Rising trend in countries such as China, India and Japan; Cosmetics Market to Achieve 5.3% CAGR During 2021–2027

originally published at Beauty - Nu Woman Magazine

Cosmetics Market

Manufacturers are changing their product branding and advertising strategies to accelerate their sales across various countries

PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220U, UNITED STATE, April 1, 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 by 2027, registering a CAGR of 5.3% from 2021 to 2027.

Growth of the cosmetics market trends :-

Convergence of advancements, beauty, and lifestyle propels growth of the cosmetics market. Moreover, the cosmetics market across the globe has witnessed continuous and sustained growth over years, owing to rise in beauty-conscious female population. Several other factors such as increase in female labor force, rise in awareness regarding maintaining prolonged beauty, and change in lifestyle have significantly contributed toward growth of the cosmetics market trends.

Rise in awareness regarding fashion and natural skin products significantly propel the cosmetics market growth :-

Furthermore, demand for herbal and natural cosmetics products is anticipated to increase at a substantial rate during the forecast period. In addition, brands such as the Himalaya Drug Company, Patanjali Ayurved Limited, and Hindustan Unilever Limited are indulged in producing herbal and natural cosmetics products. Global per capita income has witnessed a strong growth rate over past few years, particularly in emerging economies. Increase in urbanization, growth of middle class consumers, and surge in rate of female participation in labor force in many developing and developed markets has encouraged adoption of convenience-oriented lifestyles, making cosmetics products more desirable. According to estimates, per capita income in the next decade is expected to increase at a significant rate in developing countries compared to developed countries. This has significant implications for growth of the cosmetics market.

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Demand boosts globally :-

A wide range of cosmetics products are available in the market for deeply nourishing skin such as lotions, creams, deodorants, hair care, and essential oils. In addition, rise in consciousness about personal well-being and appearance has increased among men, which drives sales of cosmetics products. Moreover, owing to hectic lifestyle and varying climatic conditions, men are also adopting skin care, sun care, and hair care products. Thus, cosmetics products help in treating and provides prevention from rack and dry & dull skin, which boosts their demand globally.

COVID-19 pandemic outbreak :-

Moreover, owing to the outbreak of the COVID-19 pandemic, manufacturers have increased social media advertisement for using herbal skin care products to reach a large consumer base. However, implementation of lockdown and curfew practices globally has affected domestic as well as international production of skin care products, which, in turn, hampers growth of the overall market. Thus, the outbreak of COVID-19 has negatively impacted the cosmetics market in 2020, as sales of companies have reduced and operations have been halted.

Over the next five years, demand for natural cosmetics is expected to grow strongly. Customers prefer to use cosmetic products that are less harmful and have minimum side effects. Further, manufacturers are likely to use natural ingredients in their skin care and hair care products to satisfy consumer needs. Many big players in the market such as L’Oréal, Unilever, Color Bar, and Avon are planning to invest big budgets in an effort to promote natural aspects of their cosmetics products.

Key Findings Of The Study

By category, the skin and sun care segment dominated the global market in 2019, and is expected to retain its dominance throughout the cosmetics market forecast period.
By gender, the women segment led the global cosmetics market demand in 2019, and is expected to retain its dominance throughout the forecast period.
By distribution channel, the hypermarket/supermarket segment dominated the global market in 2019, and is expected to retain its dominance throughout the forecast period.
By region, Asia-Pacific accounted for highest cosmetics market share in 2019, and is expected to grow at a CAGR of 6.5%.

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Key Market Players

AVON PRODUCTS, INC
KAO CORPORATION
L’ORÉAL S.A.
ORIFLAME COSMETICS S.A.
REVLON, INC.
SHISEIDO COMPANY, LIMITED
SKIN FOOD CO., LTD.
THE ESTEE LAUDER COMPANIES INC
THE PROCTER& GAMBLE COMPANY
UNILEVER PLC

Key Market Segments of cosmetics market

By Distribution Channel
Hypermarkets/Supermarkets
Specialty Stores
Pharmacies
Online sales channels
Other

By Gender
Men
Women
Unisex
By Region
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Russia
Italy
Spain

Rest of Europe
Asia-Pacific
China
Japan
India
Australia and New Zealand
South Korea
ASEAN

Rest of Asia-pacific
LAMEA
Brazil
South Africa
Turkey
Saudi Arabia
Rest of LAMEA

BY CATEGORY
Skin & sun care products
Hair care products
Deodorants & fragrances
Makeup & color cosmetics

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Similar Report :-
Personal Care Wipes Market https://www.alliedmarketresearch.com/personal-care-wipes-market
Essential Oil Soap Market

David Correa
Allied Analytics LLP
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Article originally published at https://www.einpresswire.com/article/567200140/rising-trend-in-countries-such-as-china-india-and-japan-cosmetics-market-to-achieve-5-3-cagr-during-2021-2027

Cosmetics Market Manufacturers are changing their product branding and advertising strategies to accelerate their sales across various countries PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220U, UNITED STATE, April 1, 2022 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “cosmetics market by category, gender and distribution channel: opportunity analysis […]