AL-KHOBAR – The volume of sales in the Saudi cosmetics and perfumes market was SR30 billion ($8 billion) in 2014 and is expected to increase by 16 percent to nearly SR35 billion ($9.3 billion) this year, according to an industry expert. Samir Arnaut, CEO of a leading agency selling perfumes and cosmetic products in the Kingdom, said the Saudi market has witnessed a big boom over the last few years, Al-Riyadh daily reported. He said: “There has been steady increase of 14 percent in the sale of these products during 2014 and 2015. “The sales stood at $6.03 billion in 2013 while it shot up to $8 billion in 2014.” Arnaut attributed this increase mainly to the huge demand for foreign brand cosmetics, makeup, skincare products and perfumes, as well as the opening of more foreign brand outlets in malls across the Kingdom. He said that the Saudi cosmetics and perfumes market is one of the largest markets in the Middle East region. “Saudi women spend between SR186,000 and SR320,000 on cosmetics and accessories alone in a year. “Riyadh comes first in terms of the volume of spending, followed by Jeddah and the Eastern Province.” The expert also noted that the burgeoning cosmetics and perfumes market would spur the Kingdom's economic growth further over the coming years. He said measures taken by the Ministry of Labor to employ women exclusively at ladies fashion and accessory shops would also help. It is estimated that about 90 percent of consumers of cosmetics in the Kingdom are women, he added. Raed Kayid, a specialist in cosmetics who runs a clinic in Bahrain, said at least seven women undergo cosmetic surgery at her clinic daily, and these included many Saudi women. Nearly 95 percent of customers at her clinic are women. “Initially, they come and ask for a consultation and think it over for some time before coming to undergo surgery. Only a few men approach the clinic and these are mainly to get rid of wrinkles or acne.” Suleiman Wafai, production manager at a cosmetics company, said Saudi Arabia is a big market for branded cosmetic products. There has been an average annual increase of 20 percent in the sale of cosmetics and perfumes, he said. Wafai warned against using herbal cosmetics from unknown sources as they pose risks and might cause diseases. “People are lured to buy them due to their cheap prices and they are quite unaware of their serious side effects,” he said.
