Varie
Saudi Arabian Color Cosmetics Market to Generate $1,197.2 Million Revenue by 2030, says P&S Intelligence
In the near future, the faster growth within the type segment of the Saudi Arabian color cosmetics market will be seen in the luxury product bifurcation. With their increasing purchasing power, people here are spending more on luxury products, which give a better overall appearance and last longer.
The facial make-up category is set to dominate the product segment of the Saudi Arabian color cosmetics market in the coming years. The demand for different shades of blushes, foundations, and bronzers that contain light-capturing crystals is growing as people, especially working women, in the kingdom are becoming more aware of their appearance.
In the past, the one-time bifurcation held the larger share in the Saudi Arabian color cosmetics market, based on packaging. One-time plastic packaging has been widely used for cosmetics, leading to its market dominance.
The highest CAGR within the consumer group segment of the Saudi Arabian color cosmetics market, of 7.3%, is predicted to be witnessed in the women category. Females, especially those in the corporate and media & entertainment sectors and those who socialize often, are the major users of color cosmetics in the kingdom.
Historically, the highest revenue to the Saudi Arabian color cosmetics market, under segmentation by distribution channel, was contributed by the supermarket/hypermarket category. Such retail stores offer a wide variety of products, have ample parking space, and operate during convenient hours. Moreover, the rapid urbanization, which is leading to the increasing number of hypermarkets and supermarkets, and the competitive product pricing they boast are propelling color cosmetic sales via this distribution channel.
The key forces behind the rising demand for such products are:
The Western region is the largest contributor to the Saudi Arabian color cosmetics market, and it will also experience the fastest growth in the coming years. The high disposable income in this region as a result of the large-scale urbanization has led to high cosmetic sales here.
The key Saudi Arabian color cosmetics market players are L'Oréal S.A., Unilever Group, The Procter & Gamble Company, Beiersdorf AG, Shiseido Co. Ltd., The Estée Lauder Companies Inc., Avon Products Inc., LVMH Moët Hennessy-Louis Vuitton SE, Oriflame Holding AG, and Coty Inc.
Dubai is the largest emirate in the U.A.E. color cosmetics market as it is the country's financial and cultural center. Hence, people here have a higher purchasing power than those in other cities, which boosts the sale of color cosmetics here.
- The western region of the kingdom holds the largest share in the Saudi Arabian fragrance market, and it will retain its dominance in the near future. The rapid urbanization and rise in the disposable income of the people in this part of the kingdom are pushing up fragrance sales.
- In the years to come, the highest CAGR in the U.A.E. fragrance market, of 9.1%, on the basis of product, will be seen in the eau de parfum category. Due to their higher concentration of essential oils, such perfumes are stronger and longer lasting than most other types.
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
Prajneesh Kumar
P&S Intelligence
Phone: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com
Follow Us: LinkedInTwitter
Logo: https://mma.prnewswire.com/media/1224988/P_and_S_Intelligence_Logo.jpg