Industries > Chemicals > Beauty and Personal Care Products Market Report 2020-2030
Beauty and Personal Care Products Market Report 2020-2030
Beauty and Personal Care Products Market Report 2020-2030: A Global Beauty and Personal Care Products Market Estimate and Forecast – Industry Insights for Consumption, Demand, Production, Price Trend, Competitive Intelligence and Opportunity Analysis Along the Value Chain
The global beauty and personal care products market was valued at $481.7 billion in 2018. The growth of this market is attributed towards extensive adoption of augmented reality (AR) in beauty industry as it utilizes mapping technology for both skin and face that enables consumers to view cosmetic products on their skin or face using mobiles or laptops while commuting as well.
Augmented reality technology thus eliminates the need for customers to visit store or fatigue of applying the products on their skin thereby saving efforts and time of the customers along with making the consumer buying process more flexible and suitable. The overwhelming growth in e-commerce industry, development of several beauty brands and expansive growth of beauty industry has uplifted the growth of global beauty and personal care products market at rapid pace. AR is used by various brands globally that are able to tap large consumer base and provide congenial shopping experience.
Extensive popularity amongst men for using personal grooming products is the key factor driving the growth of global beauty and personal care market. Both men and women are pervasively making expenditure in beauty products and are searching for new ways to learn about the products and various service providers are utilizing push and pull marketing strategy for expanding their market base. Skin care is considered to be vital step in day to day activities and is gaining huge popularity at significant pace.
Skin care has always been considered as a crucial step for women on the other proper care of skin is required to be undertaken by men as well. The beauty and personal care industry is launching new products exclusively to be used by men and are thus stimulating male population to pamper their skin and thereby creating ample opportunities for global beauty and personal care products market to witness growth at significant rate.
Extensive demand for anti-aging products is another factor pertaining towards the growth of global beauty and personal care products market. Women are extensively adopting products in order to enhance their beauty and become socially acceptable. In order to prevent wrinkles and early signs of aging women in their late twenty and early thirty are also adopting anti-ageing creams that is further bolstering the growth of global beauty and personal care products market at rapid pace.
However, safety issues related with the use of personal care products along with display of harmful chemical ingredients in the products is the key challenge that is further anticipated to hamper the growth of global beauty and personal care products market in the near future.
Beauty and personal care products market forecast 2020 – 2030 estimates the historical market size in terms of revenue generated by the industry players across the globe. It offers the opportunity analysis along the value chain for the beauty and personal care products manufacturers. Also, the report offers the vendor analysis along with price trend which provides an edge to the stakeholders especially manufacturers to create a better understanding of the market. Industry players benefit from the product benchmarking and matrix helping them to take right decision in choosing the right product with optimum prices suited for their end use applications.
On the basis of type, the global beauty and personal care products market are classified into organic, vegan and inorganic. Amongst these segments, vegan is expected to witness highest CAGR owing to increasing disagreement among people for using products derived from animals. Moreover, a vegan beauty product eliminates all animal extracted ingredients and are developed using minerals, plants along with secure synthetic ingredients.
Based upon distribution channel, the global beauty and personal care products market is categorised into E-Commerce, direct selling, hypermarkets & retail chain, specialty stores, and others. Amongst these segments, e-commerce segment is projected to witness highest growth during the forecast period. To gain competitive advantage large players in beauty care industry are devising effective strategies to sell products with the help of online channels. Beauty care consumers are considered to be the trendiest domain of shoppers since the products are suitable to be sold via online channels that makes them affordable to be purchased and are available at compact size.
On the basis of product, the global beauty and personal care products market is segmented into hair care, makeup & color cosmetic products, deodorants/fragrances, skin care/sun care, and others. Amongst these segments, the skin care/sun care segment is anticipated to contribute largest market revenue as consumers are being aware about the fact in order to make skin youthful, nourishing and radiant protecting it from sun plays vital role that is further fuelling the growth of global beauty and personal care products market.
The report also offers the insights for the North American, European, Latin American, and Middle East and African Market. A detail analysis of historic and forecast consumption data, revenue in the market and competitive analysis for major competitors in each region is also provided.
Beauty and personal care products market in Asia-Pacific is anticipated to generate largest revenue during the forecast period owing to increasing disposable income of population in this region along with prosperous e-commerce sector. Furthermore, extensive awareness pertaining to the use of organic and vegan products is further propelling the growth of beauty and personal care products market in this region.
The eminent key players in the global beauty and personal care products market are investing in launching new technologies to strengthen their market presence and thereby improving supply chain capability. Some of the players having prominent presence in the global beauty and personal care products market include Beiersdorf AG, The Estée Lauder Companies Inc., Avon Products, Inc., Kao Corporation, L’Oréal Group, Coty Inc., Procter & Gamble, Shiseido Company Limited, Oriflame Cosmetics SA, L’occitane International S.A., Revlon, Inc., Mary Kay Inc., Unilever, and TLC Hygienic Cosmetic Pty Limited.
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CCR Ref number: KD4R6
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