The United Arab Emirates (UAE), is one of the richest nations in the world, holding a large consumer base that is willing to spend on premium and luxury products including cosmetics. The UAE cosmetics market is experiencing robust growth and is projected to reach USD 2.01 billion by 2030 from USD 1.31 billion in 2022. The country's diverse and cosmopolitan population, as well as its strong tourism industry, have helped to create a thriving market for cosmetics.
Also, the high level of disposable income in the UAE is one of the major factors driving market growth for cosmetics. In addition, a variety of foreign beauty products are in high demand due to the sizeable expat population in the nation. The market is expected to register a strong CAGR of 6.31% for the forecast period between 2023 and 2030 due to the growing number of customers, particularly women, who are becoming more mindful of their appearance and choosing chemical-free cosmetics. Cosmetic brands are focusing on the production of their products using natural formulations.
For example, Hourglass is the luxury cosmetics brand which became 100% natural and cruelty-free that uses vegan-friendly formulas and comes in impressive packaging. The brand has marked a significance presence in the list of organic cosmetics products in the country.
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Cosmopolitan Culture and Rising Tourism Creates High demand for Cosmetics Products
Grooming and personal care industry is highly dependent on the regional culture in the Middle East countries including UAE. Cities in UAE such as Dubai have a high cosmopolitan culture in comparison to other Middle East countries. Moreover, increased tourism and modern population make it a unique market for cosmetic products that focusses on striking the right balance between the grooming and heritage culture. Higher purchase of Dubai based make up products and fragrances through duty free channels by tourists from various countries makes the cosmetics market highly prominent in the country. In 2022, perfumes recorded 18% of the total duty-free sales ($1.73 billion) in Dubai.
High-Quality Retail Infrastructure Fuel the Market Expansion
The rise of the cosmetics market in the UAE has been significantly aided by high-quality retail infrastructure. Department shops, premium boutiques, and contemporary, well-equipped shopping complexes provide a flawless shopping experience to the customers. The market is expanding because of the accessibility of several worldwide brands and the rising number of beauty outlets. Due to the ease and accessibility of high-end beauty goods on the local market, customers in the UAE are prepared to pay a premium for them. The expansion of the cosmetics market has also been significantly aided by the availability of highly qualified beauty consultants and specialists in retail establishments. Consumers get personalized guidance and suggestions, which aid in their decision-making while selecting cosmetics.
Government Regulations
The UAE government has stringent regulations and policies for the cosmetic market and holds zero tolerance for fake counterfeit beauty and personal care products. To control the practice, the government takes appropriate actions against the importers of forged products. Additionally, custom duty officials have a significant role in monitoring the export and import of goods. For example, During the span of two years 2020-2022, more than 134,000 fake items worth USD 272,000 including cosmetics were seized by the Dubai Customs Authority. The government authorities also conducted awareness campaigns for the public telling them about the disadvantages of using such products.
Nail Care Products Sales likely to Grow Rapidly
Since the face and hands are the only visible areas according to the code of Ethics under the Islamic Law, more women are turning up towards well-manicured hands. Innovations in nail care technologies such as gel overlays, extensions, ombre colour filling and so are a few factors behind the emergence of nail care cosmetics as a significant market. Increasing women workforce in UAE aviation sector are one of the important end users for nail care products. 42% of the aviation workforce in UAE are women. Manufacturers are also focusing on supplements and nail food that help enhance the overall health of nails.
Online Segment Grows at a Faster Pace
Better internet connectivity, increased smartphone subscriptions coupled with easy and convenient shopping experience has led to an increase in the sales of personal care products through online channel. The extreme hot and humid climate conditions in the Middle east also adds to the factor that more consumers are willing to opt for online purchase. More than half of the UAE shoppers prefers online shopping in comparison to retail. Internet usage rate is second highest in UAE with 99% residents are likely to spend more than 8 hours on internet in a day.
Impact of COVID-19 on the United Arab Emirates Cosmetics Market
The pandemic has caused supply chain disruptions which led to shortage of raw material and rise in prices. Moreover, there has been a decrease in demand for cosmetic items as individuals spend more time at home and less time in public settings. Furthermore, due to job losses or lower income, individuals were experiencing financial difficulties, which has resulted in a decline in discretionary spending on luxuries like cosmetics. Online sales channels became more popular since physical stores have closed their operations.
Report Scope
“United Arab Emirates Cosmetics Market Assessment, Opportunities, and Forecast, 2016-2030F”, is a comprehensive report by Markets and Data, providing in-depth analysis and assessment of the current scenario of the cosmetics market in UAE, industry dynamics and challenges. The report includes market size, segmental shares, growth trends, COVID-19 impact, opportunities, and forecasts (2023-2030). Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.
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The slow return of these tourists negatively impacted growth in 2021, although sales expected to get close to 2019 levels by 2022.
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