Middle East And Africa Cosmetic Bioactive Ingredients Market 2022-2028
MARKET OUTLOOK
Triton Market Research’s report insinuates that the Middle East and Africa cosmetic bioactive ingredients market is expected to advance at a compound annual growth rate of 4.96% during the forecast years 2022-2028. The UAE, Saudi Arabia, South Africa, Turkey, and Rest of Middle East & Africa are studied in the region.
Saudi Arabia’s cosmetic industry has grown substantially over the past few years. The nation has one of the highest skincare consumption rates globally. This growth is mainly owing to rising consciousness about appearance and the growing influence of western culture. Additionally, the growth in the workforce has elevated the demand for various personal care products containing bioactive ingredients. The growing purchasing power due to the economic boost has also increased the demand for cosmetic products considered out of reach earlier. Therefore, these factors fuel the cosmetic bioactive ingredients market’s growth across Saudi Arabia.
Furthermore, cosmetics have gained significant traction among the Turkish population, with natural and minimal makeup trends taking center stage. In recent years, the consciousness about appearance has elevated the demand for various beauty products and practices among the nation’s population. Rosewater cleanser and hazelnut oil have gained popularity. Hence, such trends are expected to create opportunities for the cosmetic bioactive ingredients market.
COMPETITIVE OUTLOOK
The key companies in the cosmetic bioactive ingredients market include BASF SE, Evonik, Clariant, Dow Chemical Company, and Lubrizol.
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