Pune, March 31, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global luxury bath and body products market is expected to grow from USD 14.23 billion in 2021 to USD 26.27 billion by 2030, at a CAGR of 7.05% during the forecast period 2022-2030.
The luxury bath and body product are one of the most personal beauty classes to use. Bathroom supplements are made up of acrylic plastic, brass, steel, metals, glass, and porcelain and have a high demand in the commercial & residential sectors, as augmentation in urbanization led to change in economic activities & growth of infrastructures like hospitals, residential areas, corporate offices, and educational universities.
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The demand for luxury products like body lotions, washes, and shower gels is expected to expand demand for the luxury bath and body products market during the projection period. The factors such as the rising number of product launches in the premium variety of creams & lotions, the rapid proliferation in urbanization, advancement in population leads to the growth of infrastructures such as educational instructions, residential houses & building, corporate offices, commercial projects, and hospitals are also helps to drive the market growth during the forecast period. Additionally, the enhancing quality of life, the positive results of beauty & personal care on self-esteem & social interaction, and the gradual customer shift toward premium & luxury cosmetic labels are also helping to drive the market’s growth. Furthermore, the advancement in customers' disposable income, the increasing demand for organic components, and customers worldwide leaning toward organic body care products also help drive the market growth during the forecast period.
Key players operating in the global luxury bath and body products market are:
• Augustinus Bader
• Aromatherapy Associates
• Chanel Limited
• Tata Harper
• This Works Products Limited
• Bamford
• Diptyque
• Chantecaille (UK) Ltd.
• The Estée Lauder Companies Inc.
• Omorovicza
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To enhance their market position in the global luxury bath and body products market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
The luxury bath and body lotions & creams product segment led the market with a market share of 40.15 % and a market value of around 5.66 billion in 2021.
The product segment is divided into luxury bath & body oils, luxury bath & body washes, and luxury bath & body lotions & creams. The luxury bath and body lotions & creams product segment led the market with a market share of 40.15 % and a market value of around 5.66 billion in 2021. This is due to the rising popularity of the cleanser & body creams & lotions.
The online distribution channel segment led the market with a market share of 56.12 % and a market value of around 7.92 billion in 2021.
The distribution channel segment is divided into offline sales and online. The online distribution channel segment led the market with a market share of 56.12 % and a market value of around 7.92 billion in 2021. This growth is attributed to the increasing visibility of several premium labels and an increased understanding of individualism in buy & choice amidst Millennials.
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Regional Segment Analysis of the Luxury Bath and Body Products Market:
• North America (U.S. Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
• Asia-Pacific (China, Japan India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
North America region occurred as the largest market for the global luxury bath and body products market with a market share of 42.06 % and a market value of 5.94 billion in 2021. North America currently dominates the luxury bath and body products market because of the presence of an extensive number of multinational players. Additionally, the busy & changing lifestyles of the customers are also helping to drive the market growth during the forecast period. Furthermore, the Asia Pacific region is expected to show the fastest CAGR of 9.11% over the projection period. This growth is attributed to the customers' desire to keep a healthy lifestyle.
About the report:
The global luxury bath and body products market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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