With a climate that leaves consumers constantly battling with dry and frizzy hair, and with a sizeable population of 32.6 million people, Saudi Arabia has become a strategic destination for hair care brands. Despite the deceleration of economic activity over the last year and tighter liquidity, the kingdom’s hair care market experienced moderate growth in 2016 compared to 2015, increasing 1% in value terms to reach Saudi Arabian Riyals SAR2.9bn (US$746.4m), according to market researcher Euromonitor International.
“Saudi Arabia’s hair care market witnessed a growth slowdown in 2016 mainly due to the austerity measures that curbed consumer purchasing power, thus consumers have opted to buy less or downgraded their preferences towards cheaper brands,” explains Diana Jarmalaite, Research Analyst at Euromonitor International.
Source: Euromonitor International
This year, the country’s hair care market is expected to grow at a faster rate of 5% compared to 2016 to reach SAR2.9bn ($773.2m), thanks to a boost in public spending, growth in the non-oil sector and improving consumer sentiment. Market research company GlobalData (formerly Canadean) estimates that the Saudi hair care market grew by the higher rate of 4.3% year-on-year in 2016, reaching $605m in 2016 from $580m in 2015. The difference in figures is
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