Cosmetics Market Worth USD 395.14 Billion by 2028 at 5.34% CAGR – Report by Market Research Future (MRFR)

Cosmetics Market Insights and Industry Analysis by Product Type (Skin Care, Hair Care, Nail Care, Color Cosmetics and others), Category (Conventional and Organic), Distribution Channel (Store-Based and Non-Store-Based) and Region, Competitive Market Size, Share, Trends, and Forecast to 2028


New York, US, Aug. 26, 2021 (GLOBE NEWSWIRE) -- Cosmetics Market Overview

According to a comprehensive research report by Market Research Future (MRFR), “Cosmetics Market Information by Product Type, Category, Distribution Channel and Region - Forecast till 2028”, the market is projected to cross USD 395.14 Billion by 2028 at 5.34% CAGR.

Major Growth Boosters

South Korea and several other countries in Asia have come to the forefront of the global market, with leading brands launching innovative cosmetic products. Asia has gained global attention, as the manufacturers are striving to push the boundaries with highly innovative products, such as snail skin facials. On the other hand, the global players are increasingly incorporating ingredients as per the evolving needs and tastes of the consumers. They combine high SPF in moisturizers while infusing elasticity boosters into various skincare products. The positive effects of these cosmetic products and their high quality has proved to be favorable for the cosmetics industry.

Manufacturers are bringing changes to their brand images while aggressively advertising to bolster their sales either locally or worldwide. Innovative marketing tactics like product launches infused with natural ingredients as well as attractive packaging also help the companies boost the sales of their products. With cosmetics turning out to be an integral aspect of consumers’ lives, products that are easy to use, handy, and compact, while attending social gatherings and travelling have become the latest trend. Surge in the urbanization rate, expanding working class populace and the competitive pricing of these products also add to the market strength across the globe.

Get Free Sample PDF Brochure @ https://www.marketresearchfuture.com/sample_request/3168

Competitive Landscape

The global industry is inundated with numerous well-known vendors, including

  • The Estée Lauder Companies Inc. (US)
  • L'oréal Group (France)
  • Procter & Gamble Co. (US)
  • Revlon Inc. (US)
  • Shiseido Co. Ltd. (Japan)
  • Kao Corporation (Japan)
  • Avon Products Inc. (UK)
  • Beiersdorf AG (Germany)
  • Coty Inc. (US)
  • Unilever (UK)
  • Amway Corporation (US)
  • Oriflame Holding AG (Switzerland)
  • Skinfood (South Korea)
  • Yves Rocher (France)
  • Church & Dwight Co. Inc. (US)

Aiming to bolster their global presence and consumer base, these companies constantly adopt competitive strategies including product launches, partnerships, and acquisitions. Manufacturers are also capitalizing on the latest trend of eco-friendly and organic products devoid of any harmful chemicals. To cite a reference, in August 2021, Indus Valley Bio Organic introduced its latest line of DIY combo facial Kits that are completely organic and are also sustainable. This launch adds to their "Making beauty safe and chemical-free" mission, by offering customers with an economical product line. The launch also caters to the customers that desire to explore all-natural cosmetic products without worrying about the chemical-laced ingredients.

Market Restraints

The cosmetics market demand in underdeveloped countries is quite low, given the poor economic standards and the low disposable income of the consumers.

Browse In-depth Market Research Report (90 Pages) on Cosmetics: https://www.marketresearchfuture.com/reports/cosmetic-products-market-3168

COVID 19 Analysis

There was a sharp drop in the demand for cosmetics following the COVID 19 outbreak, as the pandemic had a grave impact on the global economy. The global market, post-pandemic has also seen a change in the customers’ behavior, tastes and preferences, given that the demand for essential products is much higher than non-essential items.

However, with major brands increasingly emphasizing on strengthening their supply chains, distribution channels and improving the quality of their products, the market could cover substantial grounds in the future. Even the eCommerce sector has emerged as a remarkable solution in these uncertain times, as online shopping has become prevalence among majority of the consumers.

Market Segmentation

Product type, category, and distribution channel are the key markets for cosmetics worldwide.

Depending on product type, the global market caters to hair care, skin care, color cosmetics, nail care, and more.

Category-based segments considered in the report are organic as well as conventional.

The major distribution channels are store-based and non-store-based. Store-based distribution channels can be segmented with respect to convenience stores, supermarkets & hypermarkets, and others.

Buy Now: https://www.marketresearchfuture.com/checkout?currency=one_user-USD&report_id=3168

Regional Analysis

The cosmetics industry can be regionally considered for Asia Pacific/APAC, Europe, North America, and also RoW or the rest of the world.

Europe captured the highest share of 30% in the worldwide cosmetic industry in 2018, emerging as the biggest consumer. A variety of cosmetic products experience booming sales in the region, thanks to the accelerated demand for anti-aging cosmetics among the rapidly burgeoning elderly population. The significant social media penetration across several counties in the region has also had a tremendous impact on the cosmetics sector, with consumers increasingly opting for products extensively endorsed by popular influencers and celebrities.

In view of the rapidly mushrooming middle-class population and the steady rise in their disposable incomes, the consumption of cosmetics in Asia Pacific has skyrocketed over the years. As a result, the APAC market could possibly secure the fastest growth rate over the following years. The region has several esteemed brands with massive portfolios and distribution networks. South Korea is quite famous for its beauty trends across the globe and has a flourishing cosmetics market. With that said, China, Indonesia, Japan, Thailand, and Malaysia are also gaining major traction in the field. Japan has cemented its standing in the region’s cosmetics market, with significant contribution from renowned brands like Shiseido.

Share your Queries @ https://www.marketresearchfuture.com/enquiry/3168

About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

Follow Us: LinkedIn | Twitter

 

Contact Data