With a predicted CAGR of 6.1% from 2023 to 2032, the size of the global premium cosmetics market was estimated at USD 116.2 billion in 2022 and is expected to reach approximately USD 197.66 billion by 2032.
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"The Global Premium Cosmetics Market 2022-2032 (USD Billion)")
Key factors driving the premium cosmetic market growth include growing beauty consciousness amongst the population in developing economies. Another major factor contributing towards the growth of the market are rising inclination of men towards complete body care along with social trends associated to beauty as well as cosmetics. On the other hand, one of the major factor that is expected to restraint the premium cosmetics market growth over the forecast period include stringent government regulation about the usage of chemical ingredients in premium cosmetics.
The global premium cosmetics market across the globe has been segmented by different distribution channels, product type and geography. Further, distribution channel segment has been bifurcated into hypermarket, supermarket, specialty stores, online and others. The distribution channel segment is led by online premium cosmetics market owing to rising online retail across the globe. Moreover, as per the analysis of IBEF (India Brand Equity Foundation) held in the year 2016, about 62% of youth in key region these days prefer online stores for purchasing beauty as well as grooming products.
Likewise product type segment of the global premium cosmetics market is sub-segmented into skin care, make-up, hair care, hygiene products, fragrances, multifunctional and others. The product type segment is dominated by skin care division of the market and is expected to maintain its dominance over the forecast period. For instance, one of the prominent players in the market L’Oreal S.A generated around 37% of their revenue from skin care segment in 2017.
Geographically, global luxury and premium cosmetics market is divided into several key region covering North America, Europe, Asia Pacific and rest of the world. The market of North America is anticipated to account for the highest premium cosmetics market share over the forecast spell owing to the support of strict government regulations with regards to the usage of chemical ingredients in cosmetics. Furthermore, Asia Pacific market is expected to bolster by the end of forecast period due to its booming retail segment of premium cosmetics market. Moreover, rising urbanization in emerging economies of Asia-Pacific region will further fuel the market growth in upcoming years.
Some of the key players operating in competitive landscape of the premium cosmetics market across the globe include Avon Products Inc., L’Oréal S.A., Unilever plc, The Procter & Gamble Company (P&G), Revlon Inc., Oriflame Holding A.G., Shiseido Company Ltd., The Estee Lauder Companies Inc. and Coty Inc.
Premium Cosmetics Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2032 |
| Study Period | 2018-2032 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2032 | USD 197.66 billion |
| Growth Rate | CAGR of 6.1 % during 2022-2032 |
| Segment Covered | By Sales Channel, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Beiersdorf AG, Clinique Laboratories, LLC., Coty Inc., Dior Beauty, Elizabeth Arden Inc., L'Oréal SA, LVMH, Sephora USA, Inc., The Estée Lauder Co. Inc., The Procter and Gamble Co |
Key segments of global premium cosmetics market include:
- Distribution channel segment
- Hypermarket
- Supermarket
- Specialty Stores
- Online
- Others
- Product type segment
- Skin Care
- Make-up
- Hair Care
- Hygiene Products
- Fragrances
- Multifunctional
- Others
- Geographical segment
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- Spain
- U.K.
- Rest of Europe
- Asia Pacific
- China
- India
- Australia
- Japan
- Rest of Asia Pacific
- Rest of the world
- Brazil
- Argentina
- South Africa
- Others
What to expect from the upcoming report on ‘Global Premium Cosmetics Market’:
- Analyzes about future prospects as well as global premium cosmetics 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 distribution channel, product 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
Frequently Asked Questions (FAQ) :
The type of the premium cosmetics market skin care, make-up, hair care, hygiene products, fragrances, multifunctional and other.
The major players are Avon Products Inc., L’Oréal S.A., Unilever plc, The Procter & Gamble Company (P&G), Revlon Inc., Oriflame Holding A.G., Shiseido Company Ltd., The Estee Lauder Companies Inc.
The base year for the report is 2023 in premium cosmetics market.