The recent collaborative report, titled “Beautyworld x BeautyMatter 2024 Middle East Market Report,” offers groundbreaking insights into the expanding beauty and personal care industry in the Middle East and North Africa (MENA). The report is the result of joint efforts between Beautyworld, the leading beauty industry event organizer in the Middle East, and BeautyMatter, an industry analytics firm.
The MENA beauty and personal care market is currently valued at about $46 billion and is expected to reach $60 billion by 2025, according to projections by market research firm Euromonitor. This comprehensive report arrives at an opportune time, providing deep statistical insights that will help steer the future growth and evolution of this vibrant sector.
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The report draws from an array of data and perspectives from top industry executives and experts, providing a nuanced understanding of the region’s consumer demographics, evolving trends and the characteristics of the new beauty consumer in MENA. It uncovers key drivers of growth, including the youthful, highly connected population, urbanization, rising disposable incomes and expanding expatriate communities, offering forecasts of market values in the near future.
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The segmentation analysis reveals that Gen Z, making up 55 percent of the MENA population, is a major demographic force driving the beauty market, contrasted with 36 percent in the Organization for Economic Cooperation and Development countries. Beauty companies aiming to capture this segment must adopt a digitally savvy, values-first approach, the report suggests, emphasizing the generation’s preference for brand purpose and storytelling over mere aesthetics.
Highlighting the region’s inclination toward local innovation, the report identifies a growing demand for Arab beauty (A-beauty) brands which cater specifically to Middle Eastern consumers. Notable brands such as the Saudi women-led Asteri and the Omani luxury fragrance house Amouage are positioning for global expansion and wider international presence.
Commenting on the report, Flyn Roberts, chief commercial officer of Messe Frankfurt Middle East, organizers 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 capitalize on the growing opportunities for both local and foreign brands in this dynamic and ever-evolving region.”
Further insights from the report showcase the economic vitality and potential within the GCC states, including predictions by the World Bank of GDP growth reaching up to $13 trillion by 2050. It also highlights rapid growth expectations across all major beauty categories, with McKinsey and Euromonitor forecasting a total compound annual growth rate (CAGR) of 12 percent, which is the highest globally.
The comprehensive report not only underscores the robust consumer spending on beauty products but also encapsulates the strong mall culture prevalent in the Middle East, despite the rise of e-commerce.
Commenting on the project Kelly Kovack, founder and chief executive officer 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.”
To download the report, CLICK HERE.