The import of hair preparations to Saudi Arabia has exhibited significant fluctuations over the past decade. Starting from a value of USD 223.34 million in 2013, there has been a general upward trend with intermittent declines. Notable increases were observed in 2014 (22.03%) and 2015 (17.53%), while a dip occurred in 2016 (-9.28%). The market saw stabilization with modest growth rates from 2017 to 2022, peaking at a value of USD 348.02 million in 2023.
The year-on-year variations over the last two years have been 2.83% in 2022 and 2.7% in 2023. The compound annual growth rate (CAGR) for the last five years stands at 3.31%. Forecasts for 2024-2028 suggest continued growth with a forecasted 5-year CAGR of 1.84%, predicting the market to reach USD 391.1 million by 2028.
Future trends to watch for include potential shifts in consumer preferences towards natural and organic products, increased market penetration by international brands, and the impact of economic policies on import levels. Monitoring these factors will be crucial for predicting market dynamics.
