Saudi Arabia cosmetics market is expected to grow at a steady rate during the forecast period. An increase in the number of users who are self-aware about their appearance is the major driver for the growth of cosmetics market in Saudi Arabia. Growing market demand for organized retailer channels due to the adoption of brand marketing strategies by major players is aiding the Saudi Arabia cosmetics market’s growth.
Also, the introduction of male grooming cosmetics line to widen the consumer base and increase the sale of cosmetics products is influencing the Saudi Arabia cosmetics market. The residents of Saudi Arabia are actively purchasing cosmetics products to satisfy the beauty standards and enhance their appearance. Saudi Arabia consists of a major youth population who are indulging in the purchase for cosmetics and creating a potential rise for new business opportunities and surge in the existing market.
A rise in disposable income among the residents of the country is raising the affordability of consumers to buy cosmetics products. Also, there is a rise in demand for fragrance and cosmetics products from the youth which is leading to a larger consumption pattern for cosmetics in Saudi Arabia. Consumers are increasingly becoming aware of several benefits offered by a wide range of cosmetics products which are made from natural, herbal and halal products. This is boosting the demand for cosmetic products in Saudi Arabia.
Saudi Arabia cosmetics market is segmented into category, distribution channel, region, and company. Based on distribution channel, the market is further divided into general retailers, supermarket/hyper market, specialty retailers, online sales channel, and others. Online sales channel is expected to hold major market share in Saudi Arabia due to lucrative offers and discounts offered. Also, the convenience of shopping from the comfort of homes and the traveling time utilized in completing other tasks is fueling the online sales channel in the Saudi Arabia cosmetics market.
The major players operating in the Saudi Arabia cosmetics market are Arabian Oud, L'Oréal KSA, Oriflame Saudi Arabia, Unilever Arabia, Procter & Gamble Saudi Arabia, Avon Beauty Arabia, Sephora Saudi Arabia, Shiseido KSA, Dior Beauty KSA, The Estée Lauder Companies Inc, among others. Major companies are developing innovative products and launching them to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments.
Objective of the Study
- To analyze the historical growth in the market size of the Saudi Arabia cosmetics market from 2017 to 2021.
- To estimate and forecast the market size of the Saudi Arabia cosmetics market from 2022 to 2027 and growth rate until t2027.
- To classify and forecast the Saudi Arabia cosmetics market based on category, distribution channel, region, and company.
- To identify the dominant region or segment in the Saudi Arabia cosmetics market.
- To identify drivers and challenges for the Saudi Arabia cosmetics market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Saudi Arabia cosmetics market.
- To identify and analyze the profile of leading players operating in the Saudi Arabia cosmetics market.
- To identify key sustainable strategies adopted by market players in the Saudi Arabia cosmetics market.
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Market insights research performed both primary as well as exhaustive secondary research for this study. Initially, Market insights research sourced a list of manufacturers across the globe. Subsequently, Market insights research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, Market insights research could include the manufacturers which could not be identified due to the limitations of secondary research. Market insights research analyzed the manufacturers, distribution channels and presence of all major players across the globe.
Market insights research calculated the market size of
Key Target Audience
- Cosmetics manufacturing companies
- Market research and consulting firms
- Government bodies such as regulating authorities and policy makers
- Organizations, forums, and alliances related to cosmetics market
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
