Cosmetics Market Research Report - Global Forecast till 2028

Cosmetics Market Research Report: Information by Product Type (Skin Care, Hair Care, Nail Care, Color Cosmetics and others), Category (Conventional and Organic), Distribution Channel (Store-Based and Non-Store-Based) and Region - Forecast till 2028

ID: MRFR/CR/2290-HCR | February 2021 | Region: Global | 90 pages         

Cosmetics Market

Cosmetics Market Size is anticipated to reach USD 395.14 Billion by 2028, registering a CAGR of 5.34% during 2020-2028.

Segmentation

By Product Type Skincare Nail Care Hair Care Color Cosmetics Others
By Category Organic Conventional
By Distribution Channel Store-Based Non-Store-Based
By Region North America Europe Asia-Pacific Rest of the World

Key Players

  • The Estée Lauder Companies Inc. (US)
  • Procter & Gamble Co. (US)
  • L'oréal Group (France)
  • Shiseido Co. Ltd. (Japan)
  • Beiersdorf AG (Germany)
  • Revlon Inc. (US)
  • Kao Corporation (Japan)
  • Coty Inc. (US)
  • Avon Products Inc. (UK)
  • Amway Corporation (US)
  • Skinfood (South Korea)
  • Yves Rocher (France)
  • Oriflame Holding AG (Switzerland)
  • Unilever (UK)
  • Church & Dwight Co. Inc. (US)

Drivers

  • Increasing Number of Innovative Market Strategies That Make Cumulative Growth
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Cosmetics Market Overview


The cosmetics market will be touching around USD 395.14 Bn by 2028, believes Market Research Future (MRFR). Moreover, the worldwide market will be expanding at a rate of 5.34% between 2020 and 2028.


At present, cosmetics are some of the most sought-after products among people leading modern lifestyles. Additionally, surging consciousness regarding grooming and beauty among consumers has raised the demand for a variety of cosmetics. Not only women, cosmetics have been experiencing extensive use among men as well, which is bound to complement the market growth in the near future. In short, evolving lifestyles, and the men population emerging as notable end-users could translate to substantial business growth.


Manufacturers are focused on enhancing their product branding as well as advertising strategies to foster sales across numerous countries. Innovative tactics including new launches of products infused with natural ingredients as well as appealing packaging are increasingly being adopted by the brands for higher sales of their cosmetics. With different cosmetics becoming an important part of a person’s life, consumers, mostly women are opting for products that are easy to use and are handy while travelling or during social meetings. Additionally, surging infusion of natural ingredients in various cosmetics products that leave no adverse impact on the skin, has become a popular strategy for manufacturers. This not only enhance the brand’s revenue but propels the global market position as well.


However, presence of several chemicals present in cosmetic products can have a toxic effect on the user’s skin or any other part of the body. This lowers down the demand for a variety of cosmetic products, and can be a challenge for the leading brands in the years ahead.


But the surging propensity for organic and natural ingredients can ensure success for the worldwide market. Organic products are made without the use of any chemical compounds that can harm the skin. Cosmetic products that are plant-based, including dried fruits, henna, flower extracts, vegetables are enjoying considerable demand among consumers. These cosmetics are purely herbal and have no chemical elements, and are, therefore, noting significant demand.  This can prove to be a massive opportunity for cosmetic brands active in the global market.


COVID-19 impact on the market:


The Cosmetics Market includes many kinds of stuff, starting from skincare, eye care, hair care, and other body care products. COVID 19 impacted so many markets and as well as the cosmetic industry too. The first quarter sale of COVID 19 has been weak, and most of the stores are being closed widespread. But the industry has responded to this situation positively. 


Some of the brands switched their manufacturers to manufacture hand sanitizers and other cleaning agents. Some of them are also offering free beauty services to front-line workers. The industry's key players take initial steps to ensure that the companies survive in the best possible way. Due to the effective steps and decisions of retailers, investors, and strategic players, the Cosmetics Market growth is growing day by day.


Market Dynamics



  • Major Drivers Of The market 


So many factors arise the market growth and play a major role in the industry's success. The major reason includes increasing per capita disposable income of the consumers, Rapid urbanization, and the modern thinking and style statement. The Cosmetics Market size growth and consciousness on the external beauty and the intellectual factors also drive the market at a rapid pace. Along with the women, some men started showing interest in learning more about this industry. They also include these things in their daily lifestyle that led a growth.



  • Significant Opportunities For The Market


The market demand for cosmetic products has grown to astonishing heights. In the last years, the Cosmetic product market size under direct distribution was recorded very low compared to the expected growth. Consumers are now demanding hand sanitizer and body care products due to COVID 19 impact. The requirement for good quality cosmetic products has also increased.


After all, manufacturers are also changing their advertising strategies and product branding to accelerate overall sales growth. The Cosmetics Market size opportunity is increasing over the years due to the new product launches and the increasing demand of people. Even the manufacturers are now launching products with natural ingredients. 


The appealing packaging is also becoming the major reason of the market. Cosmetics have become an integral part of individuals' lives, especially women. The popularity of cosmetic products increases mostly, which are easy to carry while traveling and social media attending events. The best strategy the market applied is using natural products that don't impact the human skin. In this way, the Cosmetics Market growth is attracting customers and increasing their revenue.



  • Market Restraints


Similar to the market drivers, there are market restraints also which cause issues in the sale and accelerate the growth. These Cosmetics Market size restraints include the increasing use of chemicals in cosmetic products, skin disease, allergies, and a hike in price. The demand for organic products and less awareness among people also adversely impact the market.



  • Market Growth Challenges


The Cosmetics Market might face challenges in eliminating the regional boundaries to make quality products. The retailers and the investors take every possible step to reach out to the demanding consumers and companies. To get over this, the industry is now in need of more key players across different regions. With the help of key players and manufacturers, the industry is now manufacturing quality products and supplies to a demanding audience. Overall, the industry faces so many challenges, but the industry got over it with collaborative efforts.


Cumulative Growth Analysis


As per the key market players, the market has an increasing number of innovative market strategies that make cumulative growth in the upcoming future. To improve consumer awareness, the retailers and the manufacturers take initiative measures. The value of organic cosmetic products has been rising at a high pace in developed countries. The growing popularity of organic Cosmetics Market size has turned out to be a crucial factor for the cumulative growth of the cosmetic industry.


Value Chain Analysis:


The revenue generated by the Global cosmetic market was low in the previous forecast years as compared to the present year. But as the demands have grown up, the demand and value of the market are increasing, and it will reach a high peak by the end of 2028. The Cosmetics Market growth rate is also balanced and increasing with every passing day.


Segment Overview:


The cosmetic market has been segmented into different segments based on product type, category, distribution channel, and region. These segments are sub-segmented into the different factors:



  • Market distribution according to the product type


The market has been classified into skincare, nail care, hair care, color cosmetics, and others based on product types.



  • Market distribution according to the category:


Based on category, this cosmetic market has been segregated into organic and conventional categories.



  • Market distribution according to the distribution channel:


The Cosmetics Market size is sub-segmented Based on distribution channel, which includes store-based and non-store-based. The store-based distribution channel has been further segmented into supermarkets, hypermarkets, convenience stores, and others.



  • Market distribution according to the region:


The global cosmetic industry is also segregated into four regions: North America, Asia-Pacific, Europe, and the rest of the world. 


The North American cosmetic market has further been segmented into Canada, the US, and Mexico.


The Asia-Pacific region has been divided into India, Australia, China, Japan, and New Zealand, and the rest of Asia-Pacific. 


The European market has been segregated into the Middle East, South America, and Africa. It is also classified as the UK, France, Germany, Spain, Italy, and the Rest of Europe. 


Regional Market analysis:


Among all other regions, the European region accounted for a significant market portion up to 30% of the global cosmetic market in 2018. The hike in the cosmetics products market in Europe is anticipated due to several driven factors. According to the Cosmetics Market research, the major driving factors are the rising growth of cosmetic products for anti-aging.


Among the European market, Germany is also started dominating the industry. Throughout the market period 2019 to 2024, this region has been viewing the optimal growth in the Market size. 


However, the Asia-Pacific region is projected to expand at the highest growth rate during the review period. The increasing population of Asia region countries, including India, Indonesia, China, also anticipated the significant factors for the increasing growth of the cosmetics products market. The Cosmetics Market research is also distributed into the ROW. 


Key Players



  • The Estée Lauder Companies Inc. (US)

  • Procter & Gamble Co. (US)

  • L'oréal Group (France)

  • Shiseido Co. Ltd. (Japan)

  • Beiersdorf AG (Germany)

  • Revlon Inc. (US)

  • Kao Corporation (Japan)

  • Coty Inc. (US)

  • Avon Products Inc. (UK)

  • Amway Corporation (US)

  • Skinfood (South Korea)

  • Yves Rocher (France)

  • Oriflame Holding AG (Switzerland)

  • Unilever (UK)

  • Church & Dwight Co. Inc. (US)


Recent developments:


March 2022


MADARA Cosmetics, the Mārupe-based brand will be setting up a new startup project known as Selfnamed. The brand has successfully raised 350K euros for the launch of the project in the print-on-demand sector. It provides enterprises to come up with their business for natural and organic cosmetic products.


Report Overview



  • Market overview highlights 

  • Analysis based upon COVID 19

  • Explanation upon the Market Dynamics

  • Value chain analysis of Cosmetic market

  • Market segmentation overview

  • The regional analysis of the market

  • Key players analysis

  • Recent Developments of the market.


The Cosmetics Market research defines the overall market value and the chances of market growth in the upcoming periods.



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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.