Saudi Arabia Personal Care Ingredients Market to Grow with a CAGR of 4.52% through 2028
Growth in research and development activities is expected
to drive the Saudi Arabia Personal Care Ingredients Market growth in the
forecast period, 2024-2028.
According to TechSci Research report, “Saudi Arabia
Personal Care Ingredients Market – By Region, Competition, Forecast and
Opportunities, 2018-2028F”, the Saudi Arabia Personal Care Ingredients
Market stood at USD228.61 million in 2022 and is anticipated to grow with a
CAGR of 4.52% in the forecast period, 2023-2028. The initiatives taken by
government based on personal care ingredients has led to favorable market
conditions for the Saudi Arabia Personal Care Ingredients Market. Several
factors contribute to the growth of various personal care ingredients market products.
Saudi Arabia places great emphasis on adhering to
rigorous standards set by the Saudi Standards, Metrology and Quality Organization
(SASO) as well as international bodies. These comprehensive standards are
designed to guarantee the safety, effectiveness, and quality of a wide range of
products, including personal care items. Additionally, the Saudi Food and Drug
Authority (SFDA) plays a pivotal role in ensuring the safety of drugs,
biological and chemical substances, and cosmetics.
In line with global trends towards sustainability and
eco-consciousness, the Saudi Arabian government is actively driving growth in
the personal care market. Through various initiatives, they are promoting the
development and use of sustainable and environmentally friendly 'clean' beauty
products. This commitment to cleaner and greener alternatives not only aligns
with global consumer preferences but also positions Saudi Arabia as a leader in
the pursuit of a more sustainable and eco-friendly future.
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Research and development activities play a pivotal
role in the personal care ingredients industry. By fostering innovation and
enabling companies to develop new products, R&D efforts cater to the
ever-changing demands of consumers. In Saudi Arabia, the personal care
ingredients market is experiencing a significant surge in research and
development activities, which not only drive growth but also contribute to the
overall advancement of the industry. These R&D endeavors facilitate the
exploration of novel formulations, the discovery of cutting-edge ingredients,
and the enhancement of product efficacy and safety. As a result, the personal
care industry in Saudi Arabia is poised for remarkable growth, attracting
investments and propelling advancements that benefit both businesses and
consumers alike.
The Saudi Arabia Personal Care Ingredients Market is
segmented in type, application, regional distribution, and company.
Based on its type, the emollients segment held the
largest share in the market. Emollients are gaining increasing popularity in
the beauty industry, driven by the growing clean beauty trend. This trend
emphasizes the use of natural and environmentally-friendly products, and many
emollients, including nourishing plant oils and rich butters, perfectly align
with these principles. As consumers become more conscious of the ingredients
they apply to their skin, the demand for emollients continues to rise, making
them an essential component in the formulation of clean, sustainable skincare
products.
Based on region, Northern & Central segment is
expected to grow during the forecast period.
In addition to the importance of distribution networks
and accessibility, the availability of personal care products in these regions
is further enhanced by their well-established retail sectors. With a wide range
of retail outlets, including supermarkets, pharmacies, and beauty stores,
consumers have convenient access to personal care products. Furthermore, the
growing influence of the internet and social media platforms has revolutionized
the way consumers discover, access, and purchase these products. Online
shopping platforms and social media advertisements provide a seamless
experience, allowing consumers to explore a vast array of personal care
products and make informed choices.
Major companies operating in Saudi Arabia Personal
Care Ingredients Market are:
- H & R Chemicals Ltd.
- Majid Al Futtaim Holding LLC
- Saudi Arabian Marketing Company
- Saudi Arabian Oil Company
- Unilever PLC
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“Growing application of personal care ingredients in
various end user industries are key drivers of the personal care ingredients market.
Growth in competitive landscape and presence of well-established companies in
the market who are dedicated to enhance their productivity of personal care
ingredients with every passing year are anticipated to register an impressive
growth to Saudi Arabia Personal Care Ingredients Market in the forecast period.,”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Saudi Arabia Personal Care Ingredients Market By Type (Surfactants,
Conditioning Polymers, Rheology Control Agents, Emollients, Emulsifiers, Others),
By Application (Toiletries, Skin Care, Hair Care, Others), By Region, By Competition Forecast &
Opportunities, 2018-2028F”, has evaluated the future growth potential of Saudi
Arabia Personal Care Ingredients Market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Saudi Arabia Personal Care Ingredients Market.
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