ID: MRFR/CR/3024-HCR | February 2021 | Region: Global | 110 pages
Global Premium Cosmetics Market is expected to register a growth rate of 3.9% during the forecast period. The market is expected to garner a value of approximately USD 16.8 billion by the end of 2024. Premium cosmetics are witnessing growth in the market due to altering fashion trends. Consumers are more conscious about the appearance, and also due to the influence of social media, an increase in sales of premium cosmetics can be witnessed. In addition to that, increasing skin-related concerns among the consumers have led to consumers opting for better quality and reliable products. Thus, these factors are expected to boost the growth of the market of premium cosmetics. Various brands in the market are focusing on their research and development activities to launch a new and innovative type of premium cosmetics covering all the consumer needs and concerns. This attracts more consumers to invest in such products as they are of better quality and also help in dealing with their skin concerns. Also, altering changes in growing beauty industries is leading to a rise in demand for innovative products. Thus, these factors are expected to boost the premium cosmetics market growth during the forecast period.
The global premium cosmetics market segmentation has been classified as product type, distribution channel, and region. By product type, the global premium cosmetics market has been categorized as face products foundation, face powder, contouring products, and others, eyes products eyeshadow, mascara, eyeliners, and others, lip products lipsticks, lip balm, and others. The face products segment is expected to hold the majority market share, and the same segment is projected to register the highest CAGR during the review period according to the MRFR analysis. The global premium cosmetics market has been categorized, on the basis of the distribution channel, as store-based and non-store-based. The store-based segment has further been divided into supermarkets and hypermarkets, specialty stores, and others. The store-based segment is expected to account for the larger revenue share of the market. However, the non-store-based segment is expected to exhibit a higher growth rate during the forecast period of 2019 to 2024. The global premium cosmetics market has been studied for four regions—North America, Europe, Asia-Pacific, and the rest of the world. The North American premium cosmetics market has further been segmented into the US, Canada, and Mexico. The European premium cosmetics market has been classified as the UK, Germany, France, Italy, Spain, and the rest of Europe. The premium cosmetics market in Asia-Pacific has been divided into China, India, Japan, Australia, and New Zealand, and the rest of Asia-Pacific. The premium cosmetics market in the rest of the world has been segmented into South America, the Middle East, and Africa.
L'Oréal S.A. (France), The Estée Lauder Companies Inc. (US), Shiseido Company (Japan), Christian Dior SE (France), Chanel SAS (France), Charlotte Tilbury Beauty Inc. (UK), LVMH Moët Hennessy - Louis Vuitton (France), Huda Beauty FZ-LLC (UAE), Stila Styles, LLC (US), Kosé Corporation (Japan), Anastasia Beverly Hills Inc. (US), King Kylie, LLC (US), Bare Escentuals, Inc. (US), Maesa Ecommerce Inc (US), and The Unilever Group (UK) are the key players in the global premium cosmetics market.
Global Premium Cosmetics Market Share (%), by Region, 2018
Source: Secondary Sources and MRFR Analysis
Regional Market Summary
The North American market is expected to account for the largest revenue share of the global premium cosmetics market during the research period due to the growing beauty and personal care industry which is subsequently leading to the rise in the purchase of premium cosmetics in the region. However, the premium cosmetics market in Asia-Pacific is expected to register the highest CAGR during the forecast period due to increasing skin concerns, encouraging consumers to opt for premium products. Moreover, the launch of an innovative variety of premium cosmetics for different purposes and concerns in the region is boosting the premium cosmetics market growth.
Global Premium Cosmetics Market, by Product Type
Frequently Asked Questions (FAQ) :
Premium cosmetics market is projected to grow at a 3.9% CAGR between 2020-2027.
North America is expected to dominate the premium cosmetics products market.
Premium cosmetics market is predicted to touch USD 16.8 billion by 2024.
Face products will lead the premium cosmetics market.
Altering fashion trends and rising skin-related concerns are the key factors driving the premium cosmetics market.