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.
Skin care products are witnessing an increased adoption in recent years, owing to rise in young demography, incremental disposable income, and increase in consciousness of personal well-being and desire to develop & maintain strong identity and self-image. In addition, surge in awareness amongst Middle East consumer regarding physical appearance and rise in demand for personalized products & services boost the growth of the skin care products market in the Middle East. Moreover, various multinational brands such as L’oréal S.A., The Estée Lauder Companies Inc. and Beiersdorf AG have entered into the Middle East market, and are focusing on increasing their customer base through their respective pricing strategies and by providing high-quality products to the consumers.
Upsurge in demand for herbal and natural skin care products is anticipated to boost the growth of the Middle East skin care products market in the upcoming years. Moreover, support from government to cosmetic enterprises for local expansion is expected to boost the Middle East skin care products market opportunities during the forecast period.
Furthermore, male skin care products are being increasingly adopted among urban men in the Middle East, as they believe that male skin care products can effectively develop their appearance, which, in turn, is anticipated to lead to improved social and work life. Moreover, male consumers majorly belong to millennial and generation X, from middle-upper classes where the penetration of smartphones and internet is higher. Furthermore, improvement in lifestyle and rise in fashion consciousness among men in the Middle East have significantly contributed toward the growth of the Middle East skin care products market trends.
Beauty bloggers and social media influencers are creating new growth avenues for the market. Moreover, increase in advertisements along with product knowledge on social media sites such as Facebook, YouTube, Instagram, and Twitter has increased the awareness regarding skin care products, especially among millennial and generation X consumers of the Middle East. In addition, a number of local YouTubers are now hosting popular channels to demonstrate product reviews and tutorials, which, in turn, drives the growth of the market.
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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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