UAE Cosmetics Market Eyeing Impressive Growth of 4.1% CAGR by 2027
Published | 13 September 2021
UAE cosmetics market is growing at a high CAGR because of the changing beauty standards and consumer preference regarding cosmetic products, along with the availability of a wide range of products...
A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that UAE cosmetics market is estimated to grow at a CAGR of 4.1%% during the forecast period. The growth of the UAE cosmetics market is attributable to changing beauty standards and consumer preferences. The cosmetics brands are constantly releasing new and natural skin care products to meet the changing consumer demands. Among the products launched by the company is a section aimed at men's makeup, which will grow significantly over the next few years. Furthermore, the increasing working population, especially the women working people, substantially influences the market’s growth. The increasing working population is further improving their living standards because of which they can spend more on their appearance and aesthetics.
Emerging Online Platforms for Cosmetics Products Is Driving UAE Cosmetics Market Growth
There has been a significant increase in online platforms for beauty products and cosmetics in the UAE. As a result, online platforms such as Ounass, Basharacare, GlamBeaute, and K Girls Closet have gained enormous popularity in the country. These online platforms offer delivery of a variety of cosmetic products from popular to luxury brands. What’s more, payments can be made online via debit and credit cards, as well as cash on delivery. These flourishing online platforms are likely to drive the market in the forecast period.
The Increasing Penetration of Halal Cosmetic Is Expected to Boost the Market Growth in The Forecast Period
Halal cosmetics is all rage in the UAE’s beauty industry. Cosmetics items must be halal approved in order to sell in the UAE. Halal products are free from alcohol, pork, and animal enzymes, such as blood, which are considered forbidden in Islam. Therefore, the cosmetic brands are continuously launching halal cosmetics products to tap these potential markets. For instance, the Halal Cosmetics Company, a UK brand, has entered the UAE market with its range of halal skincare products. Such launches are expected to drive the UAE cosmetics market throughout the projected period.
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Facial Makeup Products Dominate the UAE Cosmetics Market
Based on product types, UAE cosmetics market is segmented into facial makeup products, eye makeup products, lip & nail makeup products, hair colors, and hair styling products. Facial makeup products hold the largest share in the UAE’s cosmetic market because of the high prominence of skincare issues. Facial makeup products such as foundation, concealer, primer, etc., are widely used for hiding skin issues such as blemishes, hyperpigmentation, inflammation, dark circles, signs of aging, etc. However, eye makeup also covers a substantial share of the UAE cosmetics market.
UAE Market - Regional Insights
Geographically, the UAE cosmetics market is segmented into Dubai, Abu Dhabi, Sharjah, Umm Al Quwain, Ras Al Khaimah, Fujairah, and Ajman. Dubai dominates the UAE cosmetics market with the highest number of the working population in this region, along with higher living standards. Women’s power is on the rise in Dubai’s workplace. With more and more Emirati women entering the workplace and gaining positions of power, the UAE cosmetics market is growing substantially. On the other hand, Abu Dhabi also covers a substantial share in the market and is growing at a high rate. The increasing working-class population in these regions is also contributing to the growth of the cosmetic market.
Impact of COVID-19 on UAE Cosmetics Market
The COVID-19 outbreak and the pandemic significantly halted the growth of the UAE cosmetics market. The downfall in the demand for cosmetic products in UAE is the result of slow or limited local demand, decreasing expatriate population as well as declining international visitors. Another major reason for slow growth in the cosmetics market in UAE is expected to be the declining purchasing power of people due to job losses. Although the lockdown has been lifted and retail outlets and specialized businesses have resumed operations, analysts believe it will take some time for the UAE cosmeticsmarketto recover from this dip and return to pre-COVID levels.
The leading market players in the UAE cosmetics market are Huda Beauty, Anastasia Beverly Hills, Shirley Conlon Organics, The Estée Lauder Companies Inc., Shiseido Company, Unilever PLC, Herbal Essentials, Hammamii, Reine Michi Beauty, The Camel Soap Factory, and other prominent players.
The UAE cosmetics market is highly concentrated with the presence of leading cosmetic manufacturers. The market players offer various products, such as essential makeup products for multiple skin types and tones. Additionally, brands offer discounts and deals to attract customers. Furthermore, the companies often adopt competitive strategies like mergers, acquisitions, collaborations, partnerships, etc., to generate brand awareness and increase their product penetration in the market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the UAE cosmetics market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the UAE cosmetics 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.
BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing both qualitative and quantitative data to boost up the performance of your business solutions. BWC has built its reputation from the scratch by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.
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