Middle East Foundation Market: Current Analysis and Forecast (2023-2030)

Report Description

The Middle East Foundation market was valued at USD xx Million in 2022 and is expected to grow at a strong CAGR of around 7.0% during the forecast period (2023-2030). Foundations refer to supplements that include a combination of vitamins, minerals, essential fatty acids, amino acids, and antioxidants, among others. They are called foundation supplements because they form the basic building blocks for overall well-being and are essential for supporting vital bodily processes such as metabolism, immunity, hormone balance, and cellular function. Foundation supplements are often recommended as a starting point for a well-rounded supplement regimen and are typically used to address nutrient deficiencies and support general health and wellness.

There are several factors driving the growth of the foundation industry in the Middle East region. One of the key factors is the increasing demand for beauty and personal care products. As people become more conscious about their appearance and beauty, the demand for cosmetic ingredients is expected to grow. This includes ingredients for skincare, haircare, and makeup products. Adding to this, increasing focus on natural and organic ingredients is also anticipated to contribute towards the growth of the foundation market. There is a growing demand for natural and organic cosmetic products due to a rising preference for chemical-free, sustainable, and environmentally friendly options. Consumers are increasingly seeking ingredients derived from natural sources like plant extracts, essential oils, and herbal extracts. This trend has led to the development and commercialization of natural and organic cosmetic ingredients, driving market growth.

Some of the major players operating in the market are Ajinomoto Co., Inc., BASF SE, Croda International Plc, Dow, Innospec, Merck KGaA, SEPPIC, Silverline Chemicals, Solvay, and Symrise. 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

“Amongst product type, the emulsifier segment to grow with high CAGR during the forecast period”

The emulsifier segment is anticipated to grow at the highest CAGR during the forecast period. Emulsifier foundations are a combination of oil and water-based ingredients. They are designed to provide hydration without making the skin too oily or greasy. These foundations usually have a lightweight texture and can be used on various skin types. They offer a natural or satin finish and provide medium coverage.

“Amongst application, the cosmetic category to hold a dominant share of the market in 2022”

The cosmetic segment led the Middle East foundation market with the highest market share in 2022. This segment includes foundation products that are primarily used for makeup purposes. Foundations in the cosmetics industry are available in different forms, such as liquid, cream, powder, and sticks. They are designed to match a wide range of skin tones and are used to provide coverage, hide blemishes or uneven skin tones, and create a smooth canvas for other makeup products.

Middle East Foundation Market Report Coverage

“Saudi Arabia to to hold a dominant share of the market in 2022”

Saudi Arabia led the market in 2022. As cosmetic foundation industry in Saudi Arabia is the changing cultural landscape and the increasing acceptance of cosmetics among the local population. In the past, cosmetic use among Saudi women was limited, primarily due to religious and cultural reasons. However, there has been a considerable shift in attitudes towards cosmetics in recent years, with more Saudi women embracing makeup as a means of self-expression and beauty enhancement.

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 Middle East Foundation 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 Middle East Foundation Market Analysis (2023-2030)

Analyzing the historical market, estimating the current market, and forecasting the future market of the Middle East Foundation market were the three major steps undertaken to create and analyze the adoption of the Middle East Foundation 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 Middle East Foundation 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 Middle East Foundation 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 Middle East Foundation 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 product type, application, 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 Middle East Foundation market. Further, we conducted factor analysis using dependent and independent variables such product type, application, and distribution channel of the Middle East Foundation 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 Middle East Foundation 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 Middle East Foundation 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 Middle East Foundation market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the Middle East Foundation 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 Foundation Market in the Middle East 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 Middle East Foundation market. The data was split into several segments & sub-segments post studying various parameters and trends in the areas of the product type, application, and distribution channel of the Middle East Foundation market.

The main objective of the Middle East Foundation Market Study

The current & future market trends of the Middle East Foundation 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 Middle East Foundation 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 the product type, application, and distribution channel
• Define and analysis of the regulatory framework for the Middle East Foundation industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the Middle East Foundation market for the major region
• Major countries of regions studied in the report include Saudi Arabia, UAE, Egypt, Iran, and the Rest of Middle East
• Company profiles of the Middle East Foundation 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

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