Global Morocco Cosmetics Market was valued at US$ 1.25 Bn in 2019 and is expected to reach US$ 2.3 Bn by 2027, at a CAGR of 7.92% during a forecast period 2020-2027.
An Increasing consumption of body sunscreen, lotions, and anti-aging creams among consumers, is mainly driving the morocco cosmetics market over forecast period.
The growth in popularity of e-commerce websites among consumers, rising popularity for the natural products, changing lifestyle of consumers coupled with increasing disposable income of consumers across the globe is also expected to surge the global morocco cosmetics market growth in the near future.The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.Growing investment in research and development of new products by manufacturers such as Unilever PLC, Avon Products, Inc, and Procter and Gamble Company is expected to create lucrative opportunities for market over forecast period.By end-user, the women segment is expected to hold 62% market share in the morocco cosmetics market during the forecast period owing to the growing consumption of cosmetic products by women consumers across the globe.
Men segment is expected to hold 38% market share over forecast period as rising demand for grooming and personal care products from male consumers.By Distribution channel, the online segment is expected to hold the largest share in the morocco cosmetics market as a growing trend of online shopping among consumers across the globe.By product type, skin & sun care segment is expected to hold the largest market share in the morocco cosmetics market during the forecast period owing to rising demand for the skincare and sun care products such as face creams, body lotions, moisturizers, and sun protection creams among consumers across the globe.
Major players covered in this report are Unilever PLC, Avon Products, Inc., The Procter and Gamble Company, Oriflame Holding AG, Dabur International, Erkul Cosmetics, Botanica Natural Products, Groupe Clarins, The Estee Lauder Companies, Inc., Kao Corporation, Shiseido Company, Limited and L'Oral International.
These players are adopting various inorganic and organic growth strategies such expansion, merger and acquisition, Joint ventures, strategic alliances, new product launches and patent to increase their business operations and regional presence.Among all of these L'oréal Maroc is leader in Morocco Cosmetics Market.