Cosmetics Market: Industry Recent Trends and Growth Rate, Product & Application Segmentation, Key Companies and Regional Analysis By 2026
Cosmetics are products that are used to enhance the aesthetics and visual appearance of the body. The emphasis on the use of skin friendly products has come as a welcome opportunity to standout in the fragmented cosmetics market. The massive global demand for cosmetics has shaped up the structure of the market. The presence of several large scale companies and the subsequently rising investments in the R&D of skin-friendly cosmetics will bode well for the market in the coming years. Moreover, variations in product offerings have played a huge role in the growth of the market in recent years. The adoption of healthy and visually appealing lifestyle will lead to a wider adoption of cosmetics and subsequently aid the growth of the market.
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The Global Cosmetics Market Size is projected to reach USD 438.38 billion by the end of 2026. The increasing demand for clean-labelled products will bode well for the market in the coming years. According to a report published by Fortune Business Insights, titled “Cosmetics Market Size, Share & Industry Analysis, By Category (Hair Care, Skin Care, Makeup, and Others), By Gender (Men and Women), By Distribution Channel (Specialty Stores, Hypermarkets/Supermarkets, Online Channels, and Others), and Regional Forecast, 2019-2026,” the market was worth USD 297.61 billion in 2018 and will exhibit a CAGR of 5.1% during the forecast period.
The Leading Companies in the Market Include:-
• L’Oréal Professional
• Unilever
• Procter & Gamble
• Estée Lauder Inc.
• Beiersdorf AG
• Shiseido Co., Ltd.
• Coty Inc.
• Natura & Co.
• Kao Corporation
• Johnson & Johnson Services, Inc.
Increasing Number of Company Mergers and Acquisitions Will Aid Growth
The report includes several factors that have made an impact on the growth of the market in recent years. It highlights a few of the major industry developments of recent times and further discusses how these developments have influenced market growth. Among all factors, the increasing number of company mergers and acquisitions has made a huge impact. In September 2017, Unilever announced that it plans to acquire Carver Korea. The company possesses an attractive range of skin care products and is based in South Korea. Unilever’s acquisition of Carver will bode well for the global market in the foreseeable future.
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North America Currently Fast Growing Market; Increasing Investment in Product R&D Will Aid Growth
The report analyzes the ongoing cosmetics market trends across North America, South America, Asia Pacific, the Middle East and Africa, and Europe. Among these regions, North America will witness the highest growth in the coming years. The massive investments by large scale companies towards the development of organic products will aid the growth of the regional market. As of 2018, the market in North America was worth USD 82.59 billion and this value is projected to increase further in the coming years. The market in Asia Pacific will also witness considerable growth in the coming years, owing to the high population and the subsequently high demand for cosmetics and cosmetic products in several countries across this region.
A Brief Overview of the Global Cosmetics Market:-
· Cosmetics Market industry report provides pinpoints analysis of global & regional key drivers.
· Manufacturers & Stakeholders anticipate overall information about niche segments, share and size.
· Growing factors differentiating the role of these segments with revenue forecasts.
· Industry research helps in understanding the key product, sales, size, revenue, trend and future scope.
· A complete picture of the competitive scenario, dynamic growth and global opportunity analysis is depicted by this report.
SEGMENTATION:
By Category Analysis:-
· Hair Care
· Skin Care
· Makeup
· Others
By Gender:-
· Men
· Women
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Industry Developments:-
December 2018 – Avon launched a new beauty product range in Russia called ‘K beauty,’ along with a Korean manufacturer. The products include hydrogel masks and hand creams, among others, which are formulated with natural ingredients such as Cica, and Chaga mushrooms.
August 2017: L’Oréal launched its new product range, ‘Aura Botanica’ in India, which includes a variety of hair care products such as shampoo, conditioner, and oil infused with natural ingredients.
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