Cosmetics enhances one's appearance through various applications. Foundation serves as a fundamental product, creating a smooth and even skin tone, while concealer addresses imperfections, offering a flawless complexion. Makeup, a versatile application of cosmetics, adds color and definition to features, allowing individuals to express their style. From eyeshadows that accentuate eyes to lipsticks that bring attention to the lips, cosmetics contribute to a diverse range of looks. Beyond aesthetics, cosmetics can foster confidence and self-expression, empowering individuals to present their best selves.
According to Data Bridge Market Research analyses, the Global Cosmetics Market, which was USD 2,54,227.06 million in 2022, is expected to reach upto USD 3,99,123.33 million by 2030 and is expected to undergo a CAGR of 5.80% during the forecast period of 2023-2030.
"Growing awareness among consumers regarding skincare routines boosts the market growth"
The global cosmetics market is experiencing growth due to the growing awareness among consumers regarding skincare routines. With an increasing focus on health and well-being, consumers are becoming more conscious of the importance of a comprehensive skincare regimen. This awareness has spurred a heightened demand for skincare products, including cleansers, moisturizers, and specialized treatments. Consumers seek products catering to specific skin concerns and promoting overall skin health. This trend is driven by a desire for preventive skin care measures and a shift towards a holistic approach to beauty. The cosmetics industry responds with innovative and targeted skincare solutions, contributing to the market's growth and evolution.
What restraints the growth of the global cosmetics market?
“Stringent regulations and consumer advocacy hampers the market growth”
Stringent regulations and consumer advocacy pose notable constraints on the global cosmetics market. Stringent regulatory frameworks, particularly in regions such as the European Union and North America, impose rigorous standards on product ingredients, safety, and testing procedures. Compliance with these regulations often entails increased costs and longer product development timelines for cosmetic manufacturers.
Segmentation: Global Cosmetics Market
The global cosmetics market is segmented on the basis of product type, nature, category, packaging type, distribution channel, and application.
- On the basis of product type, the global cosmetics market is segmented into skin care, hair care, make up, fragrances, and others
- On the basis of nature, the global cosmetics market is segmented into inorganic, and organic
- On the basis of category, the global cosmetics market is segmented into mass product, premium product, and professional product
- On the basis of packaging type, the global cosmetics market is segmented into bottles and jars, tubes, containers, pumps and dispensers, sticks, aerosol cans, pouches, blisters, and strip packs
- On the basis of distribution channel, the global cosmetics market is segmented into offline, and online
- On the basis of application, the global cosmetics market is segmented into women, and men
Regional Insights: Asia-Pacific is expected to dominate the Global Cosmetics Market
The Asia-Pacific, China is expected to dominate the cosmetics market due to diverse consumer demands and the presence of key players. China, in particular, holds the largest market share, driven by a surge in demand for skincare products such as face masks and anti-wrinkle creams. This growth is fueled by an affluent population, increasing focus on personal grooming, and heightened awareness of skincare practices.
In North America, the U.S. holds the second-largest share of the cosmetics market, primarily attributed to numerous influential players in the region. This ranking underscores the U.S.'s competitive landscape and market strength, where key industry leaders contribute significantly to the overall market dynamics.
In Europe, Germany has experienced significant growth in the cosmetics industry, driven by a rising consumer interest in organic products. The increasing demand for organic cosmetics reflects German customers' growing awareness and preference for natural and sustainable beauty solutions.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-cosmetics-market
Recent Developments in the Global Cosmetics Market
- In June 2022, L’Oreal revitalized Lancome, a prestigious beauty brand, in the Indian market. The strategic decision was motivated by the discernible surge in demand for high-end and luxury products within the personal care and beauty sectors in India, thus prompting the relaunch initiative
The Prominent Key Players Operating in the Global Cosmetics Market Include:
- Procter & Gamble (U.S.)
- L'Oreal S.A. (France)
- The Estee Lauder Companies Inc. (U.S.)
- Coty Inc. (U.S.)
- Shiseido Company, Limited (Japan)
- Colgate-Palmolive Company (U.S.)
- Kao Corporation (Japan)
- Beiersdorf Group (Germany)
- Unilever (Netherlands)
- Amorepacific (South Korea)
- Johnson & Johnson Services, Inc. (U.S.)
- Revlon, Inc. (U.S.)
- LMVH (France)
- Oriflame Cosmetics Global SA (Switzerland)
- Espa (United Kingdom)
- Henkel AG & Co. KGaA (Germany)
- Mary Kay (U.S.)
- Natura&Co (Brazil)
- CHANEL (France)
- KOSÉCorporation(Japan)
Above are the key players covered in the report, to know about more and exhaustive list of global cosmetics market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Cosmetics Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
