Increase in aggressive advertisements and promotions through social media platforms by manufacturers plays a crucial role in the growth of the market
POTLAND, 5933 NE WIN SIVERS DRIVE, #205, USA, July 22, 2022 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled “cosmetics market By Category, Gender and Distribution Channel: Opportunity Analysis and Industry Forecast, 2021-2027,” the global cosmetics market size was valued at $380.2 billion in 2019 and is projected to reach $463.5 billion. dollars by 2027, registering a CAGR of 5.3% from 2021 to 2027.
Global Industry Trends, Demand and Growth Analysis to 2021-2027:-
The convergence of advancements, beauty and lifestyle is propelling the growth of the cosmetics market. 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.
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.
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Cosmetics Market Grows with Industry Strategies and Demand 2021-2027
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.
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Outbreak of the COVID-19 pandemic
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.
Major Players Profiled in the Cosmetics Industry Report Include:-
AVON PRODUCTS, INC.
ORIFLAME COSMETICS SA
SHISEIDO COMPANY, LIMITED
FOOD SKIN CO., LTD.
ESTEE LAUDER COMPANIES INC
THE PROCTER & GAMBLE COMPANY
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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%.
TABLE OF CONTENTS :-
CHAPTER 1 INTRODUCTION
1.1.Description of the report
1.2. Main benefits for stakeholders
1.3.Key market segment
1.4.3.Analysis tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Main results of the study
2.1.1. Main impact factors
2.1.2. Main pockets of investment
2.1.3.Parent market analysis
2.2. Positioning of the best player
CHAPTER 3: MARKET OVERVIEW
3.1. Definition and scope of the market
3.2. Porter’s Five Forces Analysis
3.3. Market dynamics
126.96.36.199.Increasing need for skin care products
188.8.131.52.Increasing demand for natural ingredients in cosmetic products
184.108.40.206.Evolving packaging styles and attractive marketing strategies
220.127.116.11. Increase in disposable income
18.104.22.168. Increased awareness of the side effects of chemical-based cosmetics
22.214.171.124. Growth in demand for organic cosmetics
126.96.36.199.Social Media Marketing
3.4. Impact of COVID-19 on the cosmetics market
Reasons to Buy this Cosmetics Market Report:
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> Suitable for providing reliable, high-quality data and analysis to facilitate your internal and external presentations.
> Develop tactical initiatives by gaining better control of the areas in which large groups can intervene.
> Increase and develop business potential and reach, develop and plan licenses and licensing strategies by finding potential partners with the most attractive projects.
> Recognize new entrants with potentially strong product portfolios and design effective counter-strategies to gain competitive advantage.
> To develop effective R&D strategies, gather information, analysis and strategic ideas from competitors
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