MENA Cosmeceuticals Market: Current Analysis and Forecast (2023-2030)

Report Description

The MENA Cosmeceuticals Market is expected to reach USD 3.10 Billion in 2030 by growing at a CAGR of 5%.  This market has gained significant traction due to increasing consumer demand for products that go beyond superficial beauty enhancement to provide tangible skincare benefits. Ingredients such as retinoids, antioxidants, and peptides have become staples in cosmeceutical formulations, promising to address concerns like aging, acne, and hyperpigmentation. The market’s growth is driven by rising awareness of skincare and a desire for science-backed, clinically proven solutions. Regulatory aspects remain a key focus, as cosmeceuticals often straddle the line between cosmetics and drugs, necessitating rigorous quality control and adherence to regulatory standards. In the years ahead, innovation and research will continue to shape the cosmeceutical market, offering consumers an ever-expanding range of products that bridge the gap between beauty and skincare.

Some of the major players operating in the L’Oréal S.A, Procter & Gamble, Unilever PLC  Shiseido Co Ltd, Groupe Clarins SA, Beiersdorf AG, Johnson & Johnson, Kao Corporation, Colgate Palmolive Company, Coty Inc. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Based on the distribution channel, the market is segmented into pharmacy, online stores and others. Online segment held a significant share of the market.”

Based on the distribution channel, the market is segmented into pharmacy, online stores, and others. Online segment held a significant share of the market. Online retail platforms have gained tremendous traction in the distribution of cosmeceutical products, transforming the way consumers access these skincare solutions. The convenience, extensive product offerings, and easy access to customer reviews and information make online stores an attractive choice for shoppers. This shift to e-commerce has not only widened the reach of cosmeceuticals to a global audience but has also facilitated the direct-to-consumer model, allowing brands to forge closer connections with their customers.

“Based on the Product, the market is segmented into skin care, hair care, injectibles and others. The skin care segment is expected to grow with a significant CAGR during the forecast period (2023-2030).”

Based on the Product, the market is segmented into skincare, hair care, injectibles, and others. The skin care segment is expected to grow with a significant CAGR during the forecast period (2023-2030). The cosmeceutical market has witnessed a remarkable surge in the adoption of skincare products in recent years. This phenomenon can be attributed to a growing consciousness among consumers about the importance of maintaining healthy and radiant skin. With the desire for skin that not only looks good but also feels good, individuals are increasingly turning to cosmeceutical skincare products. These formulations often incorporate scientifically proven and clinically tested ingredients that address a wide spectrum of skin concerns, from combating the signs of aging to treating specific dermatological issues such as acne and hyperpigmentation.

“Saudi Arabia dominated the market.”

The adoption of cosmeceuticals in Saudi Arabia has been on a steady rise, reflecting the global trend of heightened interest in advanced skincare solutions. In recent news from the Saudi cosmetics sector, it has become evident that the Kingdom is experiencing a notable shift in consumer preferences towards cosmeceutical products. This transformation can be attributed to several factors, including a growing awareness of the importance of skincare and the influence of social media, which has been instrumental in shaping beauty and self-care trends. Saudi Arabia’s market has seen an influx of cosmeceutical brands and formulations, harnessing cutting-edge ingredients to address a range of skin concerns, from anti-aging to skin hydration. As Saudi consumers increasingly prioritize skin health, the demand for cosmeceuticals is expected to continue its upward trajectory. The integration of these advanced skincare products into daily regimens underscores their significance in the Saudi beauty landscape and reinforces the industry’s dynamic growth within the region.

MENA Cosmeceuticals Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The MENA Cosmeceuticals market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the MENA Cosmeceuticals Market Analysis (2023-2030)

Analyzing the historical market, estimating the current market, and forecasting the future market of the MENA Cosmeceuticals market were the three major steps undertaken to create and analyze the adoption of MENA Cosmeceuticals in major countries. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the MENA Cosmeceuticals market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the MENA Cosmeceuticals market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the MENA Cosmeceuticals market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as Product type and distribution channel. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the MENA Cosmeceuticals market. Further, we conducted factor analysis using dependent and independent variables such as pet type, food type, and distribution channel of the MENA Cosmeceuticals market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the MENA Cosmeceuticals market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the MENA Cosmeceuticals market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the MENA Cosmeceuticals market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the MENA Cosmeceuticals market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Key Stakeholders of Cosmeceuticals Market in the MENA Region

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the MENA Cosmeceuticals market. The data was split into several segments & and sub-segments post studying various parameters and trends in the areas of product type and distribution channel of the MENA Cosmeceuticals market.

The main objective of the MENA Cosmeceuticals Market Study

The current & future market trends of the MENA Cosmeceuticals market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional and country level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the MENA Cosmeceuticals market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of product type and distribution channel
• Define and analysis of the regulatory framework for the MENA Cosmeceuticals industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Major countries of regions studied in the report include Saudi Arabia, UAE, Egypt, Turkey, and the Rest of MENA
• Company profiles of the MENA Cosmeceuticals market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

You can also purchase parts of this report. Do you want to check out a section wise
price list?

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