MEA Health & Beauty Industry Report 2023 Key Players Capture 28.9% – ResearchAndMarkets.com

The report titled “Analysis of the Health and Beauty Market in the Middle East and Africa (MEA) until 2027” is now available through ResearchAndMarkets.com. The global health and beauty industry, valued at $475 billion in 2022, is projected to reach $598 billion by 2027, showcasing a Compound Annual Growth Rate (CAGR) of 4.7% during the period from 2022 to 2027.

This comprehensive report offers insights into the current landscape of the health and beauty industry, providing a forward-looking perspective on aspects such as ingredients, product claims, labeling, distribution, and packaging. The analysis extends to regional assessments, highlighting the industry size, growth drivers, recent developments, and potential challenges across various regions.

The Middle East and African health and beauty market are poised to exhibit the highest CAGR among all regions, projecting a growth from $28.5 billion in 2022 to $50.7 billion in 2027, with a CAGR of 12.3%. Fragrances emerged as the dominant sector in 2022, contributing $6 billion, which accounts for 20.9% of the overall regional health and beauty industry.

The report identifies Saudi Arabia, Iran, the UAE, and Nigeria as high-potential countries based on their substantial industry sizes, anticipated high-value growth rates, and rising per capita value levels. Saudi Arabia held the largest market share in 2022, while Iran is expected to register the highest value CAGR of 27.5% from 2022 to 2027.

Packaging trends in the Middle East and Africa indicate that flexible packaging holds the majority share at 47.1%, followed by rigid plastics at 41.4%. Bottles are the most preferred pack type with a 25.7% volume share, and flip/snap tops are the predominant closure type with a 19.4% volume share. Additionally, carton-folding emerged as the most utilized primary outer type in 2022, commanding a 28.5% volume share.

The health and beauty industry in the Middle East and Africa is characterized by fragmentation, with the top five companies – Unilever, L’Oreal, Procter & Gamble, Beiersdorf, and Arabian Oud – collectively accounting for 28.9% of overall value sales in 2022. Unilever leads with a 9% share, followed by L’Oreal at 6.9%. Private label products collectively hold a 0.4% value share, with a presence in all sectors except fragrances and hair care.

The growing consumer emphasis on health has led to an increased demand for natural and plant-based ingredients in health and beauty products. Manufacturers are responding by formulating products with naturally sourced and safe ingredients, avoiding harmful chemicals such as parabens, polyethylene, and butylated hydroxyanisole.

The report provides a detailed scope, covering market size, high-potential countries’ analysis, country deep dives, success stories, competitive environments, distribution analysis, packaging analysis, and challenges and future outlook specific to the Middle East and Africa. This information is valuable for industry participants seeking the latest market trends and insights to shape their strategies for sales and marketing, capitalize on emerging growth opportunities, and navigate the dynamic health and beauty landscape in the region.

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