Cosmetics Market Size to Hit USD 415.29 Billion by [2021-2028]; Rising Awareness Regarding Health, Hygiene, and Grooming to Augment Industry Growth, Says Fortune Business Insights™

 The global cosmetics market size is expected to gain momentum by reaching USD 415.29 billion by 2028 from USD 287.94 billion in 2021 while exhibiting a CAGR of 5.0% between 2021 to 2028. In its report titled, “Cosmetics Market, 2021-2028,” Fortune Business Insights mentions that the market stood at USD 277.67 billion in 2020.

In recent times, demand for makeup and skincare products has surged dramatically. Both men and women use it to enhance their overall appearance. The industry offers a wide variety of products, such as hair care, face care, lip care, and others. Additionally, the increasing demand for anti-aging creams and serums and the development of advanced tools and innovative packaging is attracting consumers. Besides, the new trend of personalized products for a specific person, based on their hair type, skin tone & texture, eye color, is generating traction. The manufactures are also trying to grab consumers' attraction by coming up with sustainable packaging and chemical-free products to cater to the demand for every individual.

COVID-19 Impact

The cosmetic industry was negatively impacted by the COVID-19 pandemic. The manufacturers witnessed a decline in their sales, and the consumers' purchasing patterns also witnessed a change. For instance, Estee Lauder's report published in April 2020 stated that most of the retail stores had to be closed since mid-March 2020 across its operating regions, including The Americas and Europe, and the Middle East & Africa. Moreover, the company production unit in Whitman, the U.K., started manufacturing hand sanitizers under the company’s brands Jo Malone London.

Further, a rapid shift towards online channels was seen, as the retail stores were closed. According to L'Oréal's 2020-annual-results published in February 2021, the company’s sales increased by 62% for e-commerce across all divisions and all regions, accounting for about 26.6% of the total company’s sales for 2020.

List of Key Players Profiled in the Cosmetics Market Report

  • L’Oréal S.A. (Paris, France)
  • Unilever (London, U.K.)
  • Procter & Gamble Co. (Ohio, US)
  • The Estée Lauder Companies Inc. (New York, U.S.)
  • Beiersdorf AG (Hamburg, Germany)
  • Shiseido Co., Ltd. (Tokyo, Japan)
  • Coty Inc. (New York, U.S.)
  • Natura & Co. (São Paulo, Brazil)
  • Kao Corporation (Tokyo, Japan)
  • Johnson & Johnson Services, Inc. (New Jersey, U.S.)

What does the Report Provide?

The market report provides a detailed analysis of several factors, such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to introduce new products, announce partnerships, and collaborate to contribute to the market growth.

Driving Factors

Availability of Customized Beauty & Skincare Products to Drive Market Growth

In recent times, demand for personalized skincare, hair care is promoting manufacturers on introducing personalization and digitalization in cosmetic products to increase customers. For instance, in February 2020, L’Occitane Group announced the launch of its new range of personalized range called Duolab. The range has a countertop device that functions artificial intelligence (AI) technology. This device helps in finding out one’s skin condition to provide it a face care solution in the form of freshly blended cream. Therefore, increased awareness regarding grooming coupled with technological advancements is expected to support the cosmetics market growth in upcoming years.

Market Segmentation:

By category, the market is segmented into hair care, skincare, makeup, and others. By gender, it is bifurcated into men and women. By distribution channel, it is divided into specialty stores, hypermarkets/supermarkets, online channels, and others. Finally, based on region, the market is categorized into North America, Europe, Asia Pacific, and the rest of the world.

Competitive Landscape

Key Players to Focus on Partnerships and New Launches to Strengthen Market Growth

This market is consolidated by major companies striving to maintain their position by focusing on new launches, collaborations & partnerships, and acquisitions. Such strategies taken up by key players are expected to strengthen its market prospects.

Regional Insights

Asia Pacific to Dominate the Market Backed by Increasing Urbanization and Standard of Living

Asia Pacific is expected to dominate with market size of USD 102.55 billion in 2020. Increasing urbanization & standard of living, growing number of working women, and rising middle-class population are the key contributing factors for the growth of the market in this region.

North America on the other hand is expected to witness positive growth owing to the rising disposable income and high spending power of the population in the region. Additionally, an increasing number of beauty product stores in the region is also one of the major flourishing factors for the growth of the market during the forecast period. For instance, in February 2020, one of the largest cosmetics retail store Sephora announced its expansion plans, that included the opening of around 100 new stores across the North America region by 2020.

Detailed Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
    • Emerging Trends
  • Key Insights
    • Overview of the Parent/Related Markets
    • Industry SWOT Analysis
    • Supply Chain and Regulatory Analysis
    • Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
    • Qualitative Analysis (in relation to COVID-19)
    • 4.5.1 Impact of COVID-19
    • 4.5.2 Supply Chain Challenges
    • 4.5.3 Potential Opportunities due to COVID-19
  • Global Cosmetics Market Analysis, Insights and Forecast, 2017-2028
    • Key Findings / Summary
    • Market Size Estimates and Forecast 
      • By Category (Value)
        • Hair Care
        • Skin Care
        • Makeup
        • Others
      • By Gender (Value)
        • Men
        • Women
      • By Distribution Channel (Value)
        • Specialty Stores
        • Supermarkets/Hypermarkets
        • Online/e-commerce Channels
        • Others
      • By Region (Value)
        • North America
        • Europe
        • Asia Pacific
        • South America
        • Middle East & Africa
  • North America Cosmetics Market Analysis, Insights and Forecast, 2017-2028
    • Key Findings / Summary
    • Market Size Estimates and Forecast 
      • By Category (Value)
        • Hair Care
        • Skin Care
        • Makeup
        • Others
      • By Gender (Value)
        • Men
        • Women
      • By Distribution Channel (Value)
        • Specialty Stores
        • Supermarkets/Hypermarkets
        • Online/e-commerce Channels
        • Others
      • By Country (Value)
        • U.S
          • By Category (Value)
            • Hair Care
            • Skin Care
            • Makeup
            • Others
        • Canada
          • By Category (Value)
            • Hair Care
            • Skin Care
            • Makeup
            • Others
        • Mexico
          • By Category (Value)
            • Hair Care
            • Skin Care
            • Makeup
            • Others

TOC Continued…!

Below is the industry developments:

  • January 2020: Natura &Co announced the acquisition of Avon Products, Inc. Avon offers beauty and personal care products. Through this acquisition, Natura aims to expand its product portfolio.
  • February 2021: Revlon made a partnership with MDR Brand Management to come up with new cosmetics products and increased consumer engagement across the EMEA, APAC, and America. 

Browse Detailed Overview of This Research:

https://www.fortunebusinessinsights.com/cosmetics-market-102614

About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

Address:

Fortune Business Insights Pvt. Ltd.9th Floor, Icon Tower, Baner –

Mahalunge Road, Baner, Pune-411045,

Maharashtra, India.

Phone:

US: +1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

Email: sales@fortunebusinessinsights.com

LinkedIn Facebook Twitter

https://ml.globenewswire.com/media/MWU0MmVhZTQtNDIwYi00OWJmLWI1YWUtMjEwYjNmM2Y1YjcxLTUwMDA2NjY2Mw==/tiny/Fortune-Business-Insights.png

Comments

Post a Comment

Popular posts from this blog

Nail Art Printer Market Share, Demand, Top Players, Industry Size, Future Growth By 2029

The global nail art printer market size is anticipated to showcase significant product sales in the foreseeable future due to increased expenditure on grooming products. This information is published by Fortune Business Insights in its report, titled " Nail Art Printer Market, 2021-2028 ". The product provides time efficiency to its user while avoiding a wide range of designs and colors to choose from. Moreover, it increases cost-efficiency while providing fashionable artwork to the changing taste of the user. The rising adoption of associated products such as nail stickers, accessories, and others are also significant contributors to product sales  Get Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/nail-art-printer-market-104497 List of Key Players Profiled in the Market: Guangzhou Taiji Electronic Co., Ltd. Amy Beauty Equipment Shenzhen Tuoshi Network Communications Co., Ltd. Funai Electric Co., Ltd. Yinghe Electronic Instru...
Read more

Turtle Food Market Revenue, Future Growth, Trends, Top Key Players, Business Opportunities, Industry Share, Size Analysis by Forecast 2029

The global turtle food market size is expected to gain momentum owing to the increasing demand for nutritious pet food products during the forecast period. This information is published by Fortune Business Insights™ in an upcoming report, titled, “ Turtle Food Market, 2022-2029 .” Turtle food manufacturers are concentrating their efforts on the substances used in their foods in order to deliver effective vitamins and minerals to turtles' bodies and shelves. Pet food items are in high demand due to the growing trend of nuclear families and the increasing humanization of pets. Most individuals keep turtles in their residences or gardens to satisfy their desire to pet them. For instance, in December 2019, Iams, a luxury pet nutrition brand, was launched by Mars International under the pet care sector. The product aids in the promotion of proper pet nutrition and wellness. It provides nutritional solutions according to the size, breed, and age of your pet. COVID-19 Impact- Detriment...
Read more

Sportswear Market Analysis by Trends, Size, Share, Company Overview, Growth and Forecast by 2028

Image
The global sportswear market is projected to grow during the projected period due to the increasing awareness about healthy lifestyles and regular workout activities.  Fortune Business Insights™  publishes this information in a report titled,  " Sportswear Market, 2021-2028 " . As per the report, the sportswear market size was  USD 160.61 billion  in 2020. The market is projected to grow from  USD 170.94 billion  in 2021 to  USD 267.61 billion  by 2028 at a  CAGR of 6.6%  during the 2021-2028 period. COVID-19 Impact: Restrictions On Non-Essential Goods Hampered The Market Growth The outbreak of COVID-19 pandemic harshly affected the apparel industry due to disrupted supply chains and restricted manufacturing and production operations. The government imposed strict restrictions on travel activities which hampered the product shipments. The halt on manufacturing and production units affected the productivity and profitabi...
Read more