Cosmetic skin care products are all the rage in the Middle East. The region is constantly attracting leading players in the market and the Gulf is quickly becoming a hub for all things beautiful. That’s why I always aspire to bring in the latest products, since topnotch quality is what we all seek in the GCC, right? At Medica Group, we make sure to get our hands on the most premium products out there. As a microcosm of the market, we first categorize products by use. Basically, the cosmetic skin care market is segmented into anti-aging, skin whitening, sensitive skin, anti-acne, dry care, bath and shower, intimate hygiene, and other miscellaneous products. I’d like to share with you a brief overview of the MENA skin care market based on these product types.
As you may know, cosmetic skin care products are usually applied to the skin in order to avoid visible symptoms of aging, discoloration, acne, and various other skin-related disorders. I’ve found that for that reason, anti-aging and skin whitening were the most lucrative market segments in 2015, and I guarantee that the trend is likely to continue during the forecast period.
As we break down the market, you’ll find that the anti-aging segment made up 25.2% of the total MENA cosmetic skin care market in 2015, the sensitive skin segment contributed 11.7% and the skin whitening segment accounted for 16.7%. In addition, the anti-acne segment contributed 13.2%, the bath and shower segment held 8.6%, the dry skin segment accounted for a share of 5.3%, and the intimate hygiene segment contributed 9.0%.
It is obvious that the anti-aging segment dominated the MENA cosmetic skin care market in 2015. Other than that, cosmetic products for skin whitening, male grooming, and facial care also recorded significant growth. The bath and shower segment is expected to grow rapidly, expanding at a CAGR of 7.6% during the forecast period. Likewise, the skin whitening segment is expected to thrive. The anti-aging segment is expected to gain an extra 1.4% of the market share, accounting for 26.6% by 2024.
As a result, major cosmetic skin care manufacturers are focusing on producing face and body skin whitening products to meet growing consumer needs. And I think that these diversified applications and growing demands will most definitely be projected to boost market growth. Also, this just paves the way for the beauty experts, right here in the MENA region, to finally boom.
Wait for my article next week for another overview of even more product segments.