Middle East and Africa nutricosmetics market is forecasted to witness a CAGR of 7.93% during the forecast period (2020 - 2025).
- Growth within the African and the Middle East nutricosmetics market has mainly been fuelled by increased consumer awareness about well-being and preventative healthcare and growth within the senior population and an increasing number of ex-pat population residing in these regions.
- As these consumer groups are looking for those cosmetics, which have functional as well natural ingredients in their cosmetics products, moreover which are effective as well as less detrimental to the skin and overall health of the human being using or applying them.
Key Market Trends
Increasing Application of Nutrient Enriched Cosmetic Products
In order to stay relevant in the African and Middle East nutricosmetics market, the consumers are seeking products that align well their body therefore which offers multiple benefits to them. Therefore, brands such as Corium Naturals founded by Vuyisile Zondi from South Africa, which offers natural and handmade skin products using traditional African beauty ingredients such as shea butter and coconut oil, which are 100% natural and certified by Ecocert, and are also packed with vitamins A, E, and F, so as to provide extra benefit to the consumers. Dietary supplement usage among women is high among the women in UAE, which, in turn, increases the demand for nutricosmetic ingredients. An increase in demand for skincare products, along with anti-aging and skin whitening products, is the most active driver for nutricosmetic products in countries such as the United Arab Emirates and Saudi Arabia.
South Africa - An Emerging Country in the Global Nutricosmetics Market
The South African consumers are increasingly becoming aware of the harmful effects of the environment such as UV rays, and the resultant effects that they can have on the skin. Typical effects of overexposure to the elements includes wrinkles, sagging, a loss of elasticity, and a lack of radiance. Furthermore, many women are situated in urban areas and are therefore exposed to allergens, irritant molecules, and fine particles emitted by vehicles which are responsible for premature skin aging and certain pathologies such as atopic dermatitis and psoriasis. Therefore, in order to reduce such effects, the women population in South Africa is expected to apply more cosmetics products, which are enriched with naturals ingredients and minerals such as vitamins, keratin, and Omega-3 Fatty Acid, etc.
Some of the major players operating in the Middle East and Africa nutricosmetic market are Herbalife International of America, Inc., Beiersdorf AG, and Amway Corp. With the increasing consumption of the nutricosmetic expected during the forecast period, therefore many global companies are looking to expand their operations in the Middle East and Africa nutricosmetic market. For instance in December 2019, Wipro Limited signed a definitive agreement to acquire South Africa-based personal care and nutricosmetics company Canway Corp., which markets brands such as Oh So Heavenly, Iwori, and IQ. Therefore, with an increasing preference for natural and organic products, along with the demand for halal-certified products increasing in the region, this is likely to boost the competitive advantage of the companies operating in the market studied.
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