Color Cosmetics Industry of Gulf Cooperation Council to Hit $2,314.5 Mn Value by 2030, says P&S Intelligence
NEW YORK, March 14, 2022 /PRNewswire/ -- According to the research market research study published by P&S Intelligence, the GCC color cosmetics market size, which was estimated at $1,277.2 million in 2021, is expected to increase to $2,314.5 million by 2030, at a 6.8% CAGR. Among all Gulf Cooperation Council countries, Saudi Arabia witnesses the highest sale of such products due to its large population and rising number of women in the workforce. Additionally, the disposable income in the kingdom rose from $617,848.7 million in 2016 to $658,493.5 million in 2017.
Similarly, the U.A.E. is a key user of these products because of its position as a major financial and tourist hub of the Middle East. As a result, it enjoys a high culture, which drives people's consciousness on their appearance. This is why personal care companies are pouring heavy sums in marketing their products in the country, often through social media influencers. The U.A.E. has over 1,000 such entities that review and promote cosmetics and other related products on the internet.
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Key Findings of GCC Color Cosmetics Market Report
- However, since chemical-laden cosmetics are harmful to the skin in the long run, the demand for those made from organic ingredients is rising in member countries.
- Among all products, those used for facial makeup are the most popular in GCC countries. With both men and women increasingly engaging in social obligations, they are doing more than ever to enhance their facial appearance.
- Products specifically targeted at women have dominated the GCC color cosmetics market till now. This is because compared to men, women are more conscious of their appearance, especially since many of them have entered the workforce now.
- For instance, compared to 11.5% in 2010, 16.7% of the employed people in the U.A.E. in 2017 were women, according to the World Bank. Apart from making them appearance-conscious, this is leading to an increment in their spending power, thereby driving cosmetic sales.
- Moreover, the increasing usage of Instagram, Facebook, YouTube, Twitter, and Pinterest and rising viewership on personal beauty blogs are giving market players more ways to promote their products.
- This is also a key reason the sale of cosmetic products in the region is set to increase the fastest through online channels in the coming years.
In turn, the advancing e-commerce industry is helping drive the GCC color cosmetics market in the post-COVID-19 period. During the lockdowns, there was a major shift from offline purchases to online purchases for almost all types of goods. With people now more aware of the benefits of online shopping than before, such as the flexibility to compare products of different brands and avail of discounts, cosmetic sales through e-commerce platforms are booming.
Browse detailed report on GCC Color Cosmetics Market Analysis and Growth Forecast to 2030
Hence, major GCC color cosmetics market players, including L'Oréal S.A., 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 instance, Coty Inc. added AR and VR tools to its online marketing ecosystem in September 2021, while in October 2020, L'Oréal Group partnered with Sprinklr, an AI-integrated CXM platform.
GCC Color Cosmetics Market Segmentation Analysis
Product Type
- Luxury Products
- Mass Products
Product
- Nail Products
- Lip Products
- Eye Make-up Products
- Facial Make-up Products
- Hair Color Products
- Special Effects Products
Packaging
- One-Time
- Refillable
Consumer Group
- Men
- Women
- Unisex
Distribution Channel
- Grocery/Department Stores
- Supermarkets/Hypermarkets
- Multi-Brand Retail Stores
- Online
Country Analysis
- U.A.E. Market
- Saudi Arabia Market
- Qatar Market
- Kuwait Market
- Bahrain Market
- Oman Market
Browse More Related Reports
Color Cosmetics Market in Saudi Arabia - The western region is expected to account for the largest share in the Saudi Arabian color cosmetics market in the coming years.
Color Cosmetics Market in U.A.E. - Dubai held the largest share in the U.A.E. color cosmetics market in 2020 due to the surging per capita expenditure on cosmetic products, increasing availability of cosmetics on online channels, and growing female workforce in the city.
About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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