SAN FRANCISCO, Sept. 15, 2020 (GLOBE NEWSWIRE) -- The Market has witnessed shift in demand towards organic and natural cosmetics, which also provides avenues for growth. Factors such as increasing consumer awareness and rise in disposable income are estimated to contribute significantly towards industry growth over the next seven years.
The Winning Report [Global Cosmetics Market – Industry Trends and Forecast to 2026] published by Data Bridge Market Research provides the all-inclusive data regarding the market with growth, share, size and recent market trends. Best practice models and research methodologies are utilized in this market research report to give comprehensive market analysis, accurate market segmentation and insights.
Global Cosmetics Market is expected to rise from its initial estimated value of USD 435.47 Billion in 2018 to an estimated value of USD 648.31 Billion by 2026, registering a CAGR of 5.10% during the forecast period of 2019-2026. This rise in market value can be attributed to the changing lifestyles and rising disposable income of several countries.
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Presently, the global cosmetics market is dominated by several key players including LOreal International, Avon Products, Inc., Procter & Gamble, Unilever, Oriflame Cosmetics AG, REVLON, Kao Corporation, The Estée Lauder Companies Inc., Skin Food, Johnson & Johnson Services, Inc., Bayer AG, Henkel AG & Co. KGaA, Clarins, Alticor Inc., Mary Kay Inc., Beiersdorf AG, Yves Rocher, Shiseido Co., Ltd, Maybelline New York and Nykaa E-Retail Pvt. Ltd.
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The titled segments and sub-section of the market are illuminated below:
- By Category (Skin & Sun Care Products, Hair Care Products, Deodorants, Fragrances, Makeup & Color Cosmetics),
- Distribution Channel (Retail Sale, Online Sale),
- Gender (Male, Female)
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How Does This Market Insights Help?
- Cosmetics Market share (regional, product, application, end-user) both in terms of volume and revenue along with CAGR
- Key parameters which are driving this market and restraining its growth
- What all challenges manufacturers will face as well as new opportunities and threats faced by them
- Learn about the market strategies that are being adopted by your competitors and leading organizations
- To gain insightful analyses of the market and have a comprehensive understanding of the “Cosmetics Market” and its commercial landscape
Changing lifestyles
Improvement in the current lifestyles of the individuals is majorly affecting the cosmetics market. Consumers have now become more conscious regarding the usage of cosmetics in their daily life in an effort to step up their style quotient and overall personality. Cosmetics play an important role in enhancing one’s inherent beauty and physical features. Men are also increasingly using cosmetics in their daily routine including various types of fragrances and deodorants. This growing demand of cosmetic products has in turn led to the growth of cosmetics market across the world.
Note – The COVID-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries. This report on ‘Cosmetics Market’ provides the analysis on impact on COVID-19 on various business segments and country markets. The reports also showcase market trends and forecast, factoring the impact of COVID-19 Situation.
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Key Developments in the Market:
- In January 2019, LOreal International is recognized as the global leader in the world for the third time in a row with triple “A” score. This would help in the development of the company and also helps to enhance the customer base.
- In December 2018, Avon Products, Inc. launched new K-beauty collection products with a wide range of new and innovative products from Korea. This strategy helped the company to expand their product portfolio.
- The cosmetics market is highly driven by innovation underpinned by quality. New product development and provision of an assortment of products is the key strategy adopted by key players in order to capture a sizeable market share in this segment.
- Rise in consumer disposable income along with improved living standards, particularly in developing countries such as China, India, and Malaysia is expected to fuel the Asia Pacific cosmetics market demand. North America is a mature market and is also expected to witness growth over the foreseeable future. This growth may be primarily attributed to high R&D developments and introduction of advanced and innovative products.
Market Drivers and Restraints:
- Rising demand of natural ingredients in various cosmetic products is expected to drive the market growth
- Attractive marketing strategies and changing packaging styles are also expected to stimulate the market growth
- Advanced beauty treatments are expected to restrain the market growth
- Growing awareness related to the possible side-effects of cosmetics is also expected to hamper the market growth
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Table of Contents –Analysis of Key Points
- Part 1: Market Overview, Development, and Segment by Type, Application & Region
- Part 2: Global Market by company, Type, Application & Geography
- Part 3-4: Asia-Pacific Market by Type, Application & Geography
- Part 5-6: Europe Market by Type, Application & Geography
- Part 7-8: North America Market by Type, Application & Geography
- Part 9-10: South America Market by Type, Application & Geography
- Part 11-12: Middle East & Africa Market by Type, Application & Geography
- Part 13: Company information, Sales, Cost, Margin etc.
- Part 14: Conclusion
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