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Cosmeceuticals industry

The competition is high in a market with an overwhelming variety of personal care and cosmeceutical products to choose from.

Quality, safety, and efficacy are just some of the perimeters looked at by consumers, who ultimately are the main drivers of this industry.

Iran’s cosmeceutical and personal care products market is going strong, but it is not meeting domestic demands.

In 2016, Iran was ranked as the 7th largest consumer of cosmetics and beauty products in the world by Beauty Middle East and became the second largest consumer of cosmetics in the region after Saudi Arabia.

In 2018, the country imported some $475 million dollars’ worth of beauty products and cosmetics. The following year the government banned some 80% of imports in this field except for perfumes. This gave rise to large amounts of smuggling of cosmetics into the country.

Illicit imports cannot be regulated for product safety or quality which can have dangerous ramifications for consumers.

Meanwhile, the annual domestic consumption of cosmetics and toiletries has increased to around $4 billion dollars and the Ministry of Industry, Mining and Trade as well as the Ministry of Health have appealed to the government to reconsider its ban on imports.

There are some 500 small, mid-sized and large active production units across the country and the industry employs well over 50,000 people. Tune into Bazaar for more!

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