Saudi Arabia is the largest market for cosmetic products in the Middle East and Africa. The country has one of the highest skincare consumption rates in the world and is a leader in the consumption of skin and hair care products in the Near and Middle East region. The Saudi cosmetics sector is expected to reach 7 billion by 2024.
Per year, Saudis have an average beauty budget of €900.

Market trends
Covid-19’s crisis has put a strain on physical distribution. Thus, many consumers have converted to online sales. Nevertheless, it is the 18-50 year olds, already familiar with e-commerce, who have supported the growth of this distribution method in Saudi Arabia.
“The pandemic has led to an increase in discounts on beauty and personal care products, especially for high-end products. As a result, competition between these products and mid-range products has intensified,” Business France adds.

Market characteristics
Competition is tough. All the major groups are present. To win the hearts of consumers, brands are banking on ever more innovations, offers and services.
“International brands offering natural, organic and sustainable products have a higher penetration. However, national players are differentiating themselves with products that are based on storytelling and references …