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Saudi Arabia's cosmetics market has an average annual growth rate of 11%, and women in the workplace

Date: 2019-08-13
BrowsingS: 9
Source: 中东非资讯平台
Author:
Release date: 2019-08-13
BrowsingS: 9

TechSci Research, an international market research and management advisory body based in Benabi, British Columbia, Canada, reported this month in 'Competition Predictions and Opportunities for Muslim and Ordinary Cosmetics Based on Different Product Types, Distribution Areas, Ages, and Muslim Cosmetics in Saudi Arabia'.

The report analyses that Saudi Arabian women's cosmetics market is expected to grow dramatically as personal income increases and women's preference for cosmetics in the country increases, as well as to maintain a youthful look.

The report also analyses that with the construction of cosmetics retail network, the visibility and feasibility of the general cosmetics market and the Muslim cosmetics market are emerging, which are among the forces promoting the rapid growth of the cosmetics market in Saudi Arabia. In fact, it is reported that Saudi Arabia can be said to be an emerging market with great potential in cosmetics market. Continuous product innovation, increased awareness of online shopping, and catering to the trend of fashion will make the Saudi women's cosmetics market explode before 2022.

Meanwhile, according to the World Bank survey, female workers accounted for 15.23% of the total workforce in Saudi Arabia in 2014. As the proportion of men and women in Saudi Arabia's workplace changes dramatically, the market demand for women's cosmetics will expand.

Saudi Arabian women value appearance and are willing to invest in themselves. Because of dry climate, moisturizing and wrinkle-removing cosmetics are the most purchased. Generally speaking, wrinkle-removing cosmetics buy high-end brands, while other cosmetics consider cost-effectiveness.

In 2015, the cosmetics market in Saudi Arabia increased by 15.5% compared with the previous year. The number of women in the workplace increased sharply. Urbanization and Westernization had an impact on cosmetics consumption.

Cosmetics unit price growth stays at 2%, brand competition is becoming more and more fierce. Recently, there are more and more international brand new products in the cosmetics market of Saudi Arabia, and the promotional activities are also diversified.

High-end brand wrinkle-removing cosmetics surged, while other types of cosmetics grew at a rate of more than 10%.

The Saudi Arabian women's cosmetics market is broadly divided into four categories: basic skin care, make-up, perfume and others. Last year, the largest share of the market share was perfume, which showed that the degree of concern for personal image has been greatly improved. The perfume of Saudi Arabian women is the most concerned product.

Cosmetics in Saudi Arabia are mainly sold through counters, pharmacies, supermarkets and wholesale stores, while high-end brands are mainly sold in counters.

Saudi Arabia's cosmetics market has an average annual growth rate of 11%, and women in the workplace

The highest popularity of basic cosmetics is a feature of recent cosmetic consumption. BB cream sales have increased significantly. Whitening cosmetics are also popular with young people.

The highest market share of cosmetics in Saudi Arabia is Nivea in Germany, with 18% in 2015. Nivea promotes product awareness through mass media advertising and sells a large number of skin management related products.

Unilever's Saudi Arabian Binzagr innovation product attracts a large number of consumers. Last year, it listed Vaseline spray moisturizing spray, canned gel and other products. In addition, Petrov, Ponzi, L'Oreal, Lancome, Johnson & Johnson, Fisch Shop, IELTS Lauder and Ludeqing are also famous in Saudi Arabia.

Affected by the Korean Current, young women are keen on Korean cosmetics. Some local circulation agencies import BB frost, milk and frost, etc., which are sold online and through specialist counters, making a great profit.

It is predicted that the cosmetics market in Saudi Arabia is not far from the world level. In addition to moisturizing and wrinkling products, young consumers are interested in functional cosmetics such as whitening, anti-ultraviolet, acne and so on. The related functional cosmetics will grow rapidly.

Higher disposable income combined with changes in women's lifestyles are great opportunities for cosmetics companies to enter the local market.


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