Iran cosmetics Market
Iran Cosmetics Market Opportunities
Iran is among the top 10 countries with the highest makeup and cosmetic usage in the world, and the second in the MENA region.
The demographic structure of the Iranian population – with a vast majority of people below 40 – guarantees a steady & fast growth of the sector. The end of 35 years of economic isolation is also expected to impulse a new consumption dynamic in the population.
Iran age pyramid 2014
The Persian culture – more than any other in the region – emphasize on aesthetics, art, fashion, design and poetry. Cosmetics have a millennial history in the country and the tradition is perpetuated until today:
•Cosmetics purchases in 2014 = about $3.3 billion
•7th market in the world
•Iran = 30% of the MENA cosmetics Market
•2nd market in the region
With the income growth, more & more customers are shifting their consumption habits towards high-quality products and prestigious brands.
Domestic brands are well established, but rather focus on low/mid-range prices products. After the sanctions relief, the market is ready for change and the demand for new products and experiences is high.
Iran is the last market in the region that isn’t yet dominated by multinational companies. The current business environment, shaped by the new dynamics of consumption & booming economy presents a wide array of opportunities for foreign investors.
•Essence & primary materials
•Machinery for the product processing
•Machinery for filling & packing
High potential products