Middle East and Africa Hair Care Market - By Products, Distribution Channels, Countries and Vendors - Market Trends and Forecasts (2015- 2020)
While the African and Middle East hair care market is only the 6th largest in the world, what it does not have in terms of revenues, the region will make up for in terms of growth. It is estimated that this market is worth no less than US$ X.XX bn in 2015, and is only set to grow.
It is accounted for only about X% of the global hair care market, and while the per capita spending in the African and Middle East region is US$ X on hair care, less than the highest of US$ XX in North American and Australian region. Middle East and African hair care market is the only one globally which experienced double digit growth of XX.XX% in the hair care segment in the period between 2013 and 2014. This growth is estimated at a CAGR of X.XX% between 2015 and 2020.
Turkey, Egypt, Saudi Arabia, Iran, UAE are the highest revenue countries in the hair care segment in the Middle East region, accounting for more than XX% of the sales in the region, a total of X.XX% of the global hair care market. Of these, Iran is the market leader, followed by Turkey, Saudi Arabia, Israel and UAE. The per capita hair care spending in the middle-east region is greater than that in their corresponding African counterparts, ranging from US$XX to US$X. Highest growth within the Middle East region was exhibited by Iran.
In Africa, where many still survive with US$ 2 a day, there is a thriving hair care industry in its nascent stage. More than US$ X billion worth of hair care products, including shampoos, hair serums and other products were sold in Nigeria, Cameroon, and South Africa, three of the fastest growing economies in the African region.
Hair care market in Africa, hair type and other factors, due to a different demography calls for a thriving industry related to specific product types. The will to look good is prevalent even in the low income strata of Africa, where beauty parlours have become popular. Increasing ICT usage is seen across urbanized Africa. Furthermore, hair care provides employment to a number of women in this region.
Another important factor in hair care under the personal care category is the usage of Halal products, compliant with the religious sentiments of the Islamic population in the region. Halal is complemented by the preference for all natural/vegan products in both skin and hair care.
A young and increasingly urbanized and working population in Africa and Middle East is responsible for a flourishing hair care market. This is complemented by an increase in disposable income. Furthermore, ICT efforts are becoming mainstream for marketing via social media Increasing inclusion of women in the workforce account for the high growth in the MEA markets for hair care. Challenges
A highly segmented population with vast income differences leads to difficulties in product development and marketing. Halal consciousness is increasing, forcing companies to create products specifically for this market High cost of products for the largely low income population of this region make for the most major challenges in the hair care segment in the Middle East and African regions. What the report offers
Market analysis for the MEA hair care market, with country specific assessments. Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a regional scale. Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares. Identification and analysis of the macro and micro factors that affect the MEA hair care market on regional scale. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
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