“Cosmetics Market Size, Growth | Global Industry Analysis, 2028 | Top Market Players Procter & Gamble Co. , L’Oréal Group , Shiseido Co. Ltd. etc. “

Cosmetics Market Overview

The Global Cosmetic Market size is estimated to reach USD 395.14 billion and record a CAGR of 5.34% by the end of 2024.

Market Dynamics

Several factors are expected to drive the global cosmetic goods market. The increasing consumer focus on grooming and personal appearance is seen to be a significant influence in the global rise of cosmetic products. Rapid urbanization and rising consumer disposable income per capita are also seen as key drivers in the global cosmetics business. Skincare cosmetics are becoming increasingly popular, followed by makeup and color cosmetics. This is supported by consumers’ strong desire for personal skin care products that improve their appearances.

Over the last few years, the global cosmetics business has seen significant expansion. Cosmetic companies are cooperating with e-commerce enterprises to reach the widest possible audience and expand their consumer base. Aside from that, leading companies in the cosmetic goods market are focusing on creative marketing methods to increase customer awareness of new product launches. Furthermore, because of growing consumer knowledge of the negative consequences of synthetic substances, demand for organic cosmetics has been developing at a rapid rate in industrialized economies. The rising popularity of organic cosmetics has proven to be a crucial component in the global cosmetics market’s rapid expansion. The demand for natural cosmetics is fueling the sale of herbal cosmetics, which are generally safe for the skin and have few or no adverse effects. The global demand for cruelty-free cosmetics is being fueled by an increase in animal welfare awareness and protests against their murder for personal use. To increase sales in different nations, manufacturers are modifying their product branding and advertising techniques. Manufacturing businesses have used innovative techniques to promote sales of their cosmetics items, such as new product launches with natural components and appealing packaging.

Chemicals employed in cosmetics manufacture, on the other hand, can affect a person’s skin or other body parts. Furthermore, using cosmetic items daily may be harmful to the skin. Chemicals used as cosmetic additives can have a variety of negative skin impacts. Hair fall is caused by long-term and extensive usage of chemical-rich shampoos, serums, and conditioners. Furthermore, excessive use of color cosmetics for the eyes and lips can lead to a variety of skin problems and health risks. As a result, increasing customer awareness of Potential cosmetic side effects and skin issues is a key factor limiting the market’s overall growth.

Analytical Segmentation

The global cosmetic market has been segmented based on product type, category, distribution channel, and region.

The market has been divided into skincare, haircare, nail care, color cosmetics, and others based on product types.

The market has been divided into two categories: conventional and organic.

The market has been divided into two categories depending on distribution channels: store-based and non-store-based. Supermarkets and hypermarkets, convenience stores, and others make up the store-based distribution channel.

Region Overview

In 2018, the European region accounted for a considerable market share of 30% in the worldwide cosmetic market. Several factors are expected to fuel the growth of the cosmetics goods market in Europe. The increasing use of anti-aging cosmetics among customers is one of the major factors driving the expansion of cosmetic products.

Furthermore, the cosmetic market in Europe has seen huge technological growth because of the use of new substances in the cosmetic product manufacturing process. Throughout the projected period, Germany is expected to maintain its dominance in the European cosmetics market.

During the study period, however, the Asia-Pacific area is expected to increase at the fastest rate. The increasing population in Asia-Pacific growing economies such as India, China, and Indonesia, as well as rising per capita disposable income among consumers, are expected to be important factors driving the market for cosmetics products in the region.

Competitive Dynamics

The notable players of the market are The Estée Lauder Companies Inc. (US), L’oréal Group (France), Procter & Gamble Co. (US), Revlon Inc. (US), Shiseido Co. Ltd. (Japan), Kao Corporation (Japan), Avon Products Inc. (UK), Beiersdorf AG (Germany), Coty Inc. (US), Unilever (UK), Amway Corporation (US), Oriflame Holding AG (Switzerland), Skinfood (South Korea), Yves Rocher (France), and Church & Dwight Co. Inc. (US).

NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

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