The cosmetics market in the Middle East continues to defy the region’s instability with manufacturers taking advantage of the opportunities provided by Africa
The Middle East cosmetics market is weathering the region’s current political and economic instability. While the markets in the Levant are experiencing tough times, Gulf sales continue to grow. Retailers and manufacturers are also offsetting the losses incurred in depressed and unstable countries by exporting to burgeoning African markets.
Beauty and personal care product sales in the Middle East and Africa (MEA) were US$24bn in 2013, according to market analysts Euromonitor International, with Middle Eastern growth driven by strong sales in the United Arab Emirates (UAE) and the other Gulf Cooperation Council (GCC) countries of Qatar, Bahrain, Kuwait, Oman and Saudi Arabia. Topping beauty and personal care sales in the MEA region in 2013 were fragrances, accounting for 19% ($4.6bn) of the total, followed by hair care items with a 17% share ($4.1bn) in sales. Colour cosmetics and skin care each accounted for 13% of sales, at $3.1bn respectively, according to Euromonitor.. . .
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