According to a recent market research from Euromonitor International, conducted in partnership with Beautyworld Middle East, the largest international trade fair for cosmetics and fragrances in the Middle East, the hair care market in the Kingdom of Saudi Arabia (KSA) and the United Arab Emirates (UAE) is expected to reach US$ 524.2 million in 2012 and US$ 566 million by 2014.
With over 30,000 hair salons the Arabian Gulf is a potentially huge marketplace and could become a key target for major international hair care brands.
Hair care is set to outperform all other cosmetics and toiletries sectors in the UAE. The sector is projected to grow at a CAGR [1] of 12% between the 2008 and 2013 period and should reach US$ 137.8 million in 2014. Current estimates put the number of hair salons in the UAE in excess of 3,000. However, the largest market for hair care products in the Arabian Gulf region is Saudi Arabia, which is expected to be worth an estimated US$ 428.2 million in 2014. The other countries such as Kuwait, Qatar, Bahrain and Oman are also significant markets in this sector.
“Hair care is a quick growing segment in the overall beauty product mix in this region,” said Ahmed Pauwels, Chief Executive Officer of Epoc Messe Frankfurt, the organiser of the show. “The harsh climatic conditions that prevail here for most of the year, have led to a boom in sales of products that protect hair from damage and dryness. Traditionally, Middle Eastern consumers are known for their high-spend on hair care products and cosmetics.”
A key growth factor for the industry is expected to be the increase in the regional population. The population of the Arabian Gulf countries is expected to reach 53 million by 2020, with over 25 per cent under the age of 15. An increasing number of young consumers are expected to join the workforce and drive demand for the latest products and services in hair care.
This year’s edition of Beautyworld Middle East (May 24 - 26, 2011 at the Dubai International Convention and Exhibition Centre) will propose several events focusing on hair products in partnership with Wella Professionals, L’Oréal Professionnel, Salon Educators and MyHairDressers.com
