There are two consumer demographics competing for the best in personal care and cosmetics. The incorporation of luxury cosmetics and personal care products into the lives of the general urban population has only been made possible in large part due to the consumer pool's increasing disposable income. Previously aimed only at the wealthy and elite, the global luxury personal care and cosmetics market is now filling up with products aimed at the urban elite and even the general population.
Data Bridge Market Research analyses that the luxury cosmetics market was valued at USD 45.88 billion in 2021 and is expected to reach the value of USD 75.37 billion by 2029, and is likely to grow at a CAGR of 6.40% during the forecast period during the forecast period of 2022 to 2029. Growth in the market is being driven by an increase in the disposable income of the population in developing countries. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behavior.
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Some of the major players operating in the luxury cosmetics market are:
- L’Oréal, (France)
- Shiseido Company, Limited (Japan)
- Christian Dior (France)
- Puig (Spain)
- Coty Inc. (U.S.)
- Kao Corporation (Japan)
- Revlon (U.S.)
- The Estée Lauder Companies Inc. (U.S.)
- Oriflame Cosmetics AG (Switzerland)
- KOSÉ Corporation (Japan)
- CHANEL (U.K.)
Global Luxury Cosmetics Market Scope
The luxury cosmetics market is segmented on the basis of type, product type, end-user and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Organic
- Convectional Products
Product Type
- Skincare
- Haircare
- Makeup
- Fragrance
End user
- Male
- Female
Distribution channel
- Hypermarkets
- Online Channels
- Specialty Stores
- Monobrands tores
- E-commerce
- Others
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Luxury cosmetics Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Increasing demand for healthy products
Growing health concerns are a critical factor driving market growth, as is the expansion of e-commerce through the infiltration of the internet, which has created international reach and allows consumers to choose from a variety of options, among other factors driving the luxury cosmetics market.
- Rise in the demand of halal cosmetics
Demand for halal cosmetics, particularly from Middle Eastern countries, will drive the growth of the luxury cosmetics market during the forecast period.
Opportunities
Furthermore, due to the development of various e-commerce companies, major vendors in this industry are choosing to sell through online platforms in order to secure a more diverse customer base, as it allows them to advertise their products with large discounts and offers to entice consumers.
Restraints
On the other hand, the availability of counterfeit products will act as a restraint, further challenging the growth of the luxury cosmetics market during the forecast period.
This luxury cosmetics market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the luxury cosmetics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Complete Report Details with Facts and Figures along respective Images and Graphs (TOC) https://www.databridgemarketresearch.com/toc/?dbmr=global-luxury-cosmetics-market
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