New York, NY, June 22, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Cosmetic Products Market by Product (Skincare products, Haircare products, Color Cosmetics, Fragrances, Personal care products, and Oral care products), by Form (Solutions, Creams, Lotions, Ointments, Suspensions, Tablets, Powders, Gels, Sticks, and Aerosols), by Application (Lips, Eyes, Eyebrows, Nails, and Face), by Distribution Channel (Online, Beauty salons, Specialty stores, Direct selling, Departmental stores, Pharmacy, and Supermarkets), by Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024’’. According to the report, global cosmetic products market was valued at around USD 532 billion in 2017 and is expected to reach approximately USD 863 billion in 2024, growing at a CAGR of slightly above 7% between 2018 and 2024.
Cosmetic beauty or makeup products are chemical mixtures that are used to enhance odor or appearance of the human body. Fragrances, color and makeup cosmetics, deodorants, haircare, skin care, and sun care are certain products that are extensively available and are used by individuals. Retail stores that include specialty stores, exclusive brand outlets and supermarkets are the major distribution channels. In the current era, online channels are also gaining popularity among the customers.
Browse through 55 Tables & 46 Figures spread over 110 Pages and in-depth TOC on "Global Cosmetic Products Market Size, Share 2017: Industry Trends, Growth Analysis and Forecast, 2024”.
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Personal care and beauty product sales are on the rise and are projected to register a growth from 3.5 to 4.5% between 2015 and 2020. It is anticipated to reach USD 500 billion by 2020. The Asia Pacific accounts for a major share in the global personal care industry; increasing demand in the region is attributed to its bulging population. In the U.S, growing Hispanic population is propelling demand for luxurious personal care brands and will escalate during the forecast years.
Beauty or cosmetic products industry is one of the sectors that remained unaffected, despite the fluctuations in the economy. Cosmetic sales have maintained a certain volume throughout its overall products. The sale can be attributed to increasing and consistent usage of products, especially by men and women. Personal care companies are making their products available online at competitive prices. The internet has an impact on every business category be it deodorant or shaving products. Customers are willing to purchase the goods that can come directly to them through online retailing.
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Numerous customers are concerned about environmental impact of the goods they utilize. Thus, manufacturers are luring their potential consumers by advertising their products as organic and sustainable. These characteristics are even highlighted on products labels and are increasing their brand popularity. Furthermore, an ethical component of the industry involves customer’s concerns about the products testing on animals. Manufacturers are taking care of all these factors for promoting their products and avail the benefits of such lucrative industry.
Global cosmetic products market is categorized as skin care products, hair care products, color cosmetics, fragrances, personal care products, and oral care products. Skincare product is anticipated to dominate the global cosmetic products market during the forecast period owing to its multiple variants such as makeup remover, depilatories, hand care, and facial care. Based on form, global cosmetic products market is classified into solutions, creams, lotions, ointments, suspensions, tablets, powders, gels, sticks, and aerosols. Gels are projected to witness maximum gains over the forecast timeframe owing to rising adoption of the product in youngsters for hair gel and face wash.
Browse the full "Cosmetic Products Market by Product (Skincare products, Haircare products, Color Cosmetics, Fragrances, Personal care products, and Oral care products), by Form (Solutions, Creams, Lotions, Ointments, Suspensions, Tablets, Powders, Gels, Sticks, and Aerosols), by Application (Lips, Eyes, Eyebrows, Nails, and Face), by Distribution Channel (Online, Beauty salons, Specialty stores, Direct selling, Departmental stores, Pharmacy, and Supermarkets), by Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024" report at https://www.zionmarketresearch.com/report/cosmetic-products-market
The Asia Pacific will account for a significant share in global cosmetic products market till 2024. Asian countries represent some of the most potential and largest markets for exports of the U.S. cosmetics and personal care products. In 2016, Asia contributed above 20% of the U.S. global exports of cosmetics. The region offers more than 3 billion potential customers to the global cosmetic market. This consumer base includes customers in well-established markets such as South Korea, Australia, and Japan for U.S. products, together accounting for above USD 1 billion in the U.S. cosmetics exports of 2015. China’s contribution in this was nearly USD 500 to 600 million. China is projected to become the biggest global cosmetics market till 2019.
In 2015, Australia’s cosmetics and personal care market was nearly USD 3.4 billion, with above 70% of the consumption imported. Australia’s cosmetics market has good prospects with the overall market and is expected to increase by 4% per annum in 2018. Devaluation of the Australian dollar and declining commodity prices between 2013 to 2015 has provided an opportunity for many Australian firms to enter the industry. However, rising GDP of the country in 2016 and 2017 has fueled consumer spending for both domestically produced and imported products. Australia is a competitive market that has increased consumers expectations for the introduction of innovative products.
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North America cosmetic market was anticipated to be more than USD 80 billion in 2015, with a projected growth of 4.5% CAGR during the forecast period. North America is one of the largest regions in global beauty products and color cosmetics contributing nearly 20% in 2014. It is characterized by high penetration rate, preference to spend on appearance, and high purchasing power, leading to a saturated market. Demand is driven by an increased preference for natural, organic and vegan beauty products to reduce harmful effects of dust, sun, and pollution. The U.S. is the largest organic personal care products market. Other drivers for regional demand include increasing share for ethnic products, new color palettes, and lasting power.
The Middle East and Africa will register significant gains in the global cosmetic products market during the forecast years. The growth of the region is attributed to the presence of significant countries such as Israel, Saudi Arabia, and UAE. 21% of the population in the region is spending between USD 98.56 to 199.29 on beauty and health products. This cost includes expenses on maintaining their nails and hairs, massages, and hair removals. 6.2% of the population spends between USD 198 to 306 for keeping themselves appealing. UAE had a high GDP per capita of nearly USD 40,444 in 2012 with a modern administration. And it will witness further growth with regards to working women in the country. With more women’s joining workplace, they have become cautious about their looks, leading to the increased sale of cosmetics. Moreover, increase in the number of tourists has propelled cosmetic sales in the region.
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Major players in the global cosmetic products market are Alticor, Oriflame Cosmetics Global SA, Yves Rocher, Mary Kay Inc., Revlon Inc., Kao Corp., Shiseido, The Estee Lauder Companies Inc., Avon Products Inc., Beiersdorf AG, Procter & Gamble, Unilever and L’oreal Group. Manufacturers are investing heavily in research and development activities to launch new products in the market as per the consumer's demand.
The report segments global cosmetic products market as follows:
Cosmetic Products Market: Product Segment Analysis
- Skin care products
- Hair care products
- Color cosmetics
- Fragrances
- Personal care products
- Oral care products
Cosmetic Products Market: Form Segment Analysis
- Solutions
- Creams
- Lotions
- Ointments
- Suspensions
- Tablets
- Powders
- Gels
- Sticks
- Aerosols
Cosmetic Products Market: Application Segment Analysis
- Lips
- Eyes
- Eyebrows
- Nails
- Face
Cosmetic Products Market: Distribution Channel Segment Analysis
- Online
- Beauty salons
- Specialty stores
- Direct selling
- Departmental stores
- Pharmacy
- Supermarkets
Cosmetic Products Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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