Gulf Cooperation Council color cosmetics industry to hit $2,314.5 million by 2030, says P&S Intelligence
NEW YORK, March 14, 2022 /PRNewswire/ — According to market research published by P&S Intelligence, the GCC Color Cosmetics Market size, estimated at $1,277.2 million in 2021, is expected to increase to $2,314.5 million by 2030, at a CAGR of 6.8%. Of all the Gulf Cooperation Council countries, Saudi Arabia experiences the highest sale of these products due to its large population and increasing number of women in the workforce. In addition, the disposable income in the kingdom has increased from $617,848.7 million in 2016 at $658,493.5 million in 2017.
Similarly, the United Arab Emirates is a key user of these products due to its position as a major financial and tourist hub in the world. Middle East. As a result, he enjoys a high culture, which pushes people’s awareness about their appearance. This is why personal care companies invest large sums in marketing their products in the country, often through social media influencers. The UAE has more than 1,000 such entities that review and promote cosmetics and other related products on the internet.
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Key Findings of the GCC Color Cosmetics Market Report
- However, as chemical-laden cosmetics are harmful to the skin in the long term, the demand for those made from organic ingredients is increasing in member countries.
- Among all the products, those used for facial makeup are the most popular in the GCC countries. With men and women engaging more and more in social obligations, they are doing more than ever to improve their facial appearance.
- Products specifically aimed at women have dominated the GCC color cosmetics market so far. Indeed, compared to men, women are more conscious of their appearance, especially since many of them have now entered the labor market.
- For example, up from 11.5% in 2010, 16.7% of those employed in the UAE in 2017 were women, according to the World Bank. In addition to making them concerned about their appearance, this leads to an increase in their purchasing power, which stimulates sales of cosmetics.
- Additionally, the growing use of Instagram, Facebook, YouTube, Twitter, and Pinterest and the increase in viewership of personal beauty blogs are providing market players with more ways to promote their products.
- This is also one of the major reasons why the sale of cosmetics in the region is expected to grow the fastest through online channels in the coming years.
In turn, the advancement of the e-commerce industry is helping to drive the GCC color cosmetics market in the post-COVID-19 era. During the shutdowns, there has been a major shift from offline shopping to online shopping for almost every type of merchandise. As people are now more aware of the benefits of online shopping than before, such as the ability to compare products from different brands and get discounts, sales of cosmetics through e-commerce platforms are booming.
Browse the detailed report on GCC Color Cosmetics Market Analysis and Growth Forecast to 2030
Thus, major players in the GCC color cosmetics market including L’Oreal SA, Unilever Group, Beiersdorf AG, The Procter & Gamble Company, Shiseido Co. Ltd., The Estée Lauder Companies Inc., LVMH Moët Hennessy- Louis Vuitton SE, Avon Products Inc., Oriflame Holding AG, Coty Inc., Guerlain SA, Revlon Inc. and MAC Cosmetics are investing in better digital marketing technologies. For example, Coty Inc. added AR and VR tools to its online marketing ecosystem by September 2021while in October 2020the L’Oréal Group has partnered with Sprinklr, an AI-integrated CXM platform.
GCC Color Cosmetics Market Segmentation Analysis
type of product
- Luxury products
- Mass products
- Nail products
- Lip products
- Eye makeup products
- Face makeup products
- Hair coloring products
- Special effects products
- Grocery/Department Stores
- Multi-brand retail stores
- In line
Analysis by country
- UAE market
- Saudi Arabia market
- Qatar market
- Kuwait market
- Bahrain market
- Oman market
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SOURCE P&S Intelligence