360 MARKET UPDATES Report provides a 360-degree overview of the global Cosmetics Products Market with special emphasis on all aspects including drivers, restraints, and opportunities, market and regional segmentation.
Report Title: “Global Cosmetics Products Market – Segmented by Product Type, Distribution Channel (Direct selling, Supermarkets, Specialty stores), and Region – Growth, Trends and Forecasts (2018 – 2023)”
Global “Cosmetics Products Market” is expected to register a CAGR of approximately 7.14% during the forecast period of (2018 – 2023). Also, Cosmetics Products Market report provides the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Cosmetics Products Analysis.
Cosmetics Products market Report provides a 360-degree overview of the global Cosmetics Products market with special emphasis on all aspects including drivers, restraints, and opportunities, market and regional segmentation.
Cosmetics Products Market Report Covers Leading Manufacturers: LOreal Group, Procter & Gamble, Beiersdorf AG, Avon Products Inc., Unilever, The EstÃ©e Lauder Companies Inc., Shiseido, Kao Corp., Revlon, Inc., Mary Kay, Inc., Yves Rocher, Oriflame Cosmetics Global SA, Alticor
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The global cosmetic products market was valued at USD 532.43 billion in 2017, and is expected to reach a market value of USD 805.61 billion by 2023, registering a CAGR of 7.14% during 2018-2023. The scope of the report is limited to various products, like hair care, skin care, oral care, color cosmetic, fragrances, soaps and shower gels, and sun care products. The study also emphasizes on various distribution channels, such as direct selling, supermarkets, specialty stores, pharmacies, and salons.
The cosmetics or beauty products industry, globally, is one sector which remains impervious to the ups and downs. Overall sales are affected in the event of an economic downturn. However, one can count on the sales of cosmetics to maintain a certain volume overall. This is because of continuing and growing usage of products by women, and increasingly by men across the world.
Aging Population is the Major Driver for the Market
Over the past two decades, declining fertility and mortality rates have resulted in a rise in the aging population, globally. Strong desire among men and women to retain youthful appearances has groomed and nurtured the cosmetics industry, worldwide. Rapidly aging demographics has led to a robust demand for anti-aging products in order to prevent wrinkles, age spots, dry skin, uneven skin tone, and even hair damages, creating room for new innovations in cosmetics, thus boosting the industry growth.
By 2050, the population over 60 years of age is expected to reach 2.09 billion. The life expectancy for women is predicted to rise from 82.8 years in 2005 to 86.3 years in 2050. Whereas for men, the expected increase for men in the corresponding period is from 78.4 to 83.6 years. Notably, the share of elderly people for cosmetic products is on rise.
E-commerce as a Distribution Channel is Expected to Grow Rapidly
Smartphone shipments increased to 1.53 billion in 2017, and is expected to grow till the end of the forecast period, thus increasing the e-commerce market. Cosmetic products, such as skin care, hair care, and fragrances are the most-sold products online. Thus, companies are increasingly focusing on online marketing campaigns that can increase their revenues with low investments. The market is witnessing a trend of multinational companies setting up websites and brand-specific Facebook accounts and Twitter profiles, in order to address the local taste. This sector is gaining prominence with the different products being available âonly on onlineâ.
Middle East & African Region is Expected to Grow with the Highest CAGR
The market is expected to gain prominence in the MEA countries, such as UAE, Saudi Arabia, and Israel. According to a recent survey, 21% of the people in this region admit to spending between AED 362 and AED 732 per month on health and beauty products, including the cost for maintaining hair and nails, and for hair removals, massages, and gym memberships, while a further 6.2% spend between AED 728 and AED 1125 to keep themselves looking appeasing.
UAE is a country with a high GDP per capita (USD 40,444 in 2012), and an administration which is modern, and yet has further growth to witness regarding women at workplace. As more women join the workplace, the need to look good, as well as purchase cosmetics has increased, and not just based on oneâs preference. Furthermore, an increased influx of tourists has boosted cosmetic sales in the country.
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Reasons to Purchase Cosmetics Products Market Report:
- Identification of key factors instrumental in changing the market scenario, exploiting new opportunities, and gaining a competitive edge.
- Analysing various perspectives of the market with the help of Porter’s five forces analysis.
- The authentication mode is likely to witness the highest adoption of these systems in the market.
- The regions that are expected to witness the fastest growth during the forecast period.
- The SWOT analysis for key players and a detailed study of their current strategic interests and key financial performance indicators.
- 3 months’ analyst support along with the Market Estimate sheet (in excel).
“We also can offer customized report to fulfill special requirements of our clients. Regional and Countries report can be provided as well.”
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