GCC Color Cosmetics Market Growth, Development and Demand Forecast Report 2030
With an increase in disposable income, the inclination to look beautiful, and also an increase in the amount of women population in the gulf, there is a need for increasing demand for color cosmetic products. As per the Census and Economic Information Center, the income of the U.A.E. people augmented to $299,569.0 million in 2020, from $257,386.2 million in 2010, and in Saudi Arabia, it went to about $658,493.5 million in 2017 from $617,848.7 million in 2016.
The growing need for organic color cosmetics, the rising volume of digital marketing networks and influencers, and the growing number of employed women are having an essential role in the flourishing of the color cosmetics industry in the GCC countries. In 2021, revenue of $1,277.2 million was created in the GCC color cosmetics market, which will likely touch $2,314.5 million by 2030, advancing at a compound annual growth rate of 6.8% during 2021–2030.
Women are the larger users of cosmetic products, and the GCC is also not an exception to this fact. Cosmetic products that are used by women contribute in excess of 80% of revenue in 2021. This is largely because of women's increasing disposable income, the increasing population of working women, growing GDP per capita, accessibility of improved products, budding awareness of ladies toward varied products, and snowballing advertising actions for active color cosmetics for females.
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The need for bio-based color cosmetic goods has been increasing at a high pace. Companies are continually exploring new ways to transport new functionalities and features, and giving out varied products for diverse skin types. The growing consumer consciousness pertaining to aid of organic products is too powering the requirement for these products. Conversely, numerous factors, like diet, smoking, stress, and anxiety have an effect on the health and appearance of skin. Furthermore, wrong products can cause allergic reactions.
The demand for color cosmetics in the GCC has a lot to do with the increasing disposable income of the people, the surge in the amount of working population and an inclination to look beautiful and charming.