Cosmetics Market worth 428.6 billion by 2023 | Market Size, share and Demand Analysis
Cosmetics Market Overview:
The cosmetics market (makeup or beauty products) is a mixture of chemicals commonly used to improve the appearance or odors of the human body. Sun care, skin care, hair care, deodorants, makeup and cosmetics and colored perfumes are some of the cosmetic products that are available and used mainly by people. Retail stores, including supermarkets, exclusive brand stores and specialty stores, among others, are the main distribution channels, and online channels are gaining popularity among consumers.
Cosmetics Market Overview:
The global cosmetics market is expected to generate USD 428.6 billion by 2023, at CAGR of 4.1% for the forecast period.
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Cosmetics Market Insights and Opportunities:
The disposable income has increased considerably in the last decade. Growth in global economies, changes in lifestyles, the growing demand for skin care products and solar care due to changing weather conditions are driving the growth of the cosmetics market. A shift in preference to natural and organic beauty products, particularly in the United States and European countries, is driving the growth of the cosmetics market. The growing demand for natural, herbal and organic beauty products creates potential opportunities for manufacturers to innovate and develop new products according to consumer preferences.
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Geographic Presence of Cosmetics Market:
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa are regional segments of the global market. The Asia Pacific accounted for the highest market share in 2017. The growth is attributed due to growing population and large customer base for cosmetics market.
Some of the Key Players in Cosmetics Market are:
Loréal, P&G, Unilever, Estée Lauder,KAO, Shiseido, Avon LV, Channel, Amore Pacific, Jahwa, Beiersdorf, Johnson & Johnson, Jialan, INOHERB, Sisley, Revlon, Jane iredale, Henkel, Coty
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