Beauty products industry growth in the Middle East fast

The Middle East and Africa ran second to Latin America as the fastest growing market for beauty products in the last six years, according to data gathered by market research firm Euromonitor. From 2013 to 2014 alone, the beauty and cosmetics sector in these regions enjoyed an 8.8 percent growth as consumers spend between $400 and $500 on beauty products every month. By 2018, annual sales from the line are expected to reach $39 billion.

Fragrances topped the industry in terms of revenue at $4.6 billion in 2013, followed by hair care products, cosmetics and skin care items. Locals and Southeast Asia expatriates, meanwhile, drive up demand for skin whitening products because of the value placed on fairer skin.

The UAE had the highest per capita spending on beauty products in the Middle East and Africa in 2013. More consumers from the country are looking for products with specific benefits. Egypt, on the other hand, experienced less spending on nonessential items due to the majority of consumers coming from low-income brackets.

Western brands are trying to attract customers from the region by complying with cultural mores and offering unique services. In general, multinational companies continue to be the major players in these areas.

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