Cosmetic Products Market - Global Industry Analysis

Cosmetic Products Market

Global Cosmetic Products Market Size, Share, Industry Share & Trend, Forecast 2023 to 2030

Category: Consumer Goods Report Format : PDF Pages: 183 Report Code: ZMR-893 Published Date: Nov-2021 Status : Published

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Cosmetic products are any preparations or substances that are placed in contact with various external parts of the human body such as external genital organs, eyes, lips, nails, and hair system or epidermis. It can even be in contact with mucous membranes and teeth in the oral cavity mostly to keep them in proper condition or protecting them, correcting body odors, changing their appearance, perfuming them, and cleaning them.

In past two decades, global cosmetic products market has witnessed 4.5% CAGR, with an annual growth rate ranging between 3 and 5.5%. The industry is even recognized as personal care and toiletries products market and has the ability to maintain continuous and stable growth in economic downturns. Through the diversity of cosmetic product segments, they are capable of satisfying overall customers’ expectations and needs with regards to cosmetics. Beauty products are categorized into mass production and premium segments as per their distribution channels, price, and brand prestige. Global premium cosmetics sales are concentrated in the developed markets such as France, Japan, and the U.S.

There has been a substantial rise in disposable income among the global population in the past decade that has primarily boosted global cosmetic products market. Changing lifestyles, growth in global economy, rising demand for sun care and skin care products owing to inconsistent climatic conditions have encouraged the growth of cosmetic products market. Inclination towards organic and natural beauty products, especially in European countries and the U.S. is fostering the demand of the industry. Escalating demand for organic, herbal, and natural beauty products has generated opportunities for producers to develop and innovate new products as per consumer preferences.

Improvement in the lifestyle of individuals is majorly influencing cosmetics industry. Consumers are becoming conscious about the usage of cosmetics in their everyday life to enhance their overall personality and style quotient. These products play a vital role in enhancing an individual’s physical features and inherent beauty. Products such as deodorants and fragrances are increasingly being used by men in their daily routine. The increasing demand for the trendy products has led to the growth of the industry worldwide.

Global cosmetic products market is categorized on the basis of the product as skin care, hair care, color cosmetics, fragrances, personal care, and oral care. Based on form, global cosmetic products market is classified into solutions, creams, lotions, ointments, suspensions, tablets, powders, gels, sticks, and aerosols. Various applications pertaining to cosmetics include lips, eyes, eyebrows, nails, and face. Cosmetics are distributed in the market via distribution channels including online, beauty salons, specialty stores, direct selling, departmental stores, pharmacy, and supermarkets.

The Asia Pacific is accounting for a substantial share in the global cosmetic products market over the forecast period. Major factors driving the industry in China, Japan, and India are their rising disposable income and working women population in these countries. Further, the introduction of new and innovative products pertaining to personal and skin care is anticipated to give a positive outlook to the regional market.

Major players in the global cosmetic products market are Alticor, Oriflame Cosmetics Global SA, Yves Rocher, Mary Kay Inc., Revlon Inc., Kao Corp., Shiseido, The Estee Lauder Companies Inc., Avon Products Inc., Beiersdorf AG, Procter & Gamble, Unilever and L’oreal Group. Manufacturers are investing heavily in research and development activities to launch new products as per the consumer's demand.

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