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Why is Saudi Arabia's beauty industry becoming a narrative of the evolution of the Saudi society?
As Saudi Arabia advances towards achieving Vision 2030, the beauty industry emerges as a pivotal player in the Kingdom's journey towards economic diversification and societal evolution.
This transformation extends beyond mere economic reforms, encompassing a broader societal shift towards enhancing quality of life and fostering a vibrant community. In response to this, the beauty sector has witnessed a surge of interest and investment, driving a wave of innovation and expansion.
Amidst this dynamic landscape, Saudi women are navigating a profound transition, mirrored by a burgeoning beauty sector that reflects a nuanced approach to self-expression.
The growing popularity of modest clothing has spurred a deeper exploration of beauty products as means of personal expression.
Makeup and skincare have experienced a surge in demand, with women seeking to complement their evolving fashion choices with beauty routines that accentuate their individuality.
Consequently, there has been an increased appetite for a diverse array of beauty products, ranging from high-end international brands to locally grown start-ups catering to the unique needs and preferences within the Kingdom.
One such exemplar is ASTERI, the first Saudi makeup brand to uphold global standards. With a motto of "Born in Arabia. Raised to Take on the World," ASTERI epitomizes the Kingdom's aspiration to share its rich beauty heritage with the global stage, spearheaded by visionary entrepreneur Sara Al-Rashed.
Shifts in Beauty and Personal Care Categories
The beauty and personal care landscape in Saudi Arabia is undergoing notable transformations, particularly with shifting consumer preferences towards skincare. There is a notable emphasis on health, wellness, and natural ingredients, prompting innovations in product formulations, packaging, and marketing strategies. These changes are reshaping the dynamics of the category and presenting fresh opportunities for prestige brands to thrive.
Potential in Prestige Skincare
In the domain of prestige skincare, significant growth prospects abound, fuelled by consumers' growing inclination towards investing in premium products offering superior efficacy, indulgent experiences, and specialized solutions.
Despite mass and "mestige" brands currently dominating the market with nearly 50% share, there is a clear space for prestige brands to carve out their niche. While representing a smaller, single-digit percentage currently, prestige skincare brands stand poised to capture a larger portion of the market share as consumer demand for high-quality offerings continues to rise.
Shift Towards Natural and Organic Products
The rising interest in holistic wellness and clean beauty within Saudi Arabia mirrors a broader cultural shift towards embracing conscious and sustainable lifestyles.
This trend presents an exciting opportunity for brands to innovate and connect with consumers seeking beauty products that not only enhance their appearance but also contribute to their overall health and well-being.
In line with this trend, YouTube search interest for "clean makeup" in Saudi Arabia surged by 13 times, reflecting a growing curiosity and preference for skincare routines like "skin cycling," which emphasizes alternating between active ingredients and skin rest periods to maintain skin health.
Furthermore, a recent Google survey of UAE consumers revealed that quality was the primary deciding factor for 34% of respondents when purchasing luxury beauty products. This underscores the importance of delivering high-quality offerings that meet consumers' expectations and align with their values of efficacy and excellence in the beauty sector.
Beauty tech
This burgeoning sector, blending beauty and technology, is resonating deeply with Saudi consumers who are increasingly integrating innovative beauty tech devices into their daily routines, seeking seamless solutions that enhance their beauty regimes. Moreover, the relevance of technology integration, including AI tools, is becoming indispensable, offering personalized recommendations, virtual beauty consultations, and tailored skincare routines, thus driving the surge in demand for Beauty Tech in Saudi Arabia.
In 2024, the Beauty Tech market in Saudi Arabia is forecasted to hit US$94.22 million, with an expected annual growth rate of 3.06% from 2024 to 2028. Therefore, this trend presents a significant opportunity for both local and international brands to enter the Saudi market and retail space.
As Saudi Arabia strides towards realizing Vision 2030, the beauty industry stands as a testament to the Kingdom's broader aspirations for economic diversification and societal transformation. The convergence of tradition and innovation, underpinned by a digitally savvy consumer base and a growing emphasis on sustainability, is crafting a new beauty narrative in the Kingdom.
The beauty sector, witnessing unprecedented interest and investment, stands at the forefront of this transformation, driving innovation and expansion across various segments. Saudi women, navigating a profound transition, are embracing beauty as a means of personal expression, complementing their evolving fashion choices with skincare and makeup routines that reflect their individuality.
As Saudi Arabia progresses towards Vision 2030, the beauty industry not only represents a beacon of progress but also an opportunity for brands to align with the Kingdom's ethos of innovation, inclusivity, and sustainability. By embracing these values, brands can forge deeper connections with Saudi consumers, contributing to a dynamic and prosperous future for the Kingdom.
Sources and References
Saudi Vision 2030 official documentation
"The State of the Beauty Market in Saudi Arabia," Euromonitor International
"Sustainability in Beauty: A New Paradigm," Beauty World Saudi Arabia Conference Insights
GCC Color Cosmetic Products Market Size, Demand Outlook, 2022-2030 (psmarketresearch.com)
GCC Color Cosmetic Products Market Size, Demand Outlook, 2022-2030 (psmarketresearch.com)