Summary - A new market study, titled “Beauty and Personal Care Market: Current Scenario and Forecast (2020-2026): Emphasis on Product Category (Color Cosmetics (Face, Lips, Eyes, Nails), Skin Care (Face, Body, Sun Protection, Baby & Child), Personal Care (Hair Care, Oral Care, Deodorants, Shaving), Fragrances), Source (Organic, Inorganic), Product Class (Mass, Premium), Distribution Channel (Retail Stores, Hypermarkets, Pharmacies/Drug Stores, Online Retail Channels), and Region/Country” has been featured on WiseGuyReports.
Global Beauty & Personal Care market was valued at US$ 500.8 billion in 2019 and is anticipated to reach US$ 684.9 billion by 2026 displaying CAGR growth of 4.67% over the forecast period (2020-2026). Beauty and Personal Care products are used to care for and clean the human body and make it more beautiful. The main goal of such products is to maintain the body in good condition, protect it from adverse effects of the environment and the aging process, change the appearance and make the body smell nicer. These preparations are applied for cleansing, coloring, conditioning or
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protecting skin, hair, nails, lips, eyes or teeth. Rapid aging demographics has enhanced to powerful interest against maturing items focusing on the end goal against wrinkles, dry skin, age spots, even hair harms, and uneven skin tone making space for new advancements in beautifying agents, are the main factors driving the global beauty and personal care products market. Growth in the beauty and personal care industry reached a decade high last year and is expected to continue unabated post-2019 as well, facilitated by new models of aspiration such as self-optimization and tailored experiences. Further, increasing the popularity of men’s grooming products is likely to drive the market owing to growing awareness among men regarding appearance, health, and wellness. By 2024, the global male grooming market is estimated to be worth US$ 81.2 billion. There has been a pivotal shift in male pampering culture during the last decade. Men have now started spending on a wide range of personal grooming products, such as deodorants, skin and hair care products, and bath and shower products. Also, developing inclination for natural and organic personal care (NOPC) products, expanding appropriation of Augmented Reality (AR) in the excellence business, developing need for anti-aging products, and expanding fame of men's prepping products are a portion of the key factors that are relied upon to drive the market over the conjecture time frame.
Insights Presented in the Report
“Personal care products dominated the beauty and personal care market in 2019, accounting for 43.5% share”
Based on product category, the global beauty and personal care market is fragmented into Color Cosmetics (Face care, Lip care, Eyecare, Nail care and others), Skin Care (Face care, Body care, Sun Protection, Baby & Child products), Personal Care (Hair Care, Oral Care, Deodorants, Shaving Others (Showers & Bath)), and Fragrances. These products are intended for placement in contact with any external part of the human body, with a view to altering the odors of the body; or changing its appearance or maintaining it in good condition.
“Demand for Inorganic beauty and personal care products dominated the market”
Based on the source, the global beauty and personal care market is segmented into organic and inorganic. In 2019, the inorganic product segment generated revenue of US$ 364.3 billion, however, demand for organic beauty and personal care products is expected to witness the highest CAGR growth of 5.38% during the forecast period (2020-2026). The market is anticipated to tread along a healthy growth track owing to the rising preference for natural and organic personal care (NOPC) products. There is developing mindfulness with respect to the advantages of organic makeup over the world.
“Amongst product class, mass products dominated the market with 75.2% share in 2019”
Based on product class the market is segmented into mass and premium products. Beauty and personal care market growth peaked at its highest level since the last decade. As consumers are always willing to try new products, it has been observed that consumers are satisfied with the products they currently use and are available today.
“Hypermarkets was the most preferred sales channel for purchasing beauty and personal care products”
Based on the distribution channel, the market is segmented into convenience stores, hypermarket/supermarket, pharmacies/drug stores, and online retail channels. In 2019, the Pharmacies/Drug Stores segment generated revenue of US$ 55.36 billion. However, online retail channels are poised to witness the highest CAGR growth of 5.8% during the analyzed period.
“Asia-Pacific was the largest market for beauty and personal care market, accounting for 34.9% share in 2019”
For a better understanding of the market dynamics of the beauty and personal care market, a detailed analysis was conducted for different regions/countries across the globe. Major region/county analyzed in the study includes North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Russia and Rest of Europe), Asia-Pacific (China, Japan, India, Indonesia, Thailand and Rest of Asia-Pacific), MENA (UAE, Saudi Arabia and Rest of MENA) and Rest of the World (Argentina, Brazil and Other). Asia-Pacific beauty and personal care sector is expected to generate revenue of US$ 252.3 billion by 2026.
Competitive Landscape -Top 10 Market Players
Some of the major players operating in the global beauty and personal care market include P&G, Unilever, Colgate-Palmolive, Estee Lauder, Johnson & Johnson, Coty, Shiseido, Beiersdorf, Oriflame Cosmetics SA and Revlon. These players have established their market presence over the decade in the industry with major growth strategy including product launches, market expansion, a partnership among others. The industry has also witnessed the emergence of several start-ups over the past few years, majorly in the Asia-Pacific and American regions.
Reasons to buy:
• Current and future market size from 2020 to 2026 in terms of value (US$)
• Combined analysis of deep-dive secondary research and input from primary research through Key Opinion Leaders of the industry
• Country-level details of the overall adoption of beauty and personal care products
• A quick review of overall industry performance at a glance
• In-depth analysis of key industry players
• A detailed analysis of regulatory framework, drivers, restraints, key trends and opportunities prevailing in the industry
• Examination of industry attractiveness with the help of Porter’s Five Forces analysis and start-ups
• The study comprehensively covers the market across different segments and sub-segments of the beauty and personal care sector
• A detailed analysis of country level export and import data of beauty and personal care products
• Region/country Covered: North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Russia and Rest of Europe), Asia-Pacific (China, Japan, India, Indonesia, Thailand and Rest of Asia-Pacific), MENA (UAE, Saudi Arabia and Rest of MENA) and Rest of the World (Argentina, Brazil and Other)
UMI understands that you may have your own business need, hence we also provide fully customized solutions to clients. The Global beauty and personal care market can be customized to the country level or any other market segment.
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