Monday, April 12, 2010

Iran is world's seventh largest cosmetic consumer

Updated on : Monday, April 12, 2010

TEHRAN: Iran has emerged as the world's seventh largest consumer of cosmetics, spending 2.1 billion dollars annually on various beauty products, a local newspaper said on Sunday.

The report quoting a survey conducted by TMBA, a private economic research body, said that Iran accounts for 29 percent of the cosmetics market in the Middle East.

Around 14 million Iranian women aged between 15 and 45 years and living in major cities spend around seven dollars a month per capita on cosmetics, the survey said, without giving a complete breakdown on the nation's spending.

The average monthly salary in Iran is around 600 to 700 dollars.

The survey indicates that the high spending is primarily due to the fact that about half of Iran's around 74 million population is under the age of 30.

The survey, however, is based on estimates and not on precise figures of cosmetics purchased in Iran, the report added.

Iran produces cosmetics, but imports a significant portion of its consumption.

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