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.
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.
Downstream analysis-
Demand
of skin care cosmetic products is growing at significant rate followed by
makeup and color cosmetics. This is backed up by the high consumer’s preference
towards personal skin care products enhancing their appearances.
The demand for natural cosmetic products is supporting the
sale of herbal cosmetic products as they tend to be harmless to the skin and
have no or less side effects. With the rise in animal care awareness and
protests against their slaughter for personal use is fueling up the demand for
cruelty-free cosmetics on a global level. The busy life-style in today’s
scenario and advancement in technology has increased the sale of cosmetic
products through E-commerce channels.
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.)
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.
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.
Market Segmentation-
Global Cosmetic Products market is segmented by Type, Product-Category,
Distribution Channel and Region.
Complete Report Details @ https://www.marketresearchfuture.com/reports/cosmetic-products-market-3168
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