Market Size of Israel Cosmetics Products Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.67 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Israel Cosmetics Market Analysis
Over the next five years, the Israel Cosmetics Products Market is expected to register a CAGR of 4.67 %.
High disposable income in Middle Eastern countries is responsible for the increasing demand for cosmetic products and the high penetration of luxury brands (like Dior, Guerlain, Clarins, Clinique, Lancôme, Estee Lauder, Shiseido, etc.). These brands are now paving their way into developing markets, like Israel and other Middle Eastern countries, at a fast pace, due to rising disposable income and an inclination to spend more on appearance. The growing demand for anti-aging products and innovative and eco-friendly packaging designs is contributing to the market's growth in the country.
The market is expanding due to growing fashion trends, major product innovation in formulation, an aging population, and new formats for cosmetic products like hair color and other skincare items. Most older adults who color their hair also use numerous anti-aging lotions and other remedies. The demand for cosmetics in the nation is anticipated to increase as a result. For instance, according to the Israel Central Bureau of Statistics, in 2021, although the younger age groups were the biggest, the number of senior citizens was also relatively high, with over 1.1 million people older than 65 years. Apart from these factors, the increasing working population is also a major factor that is driving people's desire to look good and maintain an aesthetic sense.
Moreover, the significant rise in brand recognition and influence of cosmetic products through social platforms is further projected to propel market growth during the forecast period. The increasing awareness regarding natural ingredients-based cosmetics and their effects on the human body supports the inclination of consumers toward natural products and is expected to pave the way for natural products, thus contributing to market growth.
