Saudis to spend SR9.3bn on beauty, cosmetic items in 2015

Saudis to spend SR9.3bn on beauty, cosmetic items in 2015
Updated 13 February 2015

Saudis to spend SR9.3bn on beauty, cosmetic items in 2015

Saudis to spend SR9.3bn on beauty, cosmetic items in 2015

The volume of beauty and cosmetic market is poised to grow by 20 percent in the current year to hit SR9.33 billion compared to SR 8 billion in 2014, an expert told local media.
Sales of beauty and cosmetic items reached SR6.93 billion in 2013, or an increase of 34.6 percent in the following year (2014), Sami Arnaut, CEO of a cosmetic products firm, told Al-Riyadh daily.
The health, beauty and perfume market in the Kingdom is one of the biggest markets in the Middle East taking into consideration that the biggest portion of beauty items is spent on skin care for both sexes due to exposure to high sun heat throughout most part of the year, he said.
A Saudi woman normally spends money ranging between $1,860-$3,200 (SR6,750-SR12,000) per year on cosmetic and beauty items. Riyadh topped all the Kingdom’s cities of having the highest rates of consumption, followed by Jeddah and the Eastern Province, he noted.
He said the recovery of health, beauty and perfume market will remarkably serve the Saudi economy in the coming years on the fact that the Ministry of Labor is strict that shops should employ female Saudis, notably 90 percent of sales are destined for ladies, the expert said.
Dr. Ranya Kide, a beauty specialist, said she receives at her clinic in Bahrain at least seven ladies on daily basis for cosmetic surgery.
She said few young men come to the clinic but their number is not more 5 percent of the total customers. Most of young men ask for surgery to remove wrinkles or acne while part them come to have medical consultations, she said.
On the other hand, Sulaiman Wafaei, head of production unit at one of cosmetic companies, said the Saudi market represents a major importance to cosmetic producers in the world where the rate of sales is growing by 20 percent annually. The growth rate has demonstrated that the Saudi market is still capable of absorbing more beauty and perfume shops, he said.
He warned against the dangers of using herbal products of unknown sources, which may cause lots of diseases. The majority of substances used in the manufacture of cosmetic items are adulterated and, therefore, sold at low prices which could have adverse effects in the short and long terms, he pointed out.