The size of the global market for Cosmetic and Personal Care is expected to reach 707.96 by 2030, expanding at a compound annual growth rate (CAGR) of 3.15 %.
One of the prime factors expected to drive the cosmetics & personal care market growth is rising preference for NOPC (natural & organic personal care) products, since consumers now prefer products that contain natural ingredients. Growing adoption as well as implementation of artificial intelligence in cosmetics industry will further bolster the market growth over the forecast spell. Furthermore, rising popularity of men’s grooming goods is probable of fueling the market on account of rising awareness among males about health, appearance and wellness. Moreover, men are increasingly spending over wide range of personal grooming products, for instance skin, deodorants, hair care products and shower products. Another major reason propelling the market growth is rising demand for anti - aging products due to growing elderly population and awareness about the beneficial effects of anti - aging products.
The global cosmetic & personal care market has been segmented by different product, distribution channel, type and geography. Further, product segment of the market has been sub-divided into makeup & color cosmetic products, hair care, skin care/sun care, deodorants/fragrances and others. The skin care/sun care division of product segment led the market in terms of revenue in 2017 and anticipated to maintain its dominance over the forecast period.
Likewise, distribution channel of the market has been divided into hypermarkets & retail chains, E-Commerce, specialty stores and direct selling. E-commerce division of the segment is expected to register substantial growth over the forecast period. Similarly, type segment of the cosmetic & personal care market has been bifurcated into organic, inorganic and vegan. Vegan cosmetics segment is expected to witness significant growth in upcoming years owing to rising awareness about the benefits of the product.
Geographical segment of the cosmetic & personal care market across the globe was led by Asia Pacific region in terms of revenue in historical year. Some of the major contributors towards the regional market growth include escalating demand for organic & vegan cosmetic products, growing population as well as rising penetration of artificial intelligence in the industry. Furthermore, the region is expected to main its dominance gaining majority cosmetic & personal care market share over the forecast spell owing to constantly increasing disposable income and booming E-Commerce industry.
Some of the key players operating in the competitive landscape of the cosmetic & personal care market include Beiersdorf AG, Avon Products Inc., Kao Corporation, Coty Inc., L’occitane International S.A., Procter & Gamble, L’Oréal Group and Mary Kay Inc.
Cosmetic and Personal Care Market Scope
|Forecast Unit||Value (USD)|
|Segment Covered||product, Distribution, Type, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and South Africa|
|Key Players Profiled||Beiersdorf AG, Avon Products Inc., Kao Corporation, Coty Inc., L’occitane International S.A., Procter & Gamble, L’Oréal Group.|
Key segments of the global cosmetic & personal care market include:
- Product Segment
- Skin Care/Sun Care
- Hair Care
- Makeup & Color Cosmetic Products
- Distribution Channel Segment
- Direct Selling
- Hypermarkets & Retail Chains
- Specialty Stores
- Type Segment
- Geographical Segment
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
What to expect from the upcoming report on ‘Global cosmetic & Personal Care Market’:
- Analyzes about future prospects as well as global cosmetic & personal care market trends market over the forecast period (2018-2025)
- Information regarding technological progressions as well as innovations taking place in developing as well as developed economies and also various macro & microeconomic factors that affect the growth of the market.
- Supportive initiatives by government likely to influence the market dynamics.
- Key drivers influencing market’s growth, opportunities, restraints, sales channels and distributors.
- In-depth analysis of different market segmentations including product, distribution channel type and geographical regions.
- Deep analysis about the competitive landscape of the market and the initiatives by them to improve this market such as expansions, growth strategies, agreements, new product launches and acquisitions in the market
- Value Chain and Sales Channels Analysis