Cosmetics Market:
Growth opportunities in the Cosmetics Market look promising over the next six years. This is mainly due to the strong demand for natural ingredients in cosmetics products and the rising number of influencers and bloggers dedicated to skincare.
Cosmetics Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The accelerating disposable income, altering individual lifestyle, along with the robust demand for organic ingredients in beauty products accounts to be some of the prominent drivers responsible for the growth of the global cosmetics market. Also, the augmenting accessibility and the rising prominence of natural products led by the surging consciousness about the advantages imparted by these products have strengthened the market size. Moreover, the growing number of beauty blogs, social media influencers, and accounts to promote skincare products further shift individuals towards natural products, thereby stimulating the cosmetic industry.
Additionally, the employment of synthetic chemicals in the production of skincare items resulted in dangerous results such as life-threatening disease cancer, growing incidences of allergies, etc. This encouraged individuals to opt for environment-friendly organic products as they reduce aging and other skin-related problems. However, the increasing inclination towards progressive beauty treatments led by the enhanced lifestyle and high disposable income will hamper the cosmetic market share.
Furthermore, the widespread outbreak of the coronavirus pandemic had a positive influence on the market demand. This is because major brands are increasingly emphasizing digitalization by enlarging their websites, creating pages on different social media platforms and market paces to sustain the social distancing norm and stabilize their sales. Additionally, the remarkable tendency to do it yourself (DIY) among the consumers is supplementing the market growth. The consumers are forgoing the services offered by salons and beauty shops to evade physical contact, persuading them to choose these products and perform beauty care processes at their homes.
Regional Drivers
Based on the regional coverage, Asia-Pacific is expected to lead the market over the forecast period. This is primarily attributed to the mounting disposable income and increasing social media influence on individuals. On the other hand, North America is projected to expand at a faster CAGR during the forecast period due to the prevalence of many leading market players with the escalating focus of individuals towards innovative beauty solutions.
Cosmetics Market’s leading Manufacturers:
- SkinFood
- The Estee Lauder Companies Inc.
- Revlon Inc.
- Unilever Group
- New Avon Company
- Shiseido Company, Ltd.
- Kao Corporation
- OriflameCosmetics S.A.
- The Procter & Gamble Company
- L’Oréal S.A.
Cosmetics Market Segmentation:
Segmentation by Category
- Skin and Sun care products
- Hair care products
- Deodorants
- Makeup and Color cosmetics
- Fragrances
- Others
Segmentation by Distribution Channel
- Retail Sales Channel
- General departmental store
- Supermarkets
- Drug stores
- Brand outlets
- Others
- Online Sales Channel
Segmentation by Gender
- Men
- Women
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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