Global Cosmetic Products Market is projected to grow at the CAGR of 5.4%. Cosmetic Products are used widely by the female population to make the external look more bright and youthful. Adoption of changing fashion trends has led to the increase in market share of the cosmetic products globally. Advancement in technology also has a major impact on the growth of cosmetic products. Increasing sale of cosmetic products amongst the population due to their property to protect skin against the allergens and pollution of the environment. Rising demand for personal care products is supporting the sale of cosmetics globally.
Growing economy and increasing fashion awareness via various means such as fashion magazines, fashion channels and others has influenced the positive growth of cosmetic products share in the market. Changing lifestyle of the consumers in the developed countries is having a positive impact on the growth of its market. Key Players are following strategies of merger and acquisition of small players due to high demand of the product. Product innovation is considered to be the major focus for the cosmetic products manufacturers. U.S. and Germany are amongst the major key players exporting cosmetic products to various countries in Europe and other regions.
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Major Key Players:
The major key players in cosmetic products market are
- L’Oréal S.A. (France)
- Avon Products, Inc (U.S.)
- The Estée Lauder Companies Inc. (U.S.)
- Oriflame Holding AG (Switzerland)
- Beiersdorf AG (Germany)
- Kao Corporation (Japan)
- Unilever (U.K.)
- Procter & Gamble Co. (U.S.)
Cosmetic products manufacturers across various regions follow the strategy of improving their existing product line by adding innovations to their products to expand their business. This is one of the major factors due to which the demand of cosmetic products is experiencing a surge. In the North America region, U.S. is amongst the dominating countries holding a major share in cosmetic products market and exports the product in various other countries which include China, Canada, Mexico, Australia, Netherlands and others.
- The share held by makeup and color cosmetics is found to be growing at a higher rate
- Top exporters of cosmetic products include U.S., France, Korea, Germany and Singapore
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- Cosmetic products has been segmented on the basis of Type which comprises Skin Care Products, Hair Care products, Makeup & Color Cosmetics, Deodorants & Perfumes, Others. Skin Care segment is found to hold a major share due to high consumer’s preference.
- Cosmetic products has been segmented on the basis of Product-Category which involves Organic, Herbal, Oil-Free, Alcohol-Free, Cruelty-Free, Others. Herbal cosmetics hold a major share with the increasing sale of natural plant based cosmetic products.
- Cosmetic products has been segmented on the basis of distribution channel which comprises Supermarket/hypermarket, Specialty stores, Cosmetic stores, E-commerce, others. Sale through E-commerce is growing at a higher growth rate backed up by the advancements in technology.
The Global Cosmetic Products Market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). North America region has the major market share followed by Europe. However, based on a potential application in fashion sector, cosmetic products have gained popularity in various other regions. U.S., China, Hong Kong, U.K. and Germany are considered the major importers of cosmetic products.
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