UAE has seventh highest beauty product consumption
According to a report released by Euromonitor International, the UAE has a per capita spend of around $239 (Dh877) on beauty products, making it the seventh highest in the world.
“In terms of per capita consumption, the UAE is up two positions on 2015, making it the seventh highest consumer of beauty products in the world in 2016,” comments Iyad Hijjawi, a senior consultant at Euromonitor.
The growth of the Middle East and Africa’s (MEA) $30 billion (AED 110bn) beauty market is set to slow in 2017, according to the study.
Despite being expected to grow by $12 billion (AED 44bn) in the next four years, the MEA’s share of the global $445 billion (AED 1,634bn) cosmetics industry will be hampered by lower growth in the GCC and Iran.
“The low oil price turmoil is definitely hitting consumer confidence in the region, especially in the GCC region,” he said.
Saudi Arabia maintained its position as the largest country in terms of the value of sales, with $5.53 billion (AED 22bn) in 2016, followed by Iran, the UAE, and Egypt.
