NEWS > 19 December 2018
Last stop for 2018 of Cosmoprof On the Road in Saudi Arabia!
Thanks to the speech of Rossella Rossi - Head of the Economic & Commercial Office of the Italian Embassy in Riyadh and the presence of Mattia Miglio - International Marketing Manager of Cosmoprof Bologna, the appointment in Riyadh represented a unique chance to learn about Cosmoprof trade shows, know more about the next trends in the beauty industry, be part of the large buyers’ community of Cosmoprof worldwide, and lead your future business to success.
The event brought together the key players from the local market along with the most important companies, media and distributors.
Why Saudi Arabia?
New analyses show that between 2017 and 2025 the cosmetics market in Saudi Arabia is forecast to grow at an average annual rate of over 11%. Some recent surveys confirm that every Saudi woman spends around 3,800 US dollars per year on beauty and cosmetic products.
The main drivers in the market are the high level of disposable income and the growing number of women in employment. The industry’s growth is also driven by the young population wanting to take more care of their appearance and have a healthy lifestyle. People are increasingly aware of the ingredients in the products they use and this has resulted in a significant demand for ethical and natural cosmetic products. Demand for these products has driven players in local and international markets to develop innovative products, keeping the market competitive and focusing on high-quality branded cosmetics.
Imports of cosmetic products into Saudi Arabia in 2017 totalled 1.7 billion US dollars. Data provided by Trade Map shows France, the United Arab Emirates, Germany, India, the USA and Italy among the main exporters to the Kingdom in 2017. Italy was the sixth-largest supplier country, with a total value of 102 million US dollars and a market share of 6%.
Overall, Euromonitor International reports that sales of cosmetic, beauty and perfume products in the Kingdom are estimated to reach 6.9 billion US dollars by 2021, compared with 5.4 billion in 2017.
Perfume is the most marketed product in Saudi Arabia, with strong growth forecast until 2021, followed by haircare and skincare products and make-up products.