Saudi Arabia Cosmetics and Personal Care Market Poised for Rapid Growth: Estimated to Grow at CAGR of 10.9 % During the Forecast Period

Published | 07 July 2021

A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the Saudi Arabia cosmetics and personal care market was worth USD 3.7 billion in the year 2020. The market is estimated to grow at the CAGR of 10.9%, earning revenue of around USD 7.6 billion by the end of 2027. Saudi Arabia's target demographic is willing to spend more on improving their physical image as a result of evolving customer lifestyles and increasing disposable income. These are leading factors driving the Saudi Arabia cosmetics and personal care market forward. Furthermore, since branded products and luxury items sold on the international market are linked to social status, luxury cosmetic brands have a strong presence in this region, which is further propelling the market growth.

The Rise in Women Workforce is Boosting the Saudi Arabia Cosmetics and Personal Care Market

The culture of a region, country, or community is always changing and developing. Culture plays a major role in influencing consumer behavior. In Saudi Arabia, since more and more women are entering the workforce, they form the primary target customer base. Cosmetic products are in high demand since working women want to look professional and presentable. Employment provides them with enormous buying power and complete control of their expenditures. Furthermore, since women are more concerned about their skin and personal care. they are willing to spend a handsome amount on achieving healthy and attractive skin, which is giving a boost to the overall cosmetic and personal care market.

The Rise in Demand for Men’s Grooming Products is Favoring the Growth of Saudi Arabia Cosmetics and Personal Care Market

Grooming and personal care are no longer limited to women. The men's grooming goods market is also emerging as a growing market, which businesses are paying attention to. Growing concern for the skin, as well as a desire to look healthy and presentable, is helping the industry in gaining momentum. These skincare products are explicitly formulated to cater to males' rough skin, which appeals to them. Furthermore, the use of cosmetic and grooming products for men is growing among social media influencers and public figures like actors and models, which is influencing the consumption of these products among men, driving its market growth forward.

The increasing popularity of the online segment driving Saudi Arabia Cosmetics and Personal Care Market

Based on the distribution channel, the online segment is growing at a very impressive pace. This growth is the result of various factors. The online segment offers more product ranges for both beauty and personal care as compared to retail, along with the option of door-step delivery. Consumers nowadays are increasingly opting for zero-contact delivery due to safety concerns, especially in the post-covid-19 period. This is further driving the market growth. Because of this convenience, the online segment of Saudi Arabia cosmetics and personal care market is gaining traction and is estimated to grow during the forecast period.

Saudi Arabia Cosmetics and Personal Care Market: Regional Insight

Based on region, Saudi Arabia is divided into Northeast, Midwest, and West. Because of the increasing demographics of the target consumer base, all of these regions witness a significant demand for beauty and personal care products. That is why the overall market is growing at high CAGR and is expected to grow further in the forecast period. Saudi Arabia has one of the highest cosmetics and personal care consumption rates. This is because these regions have a high demographic of younger and working population. Due to the economic stability and high purchasing power of the people in the region, the Saudi Arabia cosmetics and personal care market is growing substantially and is expected to grow at a faster pace during the forecast period.

Impact of Covid-19 on Saudi Arabia Cosmetics and Personal Care Market

The outbreak of COVID-19 and the declaration of pandemic halted the overall Saudi Arabia cosmetics and personal care market. Due to lockdown, the purchasing power of the citizens declined, and the unemployment level rose to an all-time high. Because of this, the consumption of beauty products and personal care substantially decreased as people were compelled to prioritize essential goods. This factor extremely affected the overall cosmetic and personal care market in Saudi Arabia.

Furthermore, retail stores are the most important distribution channel. As these stores were closed following the imposition of curfews and lockdowns, sales plummeted exponentially. Nevertheless, the COVID-19 scenario also provided tremendous opportunities and paved the way for the online distribution market, thereby enabling the Saudi Arabia cosmetics and personal care market to thrive in the post COVID-era.

Saudi Arabia Cosmetics and Personal Care Market: Competitive Landscape

The key players in the Saudi Arabia cosmetics and personal care market are Procter & Gamble, Unilever Plc, Avon Cosmetics, Beiersdorf AG, Estée Lauder Inc., L’Oréal Saudi Arabia, OnePure LLC, Inika, Saaf Skincare, Shiseido Company Ltd., Natura & Co., Oriflame Cosmetics SA, Clara International Beauty Group, Louis Vuitton Saudi Arabia and other prominent players.

The Saudi Arabia cosmetics and personal care market is highly competitive because of the strong prominence of both global and regional market players. The country has one of the highest cosmetic product consumption rates. As a result, new entrants are pushing their way into the market with their products. Constant innovations are being carried out to cater to the needs of the Saudi Arabian skin, which differs from that of its Western counterparts. Due to the hot, humid climate, companies need to offer products that can keep the skin hydrated for longer periods. Therefore, industry players are taking measures to offer a vast variety of options to attract potential customers. 

Don’t miss the business opportunity of the Saudi Arabia cosmetics and personal care market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the Saudi Arabia cosmetics and personal care market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the Saudi Arabia cosmetics and personal care market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.

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