Saudi Fashion Market Heads Towards $23 Billion and Beauty Grows 9.6% in 2026

Saudi Arabia is heading toward recording record figures in the fashion and beauty sectors during 2026, as forecasts indicate that the apparel and footwear market could reach around $23 billion, while the cosmetics market is expected to grow 9.6% to reach approximately $9.3 billion, according to reported industry estimates.

Behind this rapid growth are a number of factors, chief among them the steady increase in per capita income, a growing youth demographic representing the vast majority of the population, as well as social transformations that have reshaped consumption patterns in the Kingdom in recent years.

Saudi Arabia is betting on developing the retail sector as an integral part of Vision 2030, combining efforts to attract international brands with developing local products, expanding major shopping malls, and boosting inbound tourism, which now contributes to the demand for fashion and beauty goods.

This growth opens the door for local and international fashion and beauty brands to expand in the Saudi market, which is considered one of the most dynamic regional markets, especially with increasing consumer interest in both luxury and mid-range products.

What do these terms mean?

**Cosmetics:** Includes skincare, haircare, perfume, and makeup products, and is considered one of the fastest-growing sectors in the Gulf region.

**Vision 2030:** The Saudi strategic plan aimed at diversifying national income sources and reducing reliance on oil, encompassing the development of the tourism, entertainment, and retail sectors.

**Retail Sector:** Refers to all commercial activities that sell products directly to the final consumer, including apparel, footwear, accessories, and cosmetics.