High consumption of cosmetic products in the Arab Gulf Countries creates huge opportunity


Posted July 19, 2012 by noor_awad

According to a recent survey, consumption of cosmetics and fragrances in the Gulf States is among one of the highest per capita in the world with the average purchase estimated in the region of 335 US dollar per head, The last couple of years.

 
Arab countries especially Gulf Countries are one of the fastest growing GDPs in the world
Rapidly growing populations is a key driver for the region. The United Nations expects the overall MENA population to grow by on average 1.5-2.0% per year between 2010 and 2030, from about 340m to more than 470m. The GCC region has witnessed robust economic growth led by a steady rise in crude oil prices since 2000 and conscious economic diversification.

Regionally, Saudi Arabia, closely followed by Iran and the UAE, are the top 3 countries in terms of Cosmetics and Toiletries consumption. According to a recent survey, consumption of cosmetics and fragrances in the Gulf States is among one of the highest per capita in the world with the average purchase estimated in the region of 335 US dollar per head, The last couple of years were an extremely healthy period of growth for the industry. Rising income and expanding population are the two main factors contributing to growth in overall beauty products consumption.

For many years now, the Canadian government is pushing the small and medium sized companies to expand their markets internationally and specifically to wealthy Arab countries which are considered a great opportunity to canadian businesses. Some Canadian provinces announced initiates incentivising Canadian businesses to consider Arab markets in their marketing plan.

Some companies saw this opportunity and started providing offshore Arabic customer relation management to Canadian companies, which helped Canadian companies to bypass language barriers . Wellpresence is an example for that, a promising canadian company experienced in dealing with gulf countries and helping Canadian companies to open new markets in wealthiest Arab countries.
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Issued By khaled awad
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Canada M3C-1G4
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Tags beauty products , arab markets , export to gcc , localization services , wellpresence
Last Updated July 19, 2012