The global cosmetics market generated revenue of approximately 383.01 (USD billion) in 2020
— Prakash Torase
SUITE N202, NEW YORK, USA, October 10, 2022 /EINPresswire.com/ — According to the findings of the Zion Market Research study, cosmetics market generated revenue of approximately US$383.01 billion in 2020 and is expected to generate revenue of nearly US$473.21 billion by 2028. Additionally, the cosmetics market is expected to register a CAGR of nearly by 5.5% in 2021-2028. Furthermore, the growth of the cosmetics market over the forecast period may be due to the growing awareness of external beauty among the adult, young and aging population. In addition to this, the increasing tendency of the working population to be beautiful, lively and vigorous is expected to create new growth avenues for the cosmetics market over the assessment period. The need for light makeup for staff and working professionals to make an effective client presentation at conferences and seminars as well as symposiums will drive the cosmetics market growth over the forecast period. The increase in product branding events and the advertising of cosmetic products by celebrities as well as the increase in promotional activities of cosmetic products on social networks, newspapers, smartphones, the web, billboards and television will lead to an increase in market revenue over the coming years. Product innovations and demand for organic or natural cosmetic products will provide impetus for the growth of the cosmetics industry over the forecast period.
The skin care products segment will dominate the product landscape by 2028
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The growth of the skin care products segment over the forecast period can be attributed to the growing popularity of skin care products among young people, adults and the elderly. Rising beauty awareness among people will drive the demand for skin care products in the coming years.
Supermarket segment will mainly count in the global market size over the period 202-2028
The segmental growth over the forecasted period is expected to be driven by the easy availability of cosmetic products in supermarkets. Rising urbanization, increase in supermarket footfall by the working population, and new deals and discounts offered by supermarkets on cosmetic products are expected to prove beneficial for the growth of the segment in the coming years. Competitive prices have also increased the popularity of supermarkets or hypermarkets in emerging economies as well as in developed countries.
Global cosmetics market
Asia-Pacific Cosmetics Market to Register Highest CAGR 2021-2028
The marked growth of the regional market can be attributed to technological breakthroughs, economic development, increasing consumer purchasing power and changing fashion trends in the subcontinent. Rising urban population, beauty consciousness among youth, and awareness for personal appearance enhancement are expected to define the growth of the cosmetics market in Asia-Pacific.
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Key players taking advantage of the cosmetics market growth and included in the report are The Procter & Gamble Company, Alticor, Revlon Inc., Avon Products Inc., Oriflame Holding AG, Beiersdorf AG, Yves Rocher, Shiseido Company, Limited , Kao Corp., The Estee Lauder Companies Inc., Unilever PLC, Mary Kay Inc. and L’Oréal SA
Browse the complete “Cosmetic Products Market” – by product (skin care products, hair care products, color cosmetics, perfumes, personal care products and oral care products), by form (solutions, creams , lotions, ointments, suspensions, tablets, powders, gels, sticks and sprays), by application (lips, eyes, eyebrows, nails and face), by distribution channel (online, beauty salons, specialty stores, direct sales, department stores, pharmacy and supermarkets), by region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) – Global Industry Perspective, Comprehensive Analysis and Forecast, 2021 – 2028.”
Cosmetics market: growth driver
The growth of the cosmetics market against the predicted schedule is driven by technological breakthroughs in the manufacturing of cosmetics and increasing per capita income of consumers. In addition to this, changing lifestyles and changing fashion trends are expected to create new growth avenues for the cosmetics industry. The inception of new product launches and the entry of new players in the cosmetics industry will drive the expansion of the market. The surge in web penetration across the globe has given impetus to the growth of the cosmetics market. However, wide use of colored lip and eye cosmetics can cause skin disorders and health risks. Apparently, side effects due to cosmetic use may hamper the growth of the cosmetics industry.
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The rest of Europe
South East Asia
Rest of Asia-Pacific
Rest of Latin America
Middle East and Africa
Rest of the Middle East and Africa
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