The increasing sale of cosmetic products is driven by its high
application across the beauty and fashion sectors. Cosmetic products are used
to enhance the personal beauty as well as protecting the skin against external
damage. Increasing fashion awareness and self-consciousness amongst the female
population in developed regions has led to the innovation in fashion sector
leading to the increased sale of cosmetic products globally. Increasing
disposable income due to economic developments has influenced the positive
growth rate of the market. The production of cosmetic products is found to be
high in North America and is evaluated to increase at a positive growth rate in
various countries of Asia-Pacific and Europe region.
Cosmetic
Products Market Demand
Market Forecast
Globally
the cosmetic products market share as skin protector and beauty enhancers is
estimated to escalate at a higher growth rate which is supported by the rising
fashion sense amongst the population. The high demand for unique beauty products
are supporting the sale of various newly launched cosmetic products in the
market. Developing economy of various regions are fueling up the market demand
for cosmetic products.
All these factors contribute to the calculated CAGR of 5.4% of
cosmetic products market during 2017-2023.
Competitive analysis-
The
major key players in cosmetic products market are
- L'Oréal
S.A. (France)
- Avon
Products, Inc (U.S.)
- The
Estée Lauder Companies Inc. (U.S.)
- Oriflame
Holding AG (Switzerland)
- Beiersdorf
AG (Germany)
- Kao
Corporation (Japan)
- Unilever
(U.K.)
- Procter
& Gamble Co. (U.S.)
Cosmetic products manufacturers across various regions follow
the strategy of improving their existing product line by adding innovations to
their products to expand their business. This is one of the major factors due
to which the demand of cosmetic products is experiencing a surge. In the North
America region, U.S. is amongst the dominating countries holding a major share
in cosmetic products market and exports the product in various other countries
which include China, Canada, Mexico, Australia, Netherlands and others.
Regional Analysis
The
Global Cosmetic Products Market is segmented into North America, Europe, Asia
Pacific, and rest of the world (ROW). North America region holds a major market
share followed by Europe. The high demands for cosmetic products from the
developed countries of these regions is contributing to the positive growth of
Cosmetic Products market. Economic development and changing fashion trends is
driving the cosmetic products market. U.S., China, Hong Kong, U.K. and Germany
are the major importers of cosmetic products.
Complete Report Details @ https://www.marketresearchfuture.com/reports/cosmetic-products-market-3168
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