SAN FRANCISCO, June 20, 2018 /PRNewswire/ --
The global morocco cosmetics market size is expected to reach USD 1.93 billion by 2025, according to a new report by Grand View Research, Inc., registering a CAGR of 7.5% during the forecast period. The growth can be attributed to surging demand for premium cosmetic products, majorly driven by increasing purchasing power of consumers.
Rising consumption of cosmetic products by women owing to increasing westernization in the country is estimated to be a key factor driving the market. Growing demand for personal care and grooming products from male consumers is also anticipated to bolster the growth of the market over the forecast period. E-commerce platforms are projected to play a significant role in supporting the growth of the Morocco cosmetics market owing to high convenience they offer to consumers.
The industry is registering an increase in the number of male consumers. Changing climatic conditions and lifestyles are prompting men to use cosmetic products in their daily routines. Fragrances, skin care, and hair care products are increasingly being used by both men as well as women.
Morocco has consistently outperformed other African countries in terms of its ranking in various global retail indexes. The relatively stable political atmosphere in the country and widening base of middle class population are providing a significant push to the market.
The country has made considerable strides in recent years related to investments in infrastructure. One such example is of investments made to improve infrastructure in the Tangier free trade zone. Such developments in the country are attracting investors from across the globe.
Browse full research report with TOC on "Morocco Cosmetics Market Size, Share & Trends Analysis Report By Product (Skin & Sun Care, Makeup & Color Cosmetics, Hair Care, Fragrances), By Sales Channel (Retail, Online), By Gender, And Segment Forecasts, 2018 - 2025" at: https://www.grandviewresearch.com/industry-analysis/morocco-cosmetics-market
Further Key Findings From the Report Suggest:
- The makeup & color cosmetics segment is likely to exhibit the highest CAGR of 8.1% during the forecast period
- Morocco has a significant competitive edge in the production and export of argan oil
- A major chunk of the demand for cosmetic products in Morocco is generated by people with a higher income and modern lifestyles, staying in large cities
- New product launches and establishment of strategic partnerships with luxury salons are expected to remain a critical success factor for the hair care market over the forecast period.
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Grand View Research has segmented the Morocco cosmetics market on the basis of product, sales channel, and gender:
- Morocco Cosmetics Product Outlook (Revenue, USD Million, 2014 - 2025)
- Skin & sun care products
- Haircare products
- Makeup & color cosmetic products
- Morocco Cosmetics Sales Channel Outlook (Revenue, USD Million, 2014 - 2025)
- Morocco Cosmetics Gender Outlook (Revenue, USD Million, 2014 - 2025)
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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