Market Overview and Growth Highlights during 2018-2027
Dead Sea is a rich source of naturally occurring minerals such as potassium, magnesium, silicon, sodium, calcium, strontium and iron. The presence of these minerals in the Dead Sea mud makes it highly effective in treating and preventing various skin conditions including psoriasis, eczema and acne among other disorders. The Dead Sea mud cosmetics market in Middle East and North Africa witnessed a market value of USD 329.44 million in 2018 and is projected to grow at a CAGR of 10.84% over the forecast period, i.e., 2020-2027. The market is anticipated to reach a value of USD 803.19 million by the end of 2027. The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in Middle East and North Africa (Israel, Jordan, Saudi Arabia, UAE, Qatar, Morocco, Rest of Middle East and North Africa).
Market Segmentation Synopsis
Based on product, the market is segmented into facial care, body care, hair care and others, out of which, the facial care segment held the largest market share in the Dead Sea mud cosmetics market. The demand for Dead Sea mud cosmetics for facial care is estimated to increase as a result of the sustainable approach provided by green and organic cosmetics. The growing signs of early ageing of skin including pigmentation, redness and wrinkles further raise the demand for facial care products that contain natural minerals. The products for face care might include face wash, creams, serums, cleansers, masks and several others. Hair care segment is estimated to grow at the highest CAGR of 11.27% during the forecast period. This can be attributed to the rising demand for organic products for personal grooming and growing consciousness among people about the risks associated with chemical based products. Major products for hair care include hair serum, mud shampoo, conditioner, hair mask and others.
Dead Sea mud cosmetics market in Middle East and North Africa is segmented on the basis of demography into men and women, out of which, the women segment held the largest share in the market in 2018 with a value of USD 255.55 million as compared to the share of USD 73.89 million for men in the same year. However, the men segment is anticipated to grow at the highest rate over the forecast period on account of growing awareness among the male population about the benefits of using cosmetics and skin care products.
By Price Range
On the basis of price range, the market is segmented into premium range, medium range and lower range, out of which, the premium range segment is estimated to hold the leading share in the market with a value of USD 373.6 million by the end of 2027. This can be attributed to the growing demand for high quality premium range cosmetics by people. However, the medium range segment is anticipated to grow at the highest CAGR of 11.07% during the forecast period on account of growing GDP in the Middle East and North Africa region which leads to an increase in the spending capabilities of individuals on cosmetics and personal care products. The rising disposable income levels of the population in this region is another factor estimated to contribute towards the growth of Dead Sea mud cosmetics market. CLICK TO DOWNLOAD SAMPLE REPORT
By Distribution Channel
The market is segmented on the basis of distribution channel into online and offline segments, out of which, the offline distribution channel held the largest market share in 2018 and is predicted to continue leading the market share in future. The online segment is estimated to observe significantly high growth and grow at a CAGR of 11.48% over the forecast period as a result of easy accessibility of Dead Sea mud cosmetics through online distribution portals. The increasing use of digital services and availability of a wide range of products online are some factors anticipated to further lead to the growth of online distribution of cosmetics.
Market Drivers and Challenges
Growing health awareness and benefits of organic cosmetic products along with the changing lifestyles of people is increasing the adoption of sustainable beauty products and cosmetics in the region. Additionally, the rising concern among consumers about the harmful effects of chemicals containing beauty products is another factor estimated to result in growing preference among people for natural products. Dead Sea mud rejuvenates, soothes and protects the skin from external pollutants. The products made from this mud contain several minerals including sodium, potassium, calcium, silicon and magnesium that help in curing a number of skin problems. This is a major growth factor anticipated to result in growth of Dead Sea mud cosmetics market in Middle East and North Africa. Furthermore, the growing urban population increases the consumption as well as spending capacity of consumers and the rising disposable income accounts for a high purchasing capability of people on personal care products. As a result of these, the market is estimated to expand at a significant rate.
Good quality Dead Sea mud cosmetics are highly expensive, which is a major factor predicted to impact the market growth negatively. The high cost of these products restricts the consumers from using them on a regular basis. Apart from this, the strict government regulations during the manufacturing and transportation of these products is a slow process which is further estimated to inhibit the growth of Dead Sea mud cosmetics market over the forecast period.
Some of the affluent industry leaders in the Middle East and North Africa Dead Sea mud cosmetics market are Aroma Dead Sea Spa and Cosmetics ltd, Aqua Dead Sea, KAWAR, Ahava, Premier Dead Sea, Daor Cosmetics Ltd., H&B Health & Beauty, Aqua Mineral, A. Meshi Cosmetic Industries Ltd. and Ein Gedi Cosmetics Ltd. Moreover, other key and niche players are working towards bringing improved and nutrient and minerals enriched Dead Sea mud cosmetics in the market along with investing in the development of high quality beauty and personal care products in order to gain competitive edge in the Middle East and North Africa Dead Sea mud cosmetics market.
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