Cosmetics Market Set for Expansive Growth during the forecast period
Market Overview
The increasing sale of
cosmetic products is driven by its high application across the beauty and
fashion sectors. Cosmetic products are used to enhance the personal beauty as
well as protecting the skin against external damage. Increasing fashion
awareness and self-consciousness amongst the female population in developed
regions has led to the innovation in fashion sector leading to the increased
sale of cosmetic products globally. Increasing disposable income due to
economic developments has influenced the positive growth rate of the market.
The production of cosmetic products is found to be high in North America and is
evaluated to increase at a positive growth rate in various countries of
Asia-Pacific and Europe region.
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Market Forecast
Globally the cosmetic products market share as skin protector and beauty enhancers is estimated to escalate at a higher growth rate which is supported by the rising fashion sense amongst the population. The high demand for unique beauty products are supporting the sale of various newly launched cosmetic products in the market. Developing economy of various regions are fueling up the market demand for cosmetic products.
All these factors
contribute to the calculated CAGR of 5.4% of cosmetic products market during
2017-2023.
Downstream analysis-
Demand of skin care
cosmetic products is growing at significant rate followed by makeup and color
cosmetics. This is backed up by the high consumer’s preference towards personal
skin care products enhancing their appearances.
The demand for natural
cosmetic products is supporting the sale of herbal cosmetic products as they
tend to be harmless to the skin and have no or less side effects. With the rise
in animal care awareness and protests against their slaughter for personal use
is fueling up the demand for cruelty-free cosmetics on a global level. The busy
life-style in today’s scenario and advancement in technology has increased the
sale of cosmetic products through E-commerce channels.
Competitive analysis-
The major key players
in cosmetic products market are
- L'Oréal S.A. (France)
- Avon Products, Inc (U.S.)
- The Estée Lauder Companies Inc. (U.S.)
- Oriflame Holding AG (Switzerland)
- Beiersdorf AG (Germany)
- Kao Corporation (Japan)
- Unilever (U.K.)
- Procter & Gamble Co. (U.S.)
Cosmetic products
manufacturers across various regions follow the strategy of improving their
existing product line by adding innovations to their products to expand their
business. This is one of the major factors due to which the demand of cosmetic
products is experiencing a surge. In the North America region, U.S. is amongst
the dominating countries holding a major share in cosmetic
products market and exports the product in various other countries
which include China, Canada, Mexico, Australia, Netherlands and others.
Regional Analysis
The Global Cosmetic
Products Market is segmented into North America, Europe, Asia Pacific, and rest
of the world (ROW). North America region holds a major market share followed by
Europe. The high demands for cosmetic products from the developed countries of
these regions is contributing to the positive growth of Cosmetic Products
market. Economic development and changing fashion trends is driving the
cosmetic products market. U.S., China, Hong Kong, U.K. and Germany are the
major importers of cosmetic products.
Market Segmentation-
Global Cosmetic
Products market is segmented by Type, Product-Category, Distribution Channel
and Region
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