Rising sale of premium cosmetics is driven majorly by
developing economy and rising disposable income. Product recall created among
the consumers based on product promotions by famous celebrities is influencing
the growth of this market positively. Premium cosmetics show instant results on
the skin and show comparatively less side effects, which is one of the major
factors driving this market. The production and the consumption of premium
cosmetics is high in North America and is projected to increase at a positive
growth rate in various countries of Europe and Asia Pacific over the given
forecast period.
Premium
cosmetics products Industry
Market Forecast:
The global premium cosmetics market share is expected to grow
at a higher growth rate supported by positive influencing of the fashion sector
on this market. Technological strides are resulting in improved product
quality, which is also adding fuel to the growth of this market. Increasing
demand for specialty effective ingredients containing cosmetics is further
projected to increase the sale of the product.
Competitive Analysis:
The key players in the premium cosmetics market are
- Coty,
Inc. (U.S.)
- Estée
Lauder Companies Inc. (U.S.)
- Chanel
S.A. (France)
- L'Oréal
S.A. (France)
- LVMH
Moët Hennessy Louis Vuitton SE (France)
- Shiseido
Co.,Ltd. (Japan)
- Kao
Corporation (Japan)
Premium cosmetics manufacturers across various regions are
following the strategy of product innovations and increased focus on R & D
to penetrate the global market and to meet the growing demand for the product.
Enhancement of the product quality and increasing production of vegan and
organic products will further attract the consumers to choose from various
available options from premium cosmetics. In North America, the U.S. dominates
premium cosmetics market and exports the product to various other countries,
which include Canada, the U.K., China, Australia, and others.
Downstream Analysis:
On the basis of type, skin care based premium cosmetics
dominates the market based on high consumer end demand for skin based
products. However, changing cosmetics trends and increasing promotions for
cosmetics and personal care products for babies will affect the sale of baby
care cosmetics positively. Furthermore, based on the category, conventional
premium cosmetics dominates the market owing to high production capacity and
less consumers’ awareness about other available substitutes.
Additionally, store based sale of premium cosmetics dominates
the distribution channel owning to consumers’ preferred shopping experience.
Complete Report Details @ https://www.marketresearchfuture.com/reports/premium-cosmetics-market-4435
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