Cosmetics Consumption Market Growth Analysis 2023-29
The global cosmetics consumption market size was valued at USD 402.3 billion in 2021 and is poised to grow at a significant CAGR of 5.6% during the forecast period 2023-29. Skincare, hair care, make-up, perfumes, toiletries and deodorants, and oral cosmetics are the main product categories of the cosmetic market. Skincare was the leading category, accounting for about 39 percent of the global market. Hair care products made up a further 21 percent, while make-up accounted for 19 percent. Skin care has been forecast to remain the most profitable product category.
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The global cosmetics consumption market segmentation:
- By Product Type: Fragrances, Skin Care Products, Color Cosmetics, Hair Care Products, Hygiene Products, Others
- By Category: Conventional and Organic
- By Pricing: Low-priced, Medium-Priced, Premium-Priced
- By Distribution Channel: Online, Offline
Based on distribution channel, global cosmetics consumption market is segmented into online and offline. online is accounted for higher revenue. As with social networks and social bookmarks, social media has become increasingly popular among Internet users for the same reasons. Using a social media like YouTube or Flickr as a medium to promote your business could bring a lot of traffics to your website. By partnering with YouTube, media companies can now have a two-way dialogue with viewers who can provide feedback about what they find entertaining.
Based on regional analysis, global cosmetics consumption market segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe global cosmetics consumption market contributed the largest share in 2021. Growing increase of cosmetic products is the mainly use of anti-aging cosmetic products by customers. In addition, the cosmetics industry in Europe has experienced a significant technical development as a result of the use of new products in the cosmetics market. Germany is estimated to maintain its dominance in the European cosmetics industry which subsequently boost the global market.
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Key player’s profiles in the global cosmetics consumption market are: Coach, LVMH, Puig, Shiseido the Estée Lauder Companies Inc., Ralph Lauren Corporation, L’Oréal, Coty, Revlon, Avon Products Inc., Hermès, Oriflame, The Procter & Gamble Company, Unilever PLC, GIVI Holding S.p.A., Christian Louboutin S.A., Bottega Veneta, Balmain, Azzaro, Carolina Herrera, Groupe Clarins SA
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