Report Summary
The size of the global market for skin care products was estimated at USD 130.50 billion in 2021, and it is anticipated to increase at a CAGR of 4.6% from 2022 to 2030. Globally rising demand for face creams, sunscreens, and body lotions is anticipated to positively affect market expansion throughout the forecast period. Additionally, it is projected that the thriving e-commerce sector will accelerate market expansion.
The beauty and cosmetics business has been severely impacted by the COVID-19 outbreak. Store closures brought on by tight lockdown procedures had severe effects, with global sales falling by 60–70% from March to April 2020. As consumers spent less on cosmetics and personal care items, businesses positively addressed the situation by expanding their production capabilities and providing hand sanitizers and cleaning supplies. Consumers in the United States are becoming more interested in personalised goods. The notion of creams, serums, and moisturisers enriched with natural components is likely to experience significant demand over the forecast period due to the growing consumer preference toward natural beauty products. As a result, these products are thought to be more effective and have minimal to no negative effects.
Market Snapshot
The market for cosmetic products in India is anticipated to expand at a CAGR of 4.23% from 2022 to 2022. Although the cosmetics sector may be reasonably robust when compared to other consumer groups, sales in 2020 have been appalling. It is said that this industry will still be appealing in the future, though. Instead of breaking new ground, the pandemic-related crises would highlight existing market trends like an increase in e-commerce. Due to the closure of offline stores at various locations across the country during COVID-19, almost all segments of this industry experienced a comparable decline in sales.
A significant opportunity for the market is anticipated to arise in the near future as a result of the global trend toward organic cosmetics goods. Consumer preference for organic cosmetics over products with chemical bases is being supported by rising consumer awareness of organic cosmetics and their beneficial effects on skin, which is further fueling the market’s expansion. Celebrities and millennials have a sizable appetite for fragrance items, which has contributed to the market’s expansion throughout the course of the projection period. Future market potential will also be greatly influenced by cosmetic manufacturers’ increasing innovation and product development.
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Global Cosmetic Products Market: Major Players
The Estée Lauder Companies Inc. (U.S.)
Oriflame Holding AG (Switzerland)
L’Oréal S.A. (France)
Procter & Gamble Co. (U.S.)
Avon Products, Inc (U.S.)
Unilever (U.K.)
Kao Corporation (Japan)
Beiersdorf AG (Germany)
Global Cosmetic Products Market: By Types
Skin Care Products
Hair Care Products
Makeup & Color Cosmetics
Deodorants & Perfumes
Others
Global Cosmetic Products Market: By Applications
Supermarket/hypermarket
Specialty stores
Cosmetic stores
E-commerce
Drug stores
Others
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Global Cosmetic Products Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Cosmetic Products market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
Frequently Asked Questions About This Report
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