TechSci Research estimates the men’s grooming products market to grow beyond USD 84 Million revenues by the end of 2018.
Vancouver, British Columbia (PRWEB) May 25, 2013
The market for men’s grooming products in UAE has been performing exceptionally well. The main reasons for growth include a large base of expatriates forming part of the young service class having high disposable incomes, increasing consciousness among men, particularly from the workplace. Men in the UAE are not as stringent about using cosmetics and grooming products when compared to the men in other gulf counterparts.
According to a recently published report by TechSci Research “UAE Men’s Grooming Products Market Forecast & Opportunities, 2018”, the men’s grooming products market in UAE is the largest and the fastest growing market when compared with other GCC countries. Given the rising consumer expenditure and growing demand for men’s grooming products; the grooming products market holds huge potential in the UAE. TechSci Research estimates the men’s grooming products market to grow beyond USD 84 Million revenues by the end of 2018.
The men’s grooming products market of the UAE is made up of several multinationals, with most of them operating through regional offices. The market is growing at a slower rate compared to the global average as a large part of the market is still untapped. However, the market is witnessing a rise in the service sector of the grooming market as majority of the men in the country prefers spa treatments and salons over using the products by themselves.
The market is also experiencing trends such as societal and workplace status influencing the demand, introduction of Halal certified products in the market and increasing consumer’s expenditure. Factors such as increasing population, rising household incomes, improved demand for grooming services are constantly contributing to the increasing demand of grooming products and men’s cosmetics in the country. UAE mostly imports all of its cosmetics and grooming products and re-exports some proportion of the same to the neighboring countries.
“The consumer demographics of the UAE are considered as one of the major driving factors for this industry, which suggests that more men are now aware and conscious of their image and the importance of grooming, particularly as a social status symbol,” said Mr. Karan Chechi, Research Director with TechSci Research a global management consulting firm.
The market for men’s grooming products can be further classified into segments such as men’s shaving products, fragrances, skincare products, other grooming products such as hair care and other toiletries. At present, men’s shaving products market dominates the industry in terms of revenues. But, men’s skincare products and hair care products are set to experience the highest growth over the next five years, amongst the various sub markets.
“UAE Men’s Grooming Products Market Forecast & Opportunities, 2018” has analyzed the growth potential of men’s grooming products in UAE and provides statistics and information on market structure, consumer behavior trends, etc. The report includes men’s grooming product’s market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities available in men’s grooming products market in UAE.