Saudi Arabia continued to lead initial public offerings in the Gulf Cooperation Councill region in 2023 with 35 out of the 46 IPOs occurring in the Kingdom. This was in part due to governmental initiatives as per its Vision 2030 strategy.
Despite the strong investment being seen in retail infrastructure in the Kingdom consumers are expected to continue shifting towards retail e-commerce when purchasing premium beauty and personal care, attracted by promotions and online offers. Online retailers like Noon, Namshi, Amazon, Niceonesa and Tatayab now present a meaningful challenge to store-based distribution channels for the first time in premium beauty and personal care, having invested heavily in the market.
Saudi Arabia plans to attract over 100 million visitors annually by 2030 as part of its Vision 2030 goals. Along with religious tourism, public and private sector entities in Saudi Arabia are working collaboratively to boost tourist numbers through investments in leisure and entertainment in addition to giga projects like Red Sea, NEOM, Qiddiya, Roshn and Diriyah, AMAALA, Al Ula, King Salman Park, Riyadh Sports Boulevard and more.
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Understand the latest market trends and future growth opportunities for the Premium Beauty and Personal Care industry in Saudi Arabia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Premium Beauty and Personal Care industry in Saudi Arabia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Premium Beauty and Personal Care
This is the aggregation of premium colour cosmetics, fragrances, deodorants, skin care, sun care, baby and child-specific products, bath and shower and hair care.
See All of Our DefinitionsThis report originates from Passport, our Premium Beauty and Personal Care research and analysis database.
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