The global Morocco cosmetics market is projected to be worth $1.9 billion by 2025, according to a new report by Grand View Research. It is projected to register a CAGR of 7.5% during the forecast period.
Growth is being attributed to a surging demand for premium cosmetic products, driven by an increase in the purchasing power of consumers.
The westernization of the country, which is causing more cosmetic use among women, is also a key market driver -- as well as an increasing demand from a growing number of male consumers who are using more cosmetic products.
E-commerce platforms offer convenience, and are projected to play a significant role in supporting market growth. 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 country has made considerable strides in recent years related to investments in infrastructure, and such developments in the country are attracting investors from across the globe.