According to the latest report by IMARC Group, titled “Cosmetics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027.’ the global cosmetics market reached a value of US$ 357.5 Billion in 2021. Cosmetics represent the beauty preparations made by utilizing a mixture of synthetic chemical compounds and natural as well as artificial sources for improving and cleansing the skin’s overall health. These products usually include lipsticks, shampoos, soaps, perfumes, skin moisturizers, shaving creams, nail polishes, etc. In addition to this, they comprise of functional cosmetics that target specific skin concerns, such as reducing the appearance of fine lines, offering protection against ultraviolet (UV) rays, skin lightening, etc. Presently, cosmetics have become an indispensable part of the modern lifestyle.
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Global Cosmetics Market Trends:
The rising prevalence of various skin-related complications is primarily driving the cosmetics market. Additionally, the inflating per capita income levels of individuals and the growing influence of social media are propelling the demand for new, unique, and premium items, which is further catalyzing the market growth. Besides this, the increasing consumer consciousness towards maintaining personal hygiene and a youthful appearance is acting as another significant growth-inducing factor. Moreover, the widespread adoption of vegan cosmetics that are manufactured by using plant-based extracts and environmental-friendly derivatives, along with the expanding e-commerce sector, is also positively influencing the global market. Apart from this, the introduction of organic product variants, owing to the numerous adverse effects of synthetic ingredients, is anticipated to fuel the cosmetics market over the forecasted period.
Looking forward, IMARC Group expects the Cosmetics Market to reach US$ 508.3 Billion by 2027, exhibiting at a CAGR of 5.95% during 2022-2027.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Key Market Segmentation:
- Amway Corp
- Avon Products Inc.
- Beiersdorf AG
- Henkel AG & Co. KGaA
- Kao Corporation
- L’Oréal S.A.
- Oriflame Cosmetics AG
- Procter & Gamble Company
- Revlon Inc. (MacAndrews & Forbes Incorporated)
- Shiseido Company Limited
- Skinfood Co. Ltd
- The Estée Lauder Companies Inc
- Unilever plc.
Breakup by Product Type:
- Skin and Sun Care Products
- Hair Care Products
- Deodorants and Fragrances
- Makeup and Color Cosmetics
Breakup by Category:
Breakup by Gender:
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Stores
Breakup by Region:
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
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