26-Nov-2021 | Zion Market Research
As per the findings of Zion Market Research study, the Cosmetic Products industry garnered revenue of about US$ 383.01 billion in 2020 and is set to earn revenue of nearly US$ 473.21 billion by 2028. Moreover, the Cosmetic Products market is prognosis to record CAGR of nearly 5.5% in 2021-2028. Furthermore, the growth of the cosmetic products market Size over the forecast timespan can be due to growing awareness about external beauty among adult, young, and aging populations. In addition to this, a growing trend among the working population to look beautiful, lively, and vigorous is predicted to create new growth avenues for the cosmetic products market over the assessment period.
The necessity of light make-up for working staff & professionals to make effective client presentations at conferences and seminars as well as symposiums will elicit growth of cosmetic products market over the forecasting timespan. Rise in product branding events & advertisement of cosmetic products by celebrities as well as surge in promotional activities of cosmetic products on social media, newspaper, smartphones, web, hoardings, and television will result in increment of market revenue over ensuing years. Product innovations and demand for organic or natural cosmetic products will provide impetus to growth of cosmetic products industry over forecasting timeline.
Growth of the skin care products segment over the forecast timespan can be ascribed to rise in the popularity of skin care products among the young, adult, and aging populations. Escalating consciousness about beauty among people will drive demand for skin care products over the coming years.
The segmental growth over the projected timeline is expected to be due to the easy availability of cosmetic products in supermarket stores. The rise in urbanization, increase in visit of the working population to supermarkets, and new offers & discounts provided by supermarket stores on cosmetic products are likely to prove beneficial for growth of the segment in coming years. Competitive pricing has also enhanced the popularity of supermarkets or hypermarkets in both emerging economies as well as developed countries.
Marked growth of regional market can be attributed to technological breakthroughs, economic development, the rise in purchasing power of consumers, and changing fashion trends in the sub-continent. An increase in urban population, beauty consciousness among youth, and awareness about enhancing the personal appearance is predicted to define the growth of the cosmetic products market in the Asia Pacific zone.
Browse the full “Cosmetic Products Market - By Product (Skin Care Products, Hair Care Products, Color Cosmetics, Fragrances, Personal Care Products, And Oral Care Products), By Form (Solutions, Creams, Lotions, Ointments, Suspensions, Tablets, Powders, Gels, Sticks, And Aerosols), By Application (Lips, Eyes, Eyebrows, Nails, And Face), By Distribution Channel (Online, Beauty Salons, Specialty Stores, Direct Selling, Departmental Stores, Pharmacy, And Supermarkets), By Region (North America, Europe, Asia Pacific, Latin America, And The Middle East & Africa) - Global Industry Perspective, Comprehensive Analysis And Forecast, 2021 – 2028.” Report at https://www.zionmarketresearch.com/report/cosmetic-products-market
The global Cosmetic Products Market is segmented as follows:
By Distribution Channel
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