ID: MRFR/CR/2290-HCR | February 2021 | Region: Global | 90 pages
Cosmetic is designed to be used or applied to enhance the beauty and physical appearance of an individual. Cosmetic products are of several types, such as skincare, hair care, nail care, color cosmetics, and more. Primarily, cosmetic products are manufactured from artificial sources. However, increasing consumer acceptance of naturally derived sources has enforced the manufactures to use natural materials in the production of cosmetic products. The Global Cosmetic Products Market size is estimated to reach USD 365.27 billion and record a CAGR of 5.75% by the end of 2024.
The global cosmetic products market is anticipated to be driven by several factors. Rising consumer focus towards grooming and personal appearance is considered to be a significant factor for the rising growth of cosmetic products at a global level. Rapid urbanization, increasing per capita disposable income of the consumers are also considered vital drivers in the global cosmetic products market.
The global cosmetic products industry has witnessed massive growth over the last few years. The cosmetic manufacturers are collaborating with E-commerce companies in order to reach maximum customers to increase the customer base. Apart from that, key players in the cosmetic products market are emphasizing in the innovative marketing strategies in order to improve consumer awareness regarding the new product launches. Additionally, the demand for organic cosmetic products has been rising at a high pace in the developed economies owing to the increasing consumer awareness regarding the adverse effects of synthetic ingredients. The growing trend of organic cosmetic products has turned out to be a significant factor for the high growth of the global cosmetic products market.
The global cosmetic market has been segmented based on product type, category, distribution channel, and region.
Based on product types, market has been classified into skin care, hair care, nail care, color cosmetics, and others.
Based on category, market has been segregated into conventional, organic.
Based on distribution channel, market has been categorized into store-based and non-store-based. Store-based distribution channel has been further segmented into supermarkets & hypermarkets, convenience stores, and others.
The global cosmetic industry has been analyzed for four key regions—North America, Europe, Asia-Pacific, and the rest of the world. The North American cosmetic products market has further been segmented into the US, Canada, and Mexico.
The European market has been classified as the UK, Germany, France, Italy, Spain, and the Rest of Europe.
Asia-Pacific has been divided into China, India, Japan, Australia, and New Zealand, and the rest of Asia-Pacific. The cosmetic market in the rest of the world has been segmented into South America, the Middle East, and Africa.
Global Cosmetic Market Share (%), by Region, 2018
Source: Secondary Sources and MRFR Analysis
Regional Market Summary
Among the regions, Europe region has accounted for a significant market proportion of 30% in the global cosmetic market in 2018. The growth of the cosmetics products market in Europe is anticipated to be driven by several factors. One of the significant factors for the rising growth of cosmetic products is the increasing usage of anti-aging cosmetic products among consumers.
Moreover, the cosmetic market in Europe has undergone a massive technological development owing to the usage of new ingredients in the production process of the cosmetic products market. Among the European cosmetic products market, Germany is estimated to retain its dominance throughout the forecast period of 2019 to 2024. However, the Asia-Pacific region is projected to expand at the highest growth rate during the review period. Increasing population in the emerging economies in the Asia-Pacific region such as India, China, Indonesia along with rising per capita disposable income among the consumers is anticipated to be the significant factors for the increasing growth of cosmetics products market in Asia-Pacific region.
Global Cosmetic Market, by Product Type
Global Cosmetic Market, by Category
Global Cosmetic Market, by Distribution Channel
Global Cosmetic Market, by Region
Frequently Asked Questions (FAQ) :
Cosmetics market can rise at 5.75% CAGR by 2027.
By 2027, the cosmetics market can worth USD 365.27 Bn.
Shiseido Co. Ltd. (Japan), Avon Products Inc. (UK), and Kao Corporation (Japan) are some well-established cosmetics market players.
Rise in consumer awareness to support cosmetics market.
APAC cosmetics market revenue to rise at considerable pace in the review period.