Rising Disposable Income to Fuel Growth in Middle East & Africa Lipstick Market through 2023
Rising
disposable income in Middle Eastern countries along with increasing
availability of lipstick to aid growth of Middle
East & Africa lipstick market through 2023
According to a report
released by TechSci Research, ‘Middle
East & Africa Lipstick Market By
Product Type, By Distribution Channel,
By Country, Competition, Forecast
& Opportunities, 2023’,
Middle East and Africa lipstick market is forecast to cross $ 440 million by 2023
on account of rising disposable income across different countries of the
region, which is resulting in higher consumer focus towards lifestyle and
luxury products. Moreover, rising working women population is further
augmenting demand for lipsticks across the region. Middle East and Africa is
anticipated to be the fastest growing region in beauty and personal care
products over the next five years. However, lipstick market is underdeveloped
in the region due to low per capita income across several countries with a
large portion of the people living under USD2 per day (by PPP). In 2017, lipstick
market in Saudi Arabia and the UAE, together account for a quarter of Middle
East and Africa lipstick market.
Browse 30 Figures spread through 59 Pages
and an in-depth TOC on "Middle East & Africa Lipstick Market"
https://www.techsciresearch.com/report/middle-east-and-africa-lipstick-market/3740.html
Companies operating in Middle East and Africa
lipstick market are now making their way into developing markets of the region like
Nigeria, Kenya, etc. Among
distributions channels, supermarkets / hypermarkets account for the largest share in Middle East and Africa lipstick market
as this sales channel provides the convenience of availability of multiple
brands at a single location besides offering lucrative discounts on products. However,
distribution of luxury products is pervasive through exclusive stores in malls
or standalone, while e-commerce is emerging as a competitor to direct sales for
all mass and premium brands in the MEA region.
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“Growing urbanization
and changing lifestyle patterns is boosting usage of beauty products across MEA
region. Moreover, branded lipsticks have become an affordable product in Middle
East and Africa over the last few years. Additionally, increasing
availability of lipsticks coupled with continuous product innovations are other
major factors which are anticipated to fuel growth in Middle East and Africa lipstick
market during forecast period.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Middle
East & Africa Lipstick Market By
Product Type, By Distribution Channel,
By Country, Competition, Forecast
& Opportunities, 2023”
has evaluated the future growth potential of lipstick 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 Middle East and Africa lipstick market.
About TechSci Research
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