Published: March 2022 | Report Code: 12271 | Available Format: PDF | Pages: 192
In 2021, a $1,277.2 million value was generated from the sale of color cosmetic products in the GCC region. This market is expected to reach $2,314.5 million by 2030, progressing at a CAGR of 6.8% during 2021–2030. This can be ascribed to the increasing disposable income and surging focus of the population toward their appearance enhancement. For instance, according to the Census and Economic Information Center, the disposable income of people in the U.A.E. increased to $299,569.0 million in 2020, from $257,386.2 million in 2010, and in Saudi Arabia, it rose to $658,493.5 million in 2017 from $617,848.7 million in 2016.
Moreover, the increasing demand for organic color cosmetics, rising number of digital marketing channels and influencers, and growing working women population are playing a pivotal role in the flourishing of the color cosmetics industry in the Gulf Cooperation Council countries. However, due to COVID-19, the industry faced several challenges that hampered the market growth in 2020. Manufacturing facilities across the globe were temporarily shut down due to lockdown in 2020. Additionally, the supply chain was completely halted in the pandemic year, which was one of the major obstructions in the growth of the industry. In addition, the shutdown of physical cosmetic stores and beauty salons across the region had negatively impacted the market.
Due to the lifting of lockdowns and other COVID-19 restrictions, the market has started recovering since 2021, as corporates and other facilities have reopened in the GCC. Moreover, the e-commerce channel plays a key role in recovering the market, as it is the only channel that has been highly active in recent years. Also, e-commerce platforms offer diverse product options, door-to-door delivery, and secure payment gateways, which will propel the sale of color cosmetic products through the online channel in the coming years.
In the GCC, the demand for luxury products is expected to grow at a higher CAGR, of more than 7%, during 2021–2030. This can be ascribed to the increasing personal income and surging consumer spending. Moreover, changing lifestyles; rising consumer awareness on cosmetics; and appealing packaging are also expected to stimulate the sales of luxury products in the future.
Report Attribute | Details |
---|---|
Market Size in 2021 |
$1,277.2 Million (Estimated) |
Historical Years |
2017–2021 |
Forecast Years |
2022–2030 |
Revenue Forecast in 2030 |
$2,314.5 Million |
Growth Rate |
6.8% CAGR |
Segments Covered |
By Type, By Product, By Packaging, By Consumer Group, By Distribution Channel, By Country |
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
Countries Covered |
U.A.E., Saudi Arabia, Oman, Qatar, Kuwait, Bahrain |
Color cosmetic products used by women contributed more than 80% revenue share in the market in 2021. This is mainly due to women's growing spending power, surging population of working women, rising GDP per capita, availability of better products, growing awareness of females toward diverse products, and increasing advertising activities for active color cosmetics for females. For instance, during 2018‒2020, the employment rate of women aged 40‒54 years increased by around 20%, and of the age group 18‒39 years increased by at least 10%, in Saudi Arabia. Private sector employment of Saudi women, on the other hand, grew among most economic activities, with the majority showing an increase of over 10%. Female employment in labor-intensive sectors such as construction, manufacturing, and accommodation and food grew by 9%, 14%, and 40%, respectively, from 2019 to 2020.
The facial make-up products category is leading the market, with more than 50% revenue share. Availability of an extensive range of facial make-up products and a large proportion of the youth population are supporting the growth of the market in this category.
For instance, the population of Dubai consisted of youngsters aged 15–19 years (accounted for 3.3% of the total population), young persons aged 20‒24 years (7.8%), and adults aged 25‒44 years (58.5%) in 2020. In addition, teens are demanding a greater diversity of cosmetics and fragrances and spending more on products that improve their appearance. Nowadays, the teenage group is involved in social events, partying, and other activities, which have led to the rising demand for color cosmetics, including facial make-ups, in order to improve appearance, smell better, and create a good impression on peers.
The demand for organic color cosmetic products has been expanding at a high pace. Further, market players are constantly exploring ways to deliver new functionalities and features, and offering diverse products for different skin types (oily, sensitive, and normal). The increasing consumer awareness about the benefits of organic products is also fueling the demand for these products in the region. On the other hand, several factors, such as hormones, diet, smoking, stress, and anxiety affect the health and appearance of the skin negatively. Moreover, the usage of wrong products can trigger allergic reactions. As a result of these, there has been an increase in focus on organic skincare products that help tackle issues specific to various skin types.
Furthermore, soaring environmental issues and strengthening focus on sustainability will continue helping the market gain traction. The manufacturing of green products is more eco-friendly as compared to conventional products, and these products also have fewer side effects.
Instagram, YouTube, Facebook, Twitter, Pinterest, and personal beauty blogs are the main digital marketing channels influencing consumers to try new cosmetic products. Manufacturers are collaborating with social media influencers for marketing their products. In the U.A.E., there were approximately 1,000 beauty influencers, as of August 2021, including Elnaz Golrokh, Eljammi Gozali, Joelle Mardinian, Samira Olfat, Alreem Saif, Huda Heidi Kattan, Najla Kaddour, Sonia Ali, and Fyza Ali, who have created an influence over people regarding color cosmetics. Thus, the digital platform is a crucial marketing tool for producers, where they can directly interact with consumers or promote their products.
The GCC color cosmetics market is fragmented, with the presence of major players. In recent years, they have been involved in product launches and acquisitions in order to stay ahead of their competitors. For instance:
The GCC color cosmetics market report offers comprehensive market segmentation analysis along with market estimation for the period 2017–2030.
Based on Type
Based on Product
Based on Packaging
Based on Consumer Group
Based on Distribution Channel
Geographical Analysis
In 2030, the value of the GCC color cosmetics market will be $2,314.5 million.
Facial make-up products are the largest category under the product segment of the GCC color cosmetics industry.
The major GCC color cosmetics market drivers are the increasing demand for organic color cosmetics, rising number of digital marketing channels and influencers, and growing working women population.
What is the country scenario in the GCC color cosmetics market?
Most GCC color cosmetics market players are adopting partnerships & collaborations strategy to sustain their business growth.
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