GCC Skin Care Market to Witness Fastest Growth through Online Sales Channel until 2023
Increasing
awareness about benefits of skin care products and rising inclination of
cosmopolitan male population towards skin care products to drive GCC skin care
market through 2023
According to TechSci Research
report, “GCC
Skin Care Market By
Product Type, By Type, By
Distribution Channel, By Country,
Competition Forecast & Opportunities, 2023”,
GCC skin care market is projected to surpass $ 1.7 billion by 2023. Anticipated
growth in the GCC skin care market can be primarily attributed to growing
demand for these products among young population and rising women participation
in workforce. Moreover, people are becoming more aware about various skin care
products and their benefits, which is contributing to the growing use of these
products. Additionally, over the last few years, an increasing number of men
have also been witnessed to follow proper skin care regimen due to which various
companies are introducing separate product ranges for men, which is further
anticipated to steer growth in GCC skin care market during the forecast period.
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"GCC Skin Care Market" https://www.techsciresearch.com/report/gcc-skin-care-market/3464.html
Saudi Arabia dominates GCC skin care market,
followed by the UAE, on account of comparatively large population bases and high
number of tourists in both of these countries. Among distribution channels, supermarket/hypermarket held majority share in GCC skin care market
in 2017 and this trend is likely to continue during forecast period as well due
to the convenience of having multiple brands available at a single location
along with lucrative discounts and offers. However, online sales channel is
anticipated to grow at the fastest CAGR during forecast period on the back of
associated convenience as customers can surf through various products and
compare them without any need to visit stores.
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Rising
investment in research and development activities by major players to develop
new skin care products that are hypoallergenic and have minimal impact on skin
is anticipated to push demand for such skin care products across the GCC region
in the coming years. Moreover, attractive marketing strategies adopted by companies
along with expanding product portfolios of leading skin care player is
further expected to steer growth in GCC skin care market over the next five
years.” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“GCC
Skin Care Market By Product Type, By Type, By Distribution Channel, By
Country, Competition Forecast
& Opportunities, 2023” has evaluated the future
growth potential of GCC skin care market and provides statistics and
information on market structure, size, share and future growth. The report is
intended to provide cutting-edge market intelligence and help decision makers
to take sound investment decision. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges and
opportunities present in GCC skin care market.
About TechSci Research
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