The new report by Expert Market Research titled, ‘Global Cosmetics Market Price, Trends, Growth, Analysis, Outlook, Report and Forecast 2021-2026’, gives an in-depth analysis of the global cosmetics market, assessing the market based on its segments like category, gender, price range, distribution channel, and major regions like North America, Europe, Asia Pacific, Latin America, Middle East and Africa. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on the request sample report. The sample report shall be delivered to you within 24 hours.
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The key highlights of the report include:
Market Overview (2016-2026)
• Historical Market Size (2020): USD 476 billion
• Forecast CAGR (2021-2026): 6%
• Forecast Market Size (2026): USD 675 billion
The market for cosmetics has seen substantial growth due to factors such as rising consumer focus towards grooming and personal appearance. Also, increased knowledge across different industries offers an enormous market opportunity for key players in the cosmetics market. Also contributing to the growth of the industry are new product launches, rapid urbanization and increasing per capita incomes. Increasing demand for natural and organic products and attractive marketing strategies and innovative packaging styles are projected to further stimulate market growth over the forecast period. However, During the first half of 2020, the COVID-19 pandemic affected the global cosmetics industry drastically. Due to the lack of labour, various manufacturers had to shut down their production units. In addition, due to the large debts and inefficiency of operating during the pandemic, many cosmetic stores were also forced to shut down. During the same period, the European cosmetics industry also experienced a downturn. The COVID-19 pandemic hit the Asia Pacific region hard. However, with the crisis causing enormous damage to different brands, consumer attitudes and behaviours have changed, and trends such as the use of e-commerce and the use of DIY kits for nail care and hair coloring, among others, are likely to increase.
Industry Definition and Major Segments
Beauty products used for skin or body care or to accentuate the appearance of the human body are cosmetics. These refer to several products, such as skincare and hair care, which are mainly available in different categories. A few types of cosmetics available on the market are deodorants and body lotions.
Read Full Report with Table of Contents – https://www.expertmarketresearch.com/reports/cosmetics-market
Based on the category, the industry is divided into:
• Hair Care
• Skin and Sun Care
• Makeup and Colour Cosmetics
• Fragrances & Deodorants
Based on the gender, the industry is divided into:
• Men
• Women
Based on the price range, the industry is divided into:
• Mass
• Mid-Premium
• Premium
Based on the distribution channel, the industry is divided into:
• Supermarket & Hypermarket
• Convenience Stores
• Online
The regional markets for cosmetics include:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Market Trends
Geographically, owing to the introduction of varieties of goods and massive technological growth, Europe accounted for a large share in the industry. Different factors, such as the growing use of anti-aging cosmetics and the increasing demand for premium and clean branded products in the region, have guided the growth of the cosmetics industry in Europe. The e-commerce segment is expected to experience robust growth over the forecast period based on the distribution channel. The growth can be attributed to the rising penetration of the internet in both urban and rural areas. Cosmetics sales from online channels have increased tremendously due to the growing customer desire to buy cosmetics online and the ease and convenience of online shopping. The online platforms allow businesses to reach a wide population and have a massive audience for their goods. The increasing focus of major players on strategizing online marketing strategies to increase their revenues has contributed significantly to the segment’s growth in recent years. The skincare segment dominates the industry based on category. It is expected that growing consumer awareness of the benefits of plant-based skin care products, which do not cause any side effects, would further fuel market growth in the coming years.
Key Market Players
The major players in the market are Unilever Plc, L’Oréal S.A., Avon Products Inc, Kao Corporation, Revlon, Inc., The Estée Lauder Companies Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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