The color cosmetics market in GCC countries is booming, due to the rising concerns of individuals for their appearance and the increasing disposable income in regional countries, such as Kuwait, Bahrain, Saudi Arabia, and the U.A.E. Furthermore, the changing lifestyles; rising consumer awareness on beauty products, personal care, fashion trends, and organic cosmetic goods; technological improvements in color cosmetics; and appealing packaging are also fueling the market expansion. Because of these factors, the market will likely garner $2,314.5 million revenue by 2030 and show significant growth during the forecast period.
During the COVID-19 pandemic, the demand for color cosmetics in the GCC region decreased, due to the closures of offices, retail stores, and other businesses, as well as a significant decline in social gatherings, which influence consumer preferences and practices. Particularly, the demand for facial make-up products was reduced, due to fewer make-up usage occasions, ongoing mask-wearing trend, remote working environments, and social distancing. In addition, the shutdown of manufacturing facilities across the region and travel bans majorly impacted the market in the pandemic time.
On the contrary, the sale of color cosmetics through e-commerce channels witnessed positive growth during the pandemic, as they offer diverse product options, door-to-door delivery, and secure payment gateways services. In addition to this, the market is expected to recover with the expected increase in cosmetics demand and tourism activities in the region in the coming years.
Based on product, the GCC color cosmetics industry is categorized into nail products, lip products, eye make-up products, facial make-up products, hair color products, special effect products, and others. Among these, facial make-up products emerged as the highest revenue-generating category in 2021. Moreover, this category is expected to witness the fastest growth during the forecast period as well, owing to the rising demand for natural facial color cosmetics, including facial compacts, bronzers, blushes, foundations, and highlighters. Additionally, the increasing number of working women and the rising consciousness about physical appearance among millennial women are leading to the surging sales of facial make-up products.
The color cosmetics market in Saudi Arabia accounted for the largest revenue share in the GCC in 2021, and it is also expected to witness healthy growth during the forecast period. This will majorly be due to the increasing per capita expenditure on cosmetic products, growing population of working women, and surging sales of cosmetics through online channels. Moreover, consumers are increasingly purchasing products after viewing information about them on social media websites and blogs. Thus, the number of consumers regularly purchasing products via the internet will continue to grow over the coming years.
Players in the GCC color cosmetics industry are expanding their product portfolio by involving in partnerships & collaborations to target more customers across GCC. For instance:
Some of the major players operating in the GCC color cosmetics market are L'Oréal S.A., The Procter & Gamble Company, Unilever Group, Beiersdorf AG, The Estée Lauder Companies Inc., Shiseido Co. Ltd., Avon Products Inc., Oriflame Holding AG, LVMH Moët Hennessy-Louis Vuitton SE, Coty Inc. Revlon Inc., Guerlain SA, and MAC Cosmetics.