GCC Color Cosmetics Market Report: By Type, Product, Package, Consumer Group, Distribution Channel – Latest Trends, Competitive Analysis, and Business Opportunities, 2022-2030
New York, April 28, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of “GCC Color Cosmetics Market Report: By Type, Product, Packaging, Consumer Group, Distribution Channel – Latest Trends, Competition Analysis, and Business Opportunities, 2022-2030” – https://www.reportlinker.com/p06272185/?utm_source=GNW
According to the published market research, the GCC color cosmetics market size, which was estimated at USD 1,277.2 million in 2021, is expected to reach USD 2,314.5 million by 2030, at a CAGR by 6.8%. Of all the Gulf Cooperation Council countries, Saudi Arabia is experiencing the highest sale of these products due to its large population and increasing number of women in the workforce. Additionally, disposable income in the kingdom increased from $617,848.7 million in 2016 to $658,493.5 million in 2017.
Similarly, the United Arab Emirates is a key user of these products due to its position as a major financial and tourist hub in the Middle East. As a result, he enjoys a high culture, which pushes people’s awareness about their appearance. This is why personal care companies invest large sums in marketing their products in the country, often through social media influencers. The UAE has more than 1,000 such entities that review and promote cosmetics and other related products on the internet.
Key Findings of the GCC Color Cosmetics Market Report
• However, as chemical-laden cosmetics are harmful to the skin in the long term, the demand for those made from organic ingredients is increasing in member countries.
• Among all the products, those used for facial makeup are the most popular in the GCC countries. With men and women engaging more and more in social obligations, they are doing more than ever to improve their facial appearance.
• Women-specific products have dominated the GCC color cosmetics market so far. Indeed, compared to men, women are more aware of their appearance, especially since many of them have now entered the labor market.
• For example, compared to 11.5% in 2010, 16.7% of those employed in the UAE in 2017 were women, according to the World Bank. In addition to making them concerned about their appearance, this leads to an increase in their purchasing power, which stimulates sales of cosmetics.
• Additionally, the growing use of Instagram, Facebook, YouTube, Twitter, and Pinterest and the increase in viewership of personal beauty blogs provide market players with more ways to promote their products.
• This is also one of the main reasons why the sale of cosmetics in the region is expected to grow the fastest through online channels in the coming years.
In turn, the advancement of the e-commerce industry is helping to drive the GCC color cosmetics market in the post-COVID-19 era. During the shutdowns, there has been a major shift from offline to online shopping for almost every type of merchandise. As people are now more aware of the benefits of shopping online than before, such as the ability to compare products from different brands and get discounts, sales of cosmetics through e-commerce platforms are booming.
Thus, major players in the GCC color cosmetics market including L’Oreal SA, Unilever Group, Beiersdorf AG, The Procter & Gamble Company, Shiseido Co. Ltd., The Estée Lauder Companies Inc., LVMH Moët Hennessy- Louis Vuitton SE, Avon Products Inc., Oriflame Holding AG, Coty Inc., Guerlain SA, Revlon Inc. and MAC Cosmetics are investing in better digital marketing technologies. For example, Coty Inc. added AR and VR tools to its online marketing ecosystem in September 2021, while in October 2020 L’Oréal Group partnered with Sprinklr, a CXM platform integrated with the AI.
Read the full report: https://www.reportlinker.com/p06272185/?utm_source=GNW
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