The UAE is an exceptionally attractive market for cosmetics companies according to Kuick
Demand for halal products is boosting the cosmetics market in the Middle East, especially Saudi Arabia and the UAE, according to Indian market research firm Kuick Research in its new report, UAE Halal Cosmetics Market Opportunity Analysis.
The UAE is an exceptionally attractive market for cosmetics companies, according to the company, as it is one of the largest beauty markets in the world and is endorsed by affluent clientele.
“The demographic variety of consumers that are spread within the UAE translates into a diverse market that allows companies to offer a variety of product across a varied price spectrum,” said Kuick. “While the market for luxury products has a large clientele, there is also a strong market for regular, value-for-money product lines. Although the cosmetics market is dominated by women’s products, spending by men is also on the rise.”
The demand for halal cosmetics in the UAE, said Kuick, has led to change in the business strategy of both local and international players. With increasing consumer awareness, the cosmetics and personal care industry could be transformed into a “potential sunrise segment” for the region. Despite this, Kuick added that there are constraints on the supply side, due to the dearth of halal certified brands in the country. As yet, no multinational beauty player offers halal friendly products.