The skin care and sun care segment dominated the global market in 2019 and is expected to maintain its dominance throughout the cosmetics market forecast period.
PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, USA, Sept. 15, 2022 /EINPresswire.com/ — According to a new report released by Allied Market Research, titled “The Cosmetics Market by Category, Gender and Distribution channel: opportunity analysis and industry forecast, 2021-2027”, the global cosmetics market size was valued at USD 380.2 billion in 2019 and is projected to reach USD 463.5 billion by 2027, recording a CAGR of 5.3% from 2021 to 2027. Convergence of advancements, beauty and lifestyle propel cosmetics market growth. Additionally, the cosmetics market across the globe has witnessed continuous and sustained growth over the years, owing to the increase in the beauty-conscious female population. Several other factors such as increase in female workforce, increased awareness of maintaining prolonged beauty, and change in lifestyle have contributed significantly to the growth of cosmetics market trends.
Request Free Sample PDF of this Report:- https://www.alliedmarketresearch.com/request-sample/651
Also, the demand for herbal and natural cosmetics is expected to increase at a substantial rate during the forecast period. Furthermore, brands such as Himalaya Drug Company, Patanjali Ayurved Limited and Hindustan Unilever Limited indulge in the production of herbal and natural cosmetics. Hence, the increased awareness of fashion and natural skin products is significantly propelling the growth of the cosmetics market.
Global per capita income has experienced strong growth in recent years, particularly in emerging economies. Increasing urbanization, growing middle-class consumers, and increasing female labor force participation rates in many developing and developed markets have encouraged the adoption of lifestyles convenience-oriented, making cosmetics more desirable. According to estimates, per capita income over the next decade is expected to increase at a significant rate in developing countries compared to developed countries. This has important implications for the growth of the cosmetics market.
A wide range of cosmetic products are available in the market to deeply nourish the skin, such as lotions, creams, deodorants, hair care and essential oils. Additionally, awareness of personal wellness and appearance has increased among men, which is driving sales of cosmetics. Moreover, due to hectic lifestyle and changeable weather conditions, men are also adopting skin care, sunscreen and hair care products. Thus, cosmetic products help to treat and prevent dry and dull skin, which is driving their demand globally.
Additionally, due to the outbreak of the COVID-19 pandemic, manufacturers have increased social media advertising for the use of herbal skin care products to reach a broad base of consumers. consumers. However, the implementation of lockdown and curfew practices globally has affected the domestic and international production of skincare products, which in turn is hampering the growth of the overall market. Thus, the COVID-19 outbreak negatively impacted the cosmetics market in 2020 as company sales declined and operations were halted.
LIMITED TIME OFFER – Buy Now & Get Exclusive Discount On This Report:- https://www.alliedmarketresearch.com/checkout-final/aab08ea5946bde3172e3f83cf045da78
Over the next five years, the demand for natural cosmetics is expected to grow strongly. Customers prefer to use cosmetics that are less harmful and have minimal side effects. Moreover, manufacturers are likely to use natural ingredients in their skin care and hair care products to meet consumer needs. Many big players in the market such as L’Oreal, Unilever, Color Bar and Avon plan to invest big budgets in order to promote the natural aspects of their cosmetic products.
Main results of the study
By category, the skin care and sun care segment dominated the global market in 2019 and is expected to maintain its dominance throughout the cosmetics market forecast period.
By gender, the female segment dominated the global cosmetics market demand in 2019 and is expected to maintain its dominance throughout the forecast period.
By distribution channel, the hypermarket/supermarket segment dominated the global market in 2019 and is expected to maintain its dominance throughout the forecast period.
By region, Asia-Pacific accounted for the highest cosmetics market share in 2019 and is expected to grow at a CAGR of 6.5%.
Key players profiled in the cosmetics industry report include Avon Products Inc., Kao Corporation, L’Oreal SA, Oriflame Cosmetics SA, Revlon, Inc., Shiseido Company Limited, Skin Food Co., Ltd., The Estee Lauder Companies Inc., The Procter & Gamble Company and Unilever Plc.
𝗥𝗲𝗾𝘂𝗲𝘀𝘁 :- https://www.alliedmarketresearch.com/request-for-customization/651
The research provides answers to the following key questions:
1️⃣ What is the estimated market growth rate for the forecast period 2021-2027?
2️⃣ How big will the market be during the estimated period?
3️⃣ What are the key drivers responsible for shaping the fate of the Cosmetics market during the forecast period?
4️⃣ Who are the major vendors in the market and what are the winning strategies that have helped them gain a strong foothold in the cosmetics market?
5️⃣ What are the major market trends influencing the development of the cosmetics market across different regions?
6️⃣ What are the major threats and issues likely to hinder the growth of the cosmetics market?
7️⃣ What are the key opportunities that market leaders can leverage to gain success and profitability?
Check out our related reports:-
Beard Oil Market https://www.alliedmarketresearch.com/beard-oil-market-A09397
Blemish Balm Cream Market https://www.alliedmarketresearch.com/blemish-balm-cream-market-A10167
CC Cream Market https://www.alliedmarketresearch.com/cc-cream-market-A10160
Our Trend Research Report:-
Organic Personal Care and Cosmetic Products Market:- https://www.openpr.com/news/2315923/organic-personal-care-and-cosmetic-products-market-is-expected
Personal Care Wipes Market:- https://www.openpr.com/news/2317075/personal-care-wipes-market-worth-23-993-million-by-2023-rising
Allied Analytics LLP
write to us here
Visit us on social media: