Saturday, June 25th, 2022

Saudi Arabia Color Cosmetics Market To Generate $1,197.2 Million Revenue by 2030

Factors such as the escalating disposable income of people, surging public awareness about physical appearance, booming population of working women, burgeoning demand for organic color cosmetics, and mounting investments being made by players in marketing and advertising initiatives are expected to drive the Saudi Arabian color cosmetics market at a CAGR of 7.1% during 2020–2030. The market was valued at $603.6 million in 2020 and it is projected to generate $1,197.2 million revenue by 2030.

The booming population of working females is one of the key factors propelling the demand for color cosmetics in Saudi Arabia. According to the General Authority for Statistics, Labor Force Survey data, the labor force participation rate of the total female working population increased from 32.1% in the fourth quarter of 2020 to 33.6% in the first quarter of 2021. As more women are stepping out of their homes, they are becoming more aware of personal care products, owing to which they are generating extensive demand for improved color cosmetic products.

Access Report Summary – Saudi Arabia Color Cosmetics Market Segmentation Analysis Report

In recent years, the surging focus of key players on product development, on account of the growing public consciousness regarding physical outlook, has become a prominent trend in the Saudi Arabian color cosmetics market. Additionally, the improving lifestyle of the Saudi Arabian people in the country is also encouraging them to create an extensive demand for better color cosmetics. Furthermore, the rising number of working women will also result in the introduction of improved products in the country.

The product segment of the Saudi Arabian color cosmetics market is classified into facial make-up, eye make-up, special effect products, hair color products, nail products, lip products, and others. Among these, the facial make-up category is projected to display the fastest growth throughout the forecast period, owing to the soaring demand for different shades of blushes, bronzers, and foundations that incorporate light-capturing crystals. Additionally, the expanding female workforce is also a key contributor to the market growth in this category.

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