

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.