Facts & Figures Augmenting the Growth of the Dead Sea Mud Cosmetics Market
Global Dead Sea Mud Cosmetic Products Market Overview
Dead Sea is a unique source of minerals which is naturally created under extraordinary climatic conditions. The exceptionally high concentration of natural minerals such as potassium, magnesium, silicon, sodium, calcium, strontium and iron in Dead Sea mud makes it effective in treating and preventing illnesses such as psoriasis, eczema and acne. Moreover, the high concentration of Dead Sea minerals is effective in improving skin diseases and its natural processes. On the other hand, the Dead Sea mud is collected from the heavily salty waters where there is no life possible in the sea. The high concentration of salt in the sea prevents fishes and aquatic plants from living in it.
The medicinal properties of Dead Sea mud and its effective action of treatment for various skin diseases on the back of presence of natural minerals is making it the most significant ingredient in cosmetics nowadays. The growing concern towards synthetic ingredients based cosmetic products and low consumption of chemical based cosmetics by the consumers on the back of awareness towards the harmful effects of chemicals is expected to boost the growth of Dead Sea mud cosmetics industry. Various cosmetic product manufacturers in Middle East region are looking forward to get into the market of Dead Sea mud cosmetics products. However, Israeli government licensed only one company named Ahava to mine the raw materials at the Dead Sea. This is directly impacting the competitors and new players which are looking to enter into the Dead Sea mud cosmetic market as they have to buy the Dead Sea mud from the single licensed company i.e. Ahava. Moreover, Ahava spent more than USD 20 Million for marketing and advertising in various regions such as Asia, Europe, North-America and Middle East in 2016. These aggressive strategies from various Dead Sea mud cosmetic product manufacturers further boosting the growth of this industry over the next five to six years.
Market Size and Forecast
The global Dead Sea mud based cosmetics market is predicted to flourish significantly at a CAGR of 14.2% over the forecast period i.e. 2016-2023. Moreover, the market for Dead Sea mud cosmetics accounted for USD 678 Million in 2015. The demand for mud packs for facial and body care is expected to boost the growth of Dead Sea mud based cosmetics market over the forecast period i.e. 2016-2023. CLICK TO DOWNLOAD FREE SAMPLE REPORT
North America accounted the highest market share of 38% in overall revenue of Dead Sea mud cosmetics across the globe in 2016. The wide scale availability of Dead Sea mud cosmetic products through various distribution channels is the major reason behind the positive growth of this industry in the North-America region. On the other hand, Middle East & Africa Dead Sea mud cosmetics market is expected to flourish in near future on the back of increasing number of Dead Sea mud cosmetic product companies in the region.
Our in-depth analysis segmented the global Dead Sea mud cosmetics market in the following segments:
By Product Type
Global Dead Sea mud cosmetics Market is further classified on the basis of region as follows:
Growth Drivers and challenges
The large scale availability of Dead Sea mud on the shore of salty lake in Israel is making it more convenient for the cosmetic product manufacturers to collect the raw material in large quantity. On the other hand, the treating and preventing quality of minerals present in Dead Sea mud is also increasing the demand from consumers’ end and increasing the sales for Dead Sea mud cosmetics. However, lack of cooperation and the small size of the companies in Dead Sea mud cosmetics sector are the major problems anticipated to hamper the growth of this industry in near future. Although, Jordanian based Dead Sea mud cosmetics companies are focusing towards the global market to increase the sales of Dead Sea mud cosmetic products across the globe.
In addition to this, consumers are increasingly looking for products with natural or organic ingredients which is strengthening the growth of Dead Sea Mud Cosmetics. Apart from this, factors such maintaining moisture levels in the skin, increasing blood flow to the capillaries and other treatment properties of Dead Sea mud are expected to spur the demand for Dead Sea mud cosmetic products over the next few years.
However, high cost of Dead Sea mud cosmetics and lack of availability in various developed and developing regions owing to presence of limited number of Dead Sea mud cosmetics manufacturers are the major reasons which are hindering the growth of Dead Sea mud cosmetics industry. Additionally, the growing concern towards ecology and continuously decreasing level of Dead Sea is expected to be a major barrier for the industry players in near future.
The key players of Dead Sea mud cosmetics market are as follows:
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