Market research experts show a pivotal analysis of cosmetic products in Qatar as the industry is expected to increase at a compound annual growth rate (CAGR) by 5.2 percent in the coming years. The report by Mordor Intelligence, one of the leading fact-finding groups on market trends reveals that by 2027, this significant surge will be adding reinforcement to the country’s economy.
Until this year, there was a fluctuation in sales of the products due to the pandemic and curbs enforced due to COVID-19. Howbeit, the sales have inclined gradually as several tourists arrived for the FIFA World Cup 2022 in Qatar.
The report states that “The market is majorly driven by the young working population of the country, among whom the consciousness of physical appearance is more and who is willing to investing in grooming.” The growing trend of natural ingredients in beautifying products is also remarked on by several manufacturers in the country. This eventuates in the highest ever-increasing sales for natural organic products in the market.
In order to offer guarantee product safety, they are labeled and manufactured according to the regulations of the governing bodies in the region adding that “consumer demand for enhanced functionality and eco-friendliness in cosmetic design is resulting in exciting innovations in the packaging and design of cosmetics products.”
According to the report, the number of working-class women in Qatar rose momentously over the past years, and concerns regarding physical appearance have become the “key growth driver” for the sector. This paves way for the sales to positively make an impact on the market and prosper steadily.
With the wellness trends and larger amounts of natural ingredients produced, the organic cosmetic industry is showing vital progress in the country. It said: “Factors, such as consumer knowledge and increase in awareness of products about the benefits of organics products and services, through digital media and other sources, coupled with the advent of social media are adding to the growth in the region.”
“Therefore, the growing e-commerce industry and increasing penetration of social media is further propelling the growth of the facial make-up products market,” it added.
