Globally the cosmetic products market share as skin protector and beauty enhancers is estimated to escalate at a higher growth rate which is supported by the rising fashion sense amongst the population. The high demand for unique beauty products are supporting the sale of various newly launched cosmetic products in the market. Developing economy of various regions are fueling up the market demand for cosmetic products.

All these factors contribute to the calculated CAGR of 5.4% of cosmetic products market during 2017-2023.

The increasing sale of cosmetic products is driven by its high application across the beauty and fashion sectors. Cosmetic products are used to enhance the personal beauty as well as protecting the skin against external damage. Increasing fashion awareness and self-consciousness amongst the female population in developed regions has led to the innovation in fashion sector leading to the increased sale of cosmetic products globally. Increasing disposable income due to economic developments has influenced the positive growth rate of the market. The production of cosmetic products is found to be high in North America and is evaluated to increase at a positive growth rate in various countries of Asia-Pacific and Europe region.

Global Cosmetic Products market is segmented by Type, Product-Category, Distribution Channel and Region.

Demand of skin care cosmetic products is growing at significant rate followed by makeup and color cosmetics. This is backed up by the high consumer’s preference towards personal skin care products enhancing their appearances.

The demand for natural cosmetic products is supporting the sale of herbal cosmetic products as they tend to be harmless to the skin and have no or less side effects. With the rise in animal care awareness and protests against their slaughter for personal use is fueling up the demand for cruelty-free cosmetics on a global level. The busy life-style in today’s scenario and advancement in technology has increased the sale of cosmetic products through E-commerce channels. 

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The major key players in cosmetic products market are

L'Oréal S.A. (France)

Avon Products, Inc (U.S.)

The Estée Lauder Companies Inc. (U.S.)

Oriflame Holding AG (Switzerland)

Beiersdorf AG (Germany)

Kao Corporation (Japan)

Unilever (U.K.)

Procter & Gamble Co. (U.S.)

Cosmetic products manufacturers across various regions follow the strategy of improving their existing product line by adding innovations to their products to expand their business. This is one of the major factors due to which the demand of cosmetic products is experiencing a surge. In the North America region, U.S. is amongst the dominating countries holding a major share in cosmetic products market and exports the product in various other countries which include China, Canada, Mexico, Australia, Netherlands and others.

The Global Cosmetic Products Market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). North America region holds a major market share followed by Europe. The high demands for cosmetic products from the developed countries of these regions is contributing to the positive growth of Cosmetic Products market. Economic development and changing fashion trends is driving the cosmetic products market. U.S., China, Hong Kong, U.K. and Germany are the major importers of cosmetic products.

The Cosmetic Products Market is estimated to grow with the increasing demand for skin care products, color cosmetics, hair care products, and other such cosmetics.

The changing fashion trends, rising standards of living, and globalization of the cosmetic industry are driving the cosmetic products market. The leading companies in the market are involved in technological advancements and innovations to develop new products.

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The cosmetic products market is segmented on the basis of type, distribution channel, and geography. On the basis of type, it includes skin care products, hair care products, fragrances & deodorants, color cosmetics, personal hygiene products, oral hygiene products, bath & shower products, soaps, sun care products, and others. The market segmentation on the basis of distribution channel includes supermarkets, department stores, specialty stores, beauty salons, pharmacy & drug stores, Internet retailing, and others. The geographic segmentation of the market includes North America, Asia-Pacific, Europe, and Rest of the World (ROW).

The cosmetic products market is projected to grow at a CAGR of 6.3% with Europe as the largest market. It is expected to grow at a higher pace with increase in the disposable income of consumers in emerging markets. The Asia-Pacific region is projected to be the fastest growing market due to the increasing demand for color cosmetics, skin care, and hair care products here.

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The leading players in this market include Procter & Gamble Co. (U.S.), the L’Oreal Group (France), The Estée Lauder Companies, Inc. (U.S.), and Unilever PLC. (U.K.). It also includes players such as Shiseido Company Ltd. (Japan), Avon Products Inc. (U.S.), and others.

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The cosmetic products are generally mixtures of chemical compounds as some being synthetics and some being derived from natural sources used to enhance the appearance or odor of the human body. Growing economies, changing lifestyles, rising demands of personal care products due to varying climatic conditions encourages the growth of cosmetic market worldwide. Shifting consumer preference towards natural and organic beauty products, especially in developed countries, fosters the growth of the cosmetics market. Moreover, the rising demand for natural, herbal and organic beauty products creates potential opportunities for key players to innovate and develop new products in accordance to consumer preferences. Continuous rise in GDP has improved the economies of developing countries and has raised the spending capabilities of individuals which in turn, are positively influencing the growth of global cosmetic product market. Rising demands for herbal cosmetics is prompting the manufacturers to focus on developing new products with the usage of organic ingredients in cosmetic products. Furthermore, factors such as low consumption of chemical such as aluminum salts, phthalates, parabens and growing need to provide sustainable products has largely contributed in driving cosmetics market demand. The growth is primarily attributed to high R&D developments results to the introduction of advanced and innovative products with creative packaging. Manufacturers are focusing on producing multifunctional cosmetic products and sachets to further enhance their global presence over the forecast period.

Skin Care Cosmetic Product- Largest Shareholder Segment of Global Cosmetic Product Market.

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The skin care segment is dominating global cosmetic products market during the forecast period owing to its multiple variants such as makeup remover, depilatories, hand care, and facial care. This category is one of the most technically advanced, complex and diverse categories of cosmetic market. Skin products manufactured by the manufacturers have to undergo many dermatological tests before its introduction in the market. With the advancement in technology product manufacturers are using new technologies such as nano-gold and nano-some technology or nano-particles for manufacturing skin care products. Moreover, rising demands for herbal personal products is prompting the leading manufacturers to launch new herbal cosmetic products. For instance, In March 2015, Unilever acquired REN Skin care; the acquisition helps Unilever to increase its customer base for skin care segment.

E-Commerce Distribution Channel Is Expected To Grow Rapidly Over the Anticipated Period

Online Stores is expected to be the fastest growing channel in the global market over the forecast period owing to the upsurge of digitalization & several e-commerce websites. It has a huge role in the success of vendors as it directly impacts the demand & supply in the market & hence the revenue. With the rising penetration of internet & e-commerce across the globe, the presence of cosmetic companies has increased. The perks of e-commerce have not only benefitted the manufacturers but also the consumers in terms of pricing & availability of a vast range of products. Digitalization or social media helps vendors reach out to consumers and helps generate awareness related to the products and attract new potential customers, which further fuel the demand for the cosmetic product over the forecast period.

Recent Key Developments in the Global Cosmetic Products Market

• January 2018 – L’Oreal Paris unveiled a new hair care line to revive damaged hair, Elvive.
• September 2017 – Unilever acquired the Asian cosmetics firm Carver Korea.
• September 2017 – Procter & Gamble unveiled a USD 3 million quality control laboratory, Pines External Lab located in Berkeley Springs, launched in joint partnership with Morgan County and Blue Ridge Community & Technical College.

Don’t miss the business opportunity of cosmetic Product Market. Consult to our analyst and gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides the growth potential, upcoming trends and statistics of Global cosmetic Product Market size & forecast. The report promises to provide state-of-the-art technology of cosmetic Product production and industry insights which help decision makers to take sound strategic decisions. Furthermore, the report also analyzes the market drivers and challenges and competitive analysis of the market.

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