Despite the slowdown in global demand afflicting other industries, the highly profitable beauty and cosmetics industry is set to get even bigger in Saudi Arabia, with some industry experts expecting beauty sales to increase by at least 25 per cent this year. According to a recent survey in the Middle East, almost 60 per cent of the GCC population is under 25, ensuring a high growth rate in the beauty market. The beauty products and services market is worth more than SR7.3 billion in the Kingdom. Even though there is a slowdown in business around the world, sales of beauty and cosmetic products are increasing day by day in the Kingdom. Most shopping malls in the Eastern Province have at least 10 to 15 cosmetics and toiletries shops selling well-known brands imported from Germany, Italy and France.
BEAUTY BUSINESS BOOMS IN SAUDIA
Despite the slowdown in global demand afflicting other industries, the highly profitable beauty and cosmetics industry is set to get even bigger in Saudi Arabia, with some industry experts expecting beauty sales to increase by at least 25 per cent this year.
