According to the report published by Allied Market Research, the Middle East skin care products industry was estimated at $1.78 billion in 2019, and is anticipated to hit $1.92 billion by 2027, registering a CAGR of 5.8% from 2021 to 2027. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Increase in adoption of new product branding and advertising strategies among skin care products manufacturers drives the growth of the Middle East skin care products market. On the other hand, use of chemical rich products restrains the growth to some extent. Nevertheless, rise in awareness of probable side effects of cosmetics and skin concerns among customers is expected to create lucrative opportunities in the industry.
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COVID-19 scenario-
Skin care products manufacturers across Middle East are now switching their preference to produce hand sanitizers, cleaning agents, and personal care products. This, in turn, has boosted the Middle East skin care market.
At the same time, several lockdown measures and import & export restrictions on goods posed an array of key challenges for the exporters, especially during the initial phase. However, the global situation is getting better and the market is anticipated to revive soon.
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The Middle East skin care products market is analyzed across type, purpose, and country.
On the basis of type, the face care segment accounted for nearly half of the total market share in 2019, and is projected to rule the roost by the end of 2027. The eye care segment, however, would manifest the fastest CAGR of 11.9% from 2021 to 2027.
On the basis of purpose, the hydration segment contributed to the highest market share, with nearly one-third of the total market revenue in 2019, and is expected to lead the trail by 2027. At the same time, the repair/renewal segment would portray the fastest CAGR of 9.6% throughout the forecast period.
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The key market players analyzed in the Middle East skin care products market report include Johnson & Johnson Services, Inc., Procter & Gamble, Revlon, Inc., Unilever Plc., L’oréal S.A., Beiersdorf AG., Shiseido Company Limited, The Estée Lauder Companies Inc., and Kao Corporation. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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