Saudi Arabia Cosmetics Market

Introduction

Cosmetics refer to the category of health and beauty products that are used to care for the face and other parts of the body. The cosmetics product helps in cleaning, improving, and changing the complexion, skin, hair, nails, or teeth. A beauty or grooming product is usually a cosmetic but is legally classified as a drug if it makes any claims to modify any body function or to prevent or treat diseases.

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Major Saudi Arabia Cosmetics Market Drivers

Saudi Arabia cosmetics market is majorly driven by growing awareness amongst millennials for enhancing their personal appearance, expansion of retail outlets, and rising penetration of social media platforms. Saudi Arabia has a significant young population, as per recent estimates more than 2/3rd of the population in the country is below the age of 35. With increasing penetration of social media platforms, young population in Saudi Arabia is getting more influenced by cosmetic products coupled with rise in disposable incomes and improvements in living standards, are positively impacting the Saudi Arabia cosmetic products market growth.

Growing acceptance towards online shopping and advancements in packaging technology, are some of the factors boosting the growth of Saudi Arabia cosmetics market. Moreover, people are becoming aware about the numerous benefits offered by the halal products, and increasing concerns related to the use of animal derived products like collagen in cosmetics, are boosting the demand for halal products, which is driving the Saudi Arabia halal cosmetics market.

Constant innovation and introduction of eco-friendly packaging designs is attracting a new consumer base towards the market. The harsh climatic conditions, poor water quality, and the growing focus on personal wellbeing are certain other factors that are increasing the requirement for sophisticated beauty and personal care routine and regular treatments. The Saudi Food and Drug Authority (SFDA) appointed SGS Société Générale de Surveillance SA to offer Conformity Assessment services for the import of cosmetic and personal care products into the Kingdom of Saudi Arabia. Furthermore, the eCommerce market in Saudi Arabia is growing at a higher rate, which will allow the cosmetics companies to make their products easily available on different online platforms.

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Based on the category, the market is segmented into skin and sun care products, hair care products, deodorants, makeup and colour cosmetics, fragrances, and others. The skin and sun care products segment is projected to grow at higher CAGR. This is attributed to the accelerating awareness related to the various benefits offered by skin care products among the young age group. In addition to this, the increasing adoption of organic products to keep skin natural and protected from chemicals and pollution is further surging the growth of the segment in the market.

On the basis of the distribution channel, the market is segmented into retail stores and online sales. Among them, online sales segment is anticipated to witness a higher CAGR. The ability of online stores to offer an enhanced shopping experience is one of the key drivers that is boosting the growth of the segment. Customers can read reviews of other customers and watch videos about how to use certain products, which helps them to understand product in a better way. Furthermore, online platforms provide multiple varieties, anytime shopping experience, and exclusive discounts, which will help in gaining more popularity among customers.

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Key Developments

• • In July 2022 Hermès, a major luxury goods company based out of France inaugurated its first ever perfume and cosmetic store in Saudi Arabia, which is located in one of the largest shopping malls in Riyadh.
  • In March 2022, Bayer launched a new formulated Bepanthen Derma skin offering in Saudi Arabia, which consist of 8 products with face creams, cleansers, and body lotions.

The Saudi Arabia Cosmetics Market has been segmented on the basis of category, distribution channel, gender. Based on category, the market is segmented into skin and sun care products, hair care products, deodorants, makeup and color cosmetics, fragrances, and others. Based on distribution channel, the market is segmented into retail sales, and online sales. Based on gender, the market is segmented into men, and women.

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Key questions answered in this research report:

• • At what pace is Saudi Arabia Cosmetics Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Saudi Arabia Cosmetics Market? What will be the impact of drivers and restraints in the future?
  • Which category generated maximum revenues in 2019 and identify the most promising categories during the forecast period?
  • What are the various distribution channels of Saudi Arabia Cosmetics Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Saudi Arabia Cosmetics Market by Category

• • Skin and Sun care products
  • Hair care products
  • Deodorants
  • Makeup and Color cosmetics
  • Fragrances
  • Others

Saudi Arabia Cosmetics Market by Distribution Channel

• • Retail Sales Channel
    • General departmental store
    • Supermarkets
    • Drug stores
    • Brand outlets
    • Others
  • Online Sales Channel

Saudi Arabia Cosmetics Market by Gender

• • Men
  • Women