the hydration segment accounted for highest share in the Middle East skin care products market growth and is projected to grow at a CAGR of 3.5% by 2027
PORTLAND, OREGON, UNITED STATES, May 31, 2023/EINPresswire.com/ — Allied Market Research According to a new report published by Allied Market Research, titled, “Middle East skin care products market by type and purpose: opportunity analysis and industry forecast, 2021–2027,” The Middle East skin care products market size was valued at $1,781.1 million in 2019, and is projected reach $1,926.6 million by 2027, registering a CAGR of 5.8% from 2021 to 2027.
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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.
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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.
Moreover, owing to the outbreak of the COVID-19 pandemic, manufacturers have increased social media advertisement for using herbal skin care products to reach a large consumer base. However, implementation of lockdown and curfew practices globally has affected domestic as well as international production of skin care products, which, in turn, hampers the growth of the overall market. Thus, the outbreak of COVID-19 has negatively impacted the Middle East skin care products market share in 2020, as sales of companies have reduced and operations have been halted.
The Middle East skin care products market is segmented on the basis of type, purpose, and country. By type, it is classified into face care, lip care, body care, eyecare, and others. By purpose, it is divided into whitening/brightening, anti-aging, anti-acne/anti-blemish, repair/renewal and hydration. By country the market is bifurcated into KSA, UAE and other GCC.
Key Findings Of The Study
By type, the face care segment dominated the market in 2019, and is expected to retain its dominance throughout the Middle East skin care products market forecast period.
By purpose, the hydration segment accounted for highest share in the Middle East skin care products market growth in 2019, and is projected to grow at a CAGR of 3.5% from 2021 to 2027.
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The key players profiled in the Middle East skin care products industry report includes Procter & Gamble, The Estée Lauder Companies Inc., Johnson & Johnson Services, Inc., Kao Corporation, Unilever Plc., L’oréal S.A., Beiersdorf AG., Shiseido Company Limited, and Revlon, Inc..
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