Grabbing a market share of more than $4.6 billion in Saudi Arabia and the UAE

Nagham Zalabia encourages more investment in the beauty and personal care industry

August 23^rd, 2023: “The beauty and personal care industry has always been one of the fastest growing consumer markets globally. The cosmetics and skin care industry has had the lion’s share of this growth driven by the rising number of young consumers and the evolution of beauty trends from one generation to another, due to the influence of e-commerce platforms growing exponentially, fueled by significant impact of social media on consumer behavior”, said Nagham Zalabia, the Palestinian entrepreneur and influencer in the field of beauty.

According to specialized reports, the total revenues of the beauty and personal care industry in the UAE recorded almost $ 1.3 billion in 2022, of which 24% is generated through e-commerce channels. Personal care products accounted for a market share of $518.8 million, followed by skin care at $292.5 million, cosmetics at $174.5 million, and perfumes at $142.7 million.

A study released by Statista estimated that the beauty market size in Saudi Arabia will reach about $3.3 billion in 2022, with the increase expected to continue at a compound annual growth rate of 6.5% between 2023-2027. The largest consumer segment of beauty and personal care products in the Kingdom of Saudi Arabia are aged between 18 and 34 years old, making them the most interested age group in appearance, skin and hair care.

Another study by Statista predicted that the market value of skin care and cosmetics in the Middle East and North Africa (MENA) region will rise from $3.18 billion in 2015 to $6.29 billion by 2024.

In view of this data, Nagham stressed the value of investing in beauty and personal care industry and complementary e-commerce platforms, especially in the GCC region, which brings promising return on investment opportunities, taking into account high-quality products, outstanding sales service and attractive marketing campaigns for the target audience.

Leveraging the promising market opportunities, Nagham confirmed she is in the process of expanding her business base in the GCC region, with focus on the Saudi and UAE markets through beauty and skin products under her innovative brand "Nagham Pro", which offers over 100 skin, hair and body care products in addition to makeup, perfumes and accessories.

“The beauty and personal care industry is poised for a strong and steady growth. The GCC markets are attractive for both local and international companies to be in them, thanks to a favorable investment climate and the large consumer market, with many investment opportunities available in the fields of manufacturing, distribution, retail, marketing, and R&D”, Nagham concluded.