The export value of hair preparations from Saudi Arabia has experienced a significant decline over the past decade. In 2013, exports stood at 246.68 Million US Dollars, but this figure consistently decreased, reaching 57.331 Million US Dollars in 2023. The year-on-year percentage variation over the last two years showed a decline of -9.35% in 2023. Over the last five years, the average annual decrease (CAGR) in export value was -2.84%.
Forecasts indicate that this downward trend will continue, with exports projected to reach 26.43 Million US Dollars by 2028. The 5-year CAGR forecast from 2023 to 2028 is -12.26%, and the forecasted 5-year growth rate shows a substantial decline of -48.01%.
Future trends to watch for include potential shifts in global demand for hair preparations, Saudi Arabia's strategies for market diversification, and the impact of technological and product innovations that might alter market dynamics. Monitoring these factors could offer insights into whether the forecasted decline can be mitigated or reversed.
