Saudi Arabia Cosmetics Market – Opportunities & Forecast, 2020-2027

 

The market report analyses the market while considering various aspects of the market such as market size, market status, market trends, and forecast. The report also offers brief information on the competitors and specific growth opportunities while covering the key drivers of the market. The report has been categorized based on the different segments, including category, distribution channel, and gender.

Saudi Arabia Cosmetics Market drivers:

The Saudi Arabia Cosmetics market is experiencing an upsurge in demand over the forecast period. This is mainly due to the growing number of self-conscious users, along with the rising penetration of organized retail channels in Saudi Arabia. Moreover, the increasing aging population and the rising focus on male grooming products are certain factors driving the growth of the market during the forecast period. Saudi Arabia is one of the biggest countries that is rapidly opting for cosmetics products in the market. Jeddah and Riyadh are the most popular cities which have the highest young population rate, thus illustrating a larger consumption pattern for cosmetics and fragrance products over the next six years. Furthermore, people are becoming aware of the various benefits provided by natural/ organic, halal, and herbal products, which in turn, is promoting them to opt for these products.

The constant innovation and launch of eco-friendly packaging designs are attracting a new consumer base towards the market. The harsh climatic conditions, the rising focus on personal well-being and poor water quality are factors that raise the requirement for sophisticated beauty and personal care routine and regular treatments. The Saudi Food and Drug Authority (SFDA) appointed SGS Société Générale de Surveillance SA to provide Conformity Assessment services for the import of cosmetic and personal care products into the Kingdom of Saudi Arabia. The main purpose of this program is to ensure conformity and compliance with cosmetics and personal care products imported into the country. Thereby, the increasing number of initiatives and programs introduced to support the import of cosmetics into the country will propel the growth of the market. In addition to this, the eCommerce market in Saudi Arabia is increasing at a higher rate, which will enable the cosmetics companies to make their products easily available on various online platforms.

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Saudi Arabia Cosmetics Market Segmentation:

According to the report published by GMI Research, titled “Saudi Arabia Cosmetics Market,” the industry is predicted to witness the highest CAGR during the forecast period. The segmentation of the market is as follows:

By Category:

·         Skin and Sun care products

·         Hair care products

·         Deodorants

·         Makeup and Color cosmetics

·         Fragrances

·         Others

By Distribution Channel:

·         Retail Sales Channel

o   General departmental store

o   Supermarkets

o   Drug stores

o   Brand outlets

o   Others

·         Online Sales Channel

By Gender:

·         Men

·         Women

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