Premium Cosmetics Market Demand Is Likely To Continue In Future

Premium cosmetics are a category of products used to change or improve the look of the face, or the texture or fragrance of the body. Premium cosmetics are usually combinations of chemical compounds that come from natural sources; they may also be artificial, synthetic, or halal.

The global premium cosmetic market is driven by various factors such as increasing availability of customized products, their ease of use, lifestyle changes, and growing number of beauty shops which are estimated to increase the demand for premium cosmetics during the forecast period. Moreover, rising awareness about premium ingredients and their positive impact on the skin is moving consumer choice from mass or traditionally produced cosmetics to premium cosmetics.
Rising use of personal care and beauty products by the younger generation for visual appeal, and individuals checking and purchasing products online while on the move due to smartphones and rising Internet penetration is projected to be an opportunity to boost the premium cosmetics market during the forecast period.

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In terms of geography, the global premium cosmetics market can be divided into five regions North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA)
North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the premium cosmetics market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the premium cosmetics market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The South America premium cosmetics market is segmented into Brazil, and Rest of South America.
Europe captured the largest market share due to awareness about personal care, presence of well-established players, and preference for online shopping.
The premium cosmetics market in Asia Pacific is projected to expand rapidly during the forecast period. The growth is mainly driven by a rising women oriented workforce, emerging economies, and increasing disposable income of the middle-class population. Japan and China are seeing high demand for premium cosmetics within the region.

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