Asia, which is important in size, but extremely fragmented with hundreds of local players having some important advantages over international brands, has nevertheless continued to attract foreign companies in terms of both professional hair care and nail care products. The region is the second largest after Europe when it comes to the salon hair care market, accounting for almost 30% of the global sales of professional hair care products. The three giants of Japan, China, and South Korea have experienced sluggish growth recently, and there are many smaller markets where sales show much higher dynamics. Among them, India leads the way with continuous double-digit growth. In fact, India has shown a compound annual growth rate in terms of salon hair care sales of 17% between 2011 and 2016, whereas Asia’s overall growth during that period has averaged to only 2.5%. Because the Asian market’s growth is driven by these smaller markets, such as India, our 2017 edition of Salon Hair Care Global Series will take a deeper look at 12 markets in Asia!
Asia is also an important market in the professional nail care industry, accounting for roughly one-fifth of this market, which is worth globally $1.5 billion. Three key markets (Japan, China, and South Korea) lead through innovation, especially when it comes to gels—an important category in the region accounting for over 60% of sales, whereas globally nail gels account for only 40%, finds the latest published edition of our Professional Nail Care report. Japan is not only a source of new products and trends, but it is also the second largest country market globally and therefore an important opportunity area for all marketers.
On the other hand, the Middle East, a small market on the global scene of professional beauty, has been capturing the attention of many international players when it comes to professional beauty for two key reasons. First, the market, until recently, has been an unexplored territory and is often described as a market “on fire” when it comes to professional beauty, particularly nail products. Second, the market does not have any strong local players that would offer salon hair care or professional nail care products, making it a perfect playground to explore for international brands renowned for their quality.
Our new study Professional Beauty in the Middle East: Market Analysis and Opportunities will build a thorough regional analysis of the Middle Eastern market for professional products used by hair stylists, beauticians, and nail technicians, as well as other beauty professionals, in six countries: Egypt, Iran, Lebanon, Qatar, Saudi Arabia, and United Arab Emirates. Expected to be published during the first half of 2018, this new study is designed to assist marketers to evaluate business opportunities and to navigate potential obstacles in this unique frontier for professional hair, nail, and skin care products.