Within this geography, L’Oreal runs over a dozen entities across 35 markets. The company believes there is a lot of untapped potential in this region with growing affluence and rising sophistication among consumers. The brand expects revenue in the SAPMENA region to double by 2030, representing a CAGR of about 14% from 2023 to 2030.
In 2024, the global beauty tech market saw revenues reaching a staggering US$8.6 billion ($11.8 billion) according to Statista. This is projected to experience an annual growth rate of about 4.89% from 2024 to 2029.
While the US takes the top spot in terms of revenue generation, beauty powerhouse brand L’Oreal is eyeing the potential of the South Asia Pacific, Middle East and North Africa (SAPMENA) zone, with a population of three billion — as both a growth market and a source of innovation.
