Key companies covered in the cosmetics market are L’Oréal S.A. (France), Unilever plc. (U.K.), Procter & Gamble Co. (U.S.), The Estée Lauder Companies Inc. (U.S.), Beiersdorf AG (Germany), Shiseido Co., Ltd. (Japan), Coty Inc. (U.S.), Natura & Co. (Brazil), Kao Corporation (Japan), Johnson & Johnson Services, Inc. (U.S.), and more players profiled.
Cosmetic Market
Cosmetic Market
Pune, India, Aug. 28, 2023 (GLOBE NEWSWIRE) -- The global cosmetics market size was valued at USD 299.77 billion in 2022 and is expected to be worth USD 313.22 billion in 2023. The market is projected to be valued at USD 417.24 billion by 2030, recording a CAGR of 4.2% during the forecast period.
The global cosmetics market share is expected to grow substantially in the coming years as an increasing percentage of the global population is becoming conscious of their physical appearance. These beauty and personal care products can enhance a person’s overall appearance and offer a variety of haircare, skincare, and lip care products. Additionally, the growing demand for anti-aging products among the elderly population will contribute to high product sales.
Fortune Business Insights™ presents this information in a report titled,"Global Cosmetics Market, 2023-2030."
Growing Awareness about Skincare Routines will Improve Sales of Skincare Products
Based on category, the market is divided into skincare, hair care, makeup, and others. The skincare segment is predicted to hold a sizable share of the market during the forecast period as a growing percentage of people across the world use skincare products on a daily basis as compared to hair care products.
Working Women to Increase Usage of Cosmetics to Improve Appearance
Based on gender, the market is divided into men and women. The women segment is anticipated to hold the larger market share as the percentage of working women is growing across the world and they need these products to help them look presentable at their workplace.
Buyers to Increase Preference for Hypermarkets/Supermarkets to Gain Access to Different Brands
In terms of distribution channel, the market is divided into specialty stores, hypermarkets/supermarkets, online channels, and others. The hypermarkets/supermarkets segment is projected to account for the largest market share during the forecast timeframe as can access these stores to gain access to several brands and their products.
Geographically, the market is studied across North America, Europe, Asia Pacific, South America, and the Middle East and Africa.
Report Coverage:
The report provides a detailed industry analysis and highlights key aspects such as leading product categories, companies, and distribution channels. The report also offers valuable insights into the latest market trends and covers vital industry developments. In addition to the abovementioned factors, the report encompasses several factors that have contributed to the market’s growth in recent years.
Competitive Landscape:
Companies to Develop Organic Products to Expand their Market Presence
The leading players are focusing on making organic and natural products to expand their customer base and increase their market presence. Many companies are formulating various growth strategies, such as partnerships and collaborations, to extend their business operations.
Rising Awareness of the Importance of Health, Hygiene, and Grooming to Boost Market Growth
The self-care and grooming trend has increased tremendously in recent years as people are becoming more aware of the significance of maintaining good health and hygiene. The importance of grooming has skyrocketed among men and women, consequently boosting the sales of these products. Since more people are following an erratic lifestyle, concerns regarding overall health and wellbeing are rising, further enhancing the demand for cosmetic products.
However, more people are becoming aware of the side-effects of using cosmetics for a long time and have access to surgical options, which can hamper the market progress.
Regional Insights:
Cosmetics Sales to Increase Across Asia Pacific Due to Region’s Growing Geriatric Population
Asia Pacific is predicted to dominate the cosmetics market share as the region is witnessing a strong growth in the percentage of the geriatric population in countries such as Japan and China. This factor has increased the demand for anti-aging, dark-spot treatment, and anti-wrinkle products in these countries, thereby fueling the regional market growth.
Europe held a considerable market share as there are a large number of on-street salons that use cosmetic products on a large scale.
COVID-19 Impact
Store Closures Caused Decline in Demand for Cosmetics During COVID-19 Pandemic
The COVID-19 pandemic had a severe effect on the cosmetics market growth as these products witnessed a notable decrease in their sales during this period. The purchasing patterns of customers changed drastically across the beauty & personal care space as strict lockdowns were imposed and many beauty stores were forced to shut shop. These aspects slumped the product demand.
Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
Qualitative Analysis (in relation to COVID-19)
Impact of COVID-19
Supply Chain Challenges
Potential Opportunities due to COVID-19
Global Cosmetics Market Analysis, Insights and Forecast, 2019-2030
Key Findings / Summary
Market Size Estimates and Forecast
By Category (Value)
Hair Care
Skin Care
Makeup
Others
By Gender (Value)
Men
Women
By Distribution Channel (Value)
Specialty Stores
Supermarkets/Hypermarkets
Online/e-commerce Channels
Others
By Region (Value)
North America
Europe
Asia Pacific
South America
Middle East & Africa
North America Cosmetics Market Analysis, Insights and Forecast, 2019-2030
Key Findings / Summary
Market Size Estimates and Forecast
By Category (Value)
Hair Care
Skin Care
Makeup
Others
By Gender (Value)
Men
Women
By Distribution Channel (Value)
Specialty Stores
Supermarkets/Hypermarkets
Online/e-commerce Channels
Others
By Country (Value)
U.S
By Category (Value)
Hair Care
Skin Care
Makeup
Others
Canada
By Category (Value)
Hair Care
Skin Care
Makeup
Others
Mexico
By Category (Value)
Hair Care
Skin Care
Makeup
Others
Europe Cosmetics Market Analysis, Insights and Forecast, 2019-2030
Key Findings / Summary
Market Size Estimates and Forecast
By Category (Value)
Hair Care
Skin Care
Makeup
Others
By Gender (Value)
Men
Women
By Distribution Channel (Value)
Specialty Stores
Supermarkets/Hypermarkets
Online/e-commerce Channels
Others
By Country (Value)
Germany
By Category (Value)
Hair Care
Skin Care
Makeup
Others
France
By Category (Value)
Hair Care
Skin Care
Makeup
Others
Italy
By Category (Value)
Hair Care
Skin Care
Makeup
Others
U.K.
By Category (Value)
Hair Care
Skin Care
Makeup
Others
Spain
By Category (Value)
Hair Care
Skin Care
Makeup
Others
Rest of Europe
By Category (Value)
Hair Care
Skin Care
Makeup
Others
Asia Pacific Cosmetics Market Analysis, Insights and Forecast, 2019-2030
Key Findings / Summary
Market Size Estimates and Forecast
By Category (Value)
Hair Care
Skin Care
Makeup
Others
By Gender (Value)
Men
Women
By Distribution Channel (Value)
Specialty Stores
Supermarkets/Hypermarkets
Online/e-commerce Channels
Others
By Country (Value)
China
By Category (Value)
Hair Care
Skin Care
Makeup
Others
India
By Category (Value)
Hair Care
Skin Care
Makeup
Others
Japan
By Category (Value)
Hair Care
Skin Care
Makeup
Others
Australia
By Category (Value)
Hair Care
Skin Care
Makeup
Others
Rest of Asia Pacific
By Category (Value)
Hair Care
Skin Care
Makeup
Others
South America Cosmetics Market Analysis, Insights and Forecast, 2019-2030
Key Findings / Summary
Market Size Estimates and Forecast
By Category (Value)
Hair Care
Skin Care
Makeup
Others
By Gender (Value)
Men
Women
By Distribution Channel (Value)
Specialty Stores
Supermarkets/Hypermarkets
Online/e-commerce Channels
Others
By Country (Value)
Brazil
By Category (Value)
Hair Care
Skin Care
Makeup
Others
Argentina
By Category (Value)
Hair Care
Skin Care
Makeup
Others
Rest of South America
By Category (Value)
Hair Care
Skin Care
Makeup
Others
TOC Continued…!
Key Industry Developments:
January 2020: Natura. Co. acquired Avon. This acquisition was expected to record annual gross revenues of over USD 10 billion and a total of 40,000 associates from around 100 countries. With over 3,000 retail stores and an expanded digital presence, the acquisition was anticipated to strengthen the group’s position in the retail space.
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