Luxury Cosmetics Market Share, Growth, Research Report and Forecast 2024-2032
IMARC Group, a leading market research company, has recently releases report titled “Luxury Cosmetics Market Report by Product Type (Skincare, Haircare, Makeup, Fragrances), Type (Organic, Conventional), Distribution Channel (Supermarkets and Hypermarkets, Specialty and Monobrand Stores, Online Stores, Others), End User (Male, Female), and Region 2024-2032“, Offers a comprehensive analysis of the industry, which comprises insights on the global luxury cosmetics market share.
How Big is the Luxury Cosmetics Market?
The global luxury cosmetics market size reached US$ 52.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 77.6 Billion by 2032, exhibiting a growth rate (CAGR) of 4.3% during 2024-2032.
Industry Overview of Luxury Cosmetics
Luxury cosmetics refer to high end beauty products that are often characterized by their premium quality, exceptional performance, and exclusive availability. They consist of various products, such as skincare creams, lotions, powders, lipsticks, nail polishes, eyeliners, and serums. They also comprise haircare products, which improve the condition or appearance of the hair and fragrances that add a pleasant scent. Luxury cosmetics are typically sold in specialized stores, high-end department stores, or through authorized online platforms as compared to mass-market or drugstore cosmetics. They often feature superior ingredients, advanced formulations, and a heightened focus on efficacy and long-lasting results.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/luxury-cosmetics-market/requestsample
What are the growth prospects and trends in the luxury cosmetics industry?
Presently, increasing concerns among individuals about their physical appearance and the rising awareness about the aesthetic benefits of using luxury cosmetic products represent one of the primary factors bolstering the growth of the market around the world. Moreover, rapid urbanization, the expanding purchasing power of consumers, and the growing influence of social media among the masses are catalyzing the demand for luxury cosmetic products worldwide.
In addition, product manufacturers are introducing organic, vegan, plant based, and skin related luxury cosmetic products, such as kajal, foundation, and eye makeup, to meet the requirements of individuals with sensitive skin. They are also focusing on introducing waterproof and mineral based cosmetic products. Along with this, the emerging trend of gifting premium unique items, such as luxury cosmetic products, in innovative labels and packaging formats like wrappers, bottles, and wooden boxes is favoring the growth of the market. Apart from this, a considerable reliance on celebrity endorsements, reviews, online tutorials, and social media campaigns by content creators is increasing the overall sales of luxury cosmetics and generating brand awareness among the masses.
Furthermore, the rising number of salons and makeup studios offering makeup services from luxury cosmetic products is strengthening the growth of the market. Besides this, there is an increase in the number of hypermarkets, supermarkets, and brand cosmetic stores that are offering easy availability of luxury cosmetic products, such as shampoos, shaving creams, lip balms, toothpaste, skin moisturizers, and deodorants. Along with this, the shifting preferences towards online shopping applications and websites as they provide easy accessibility to a vast catalog, convenience offered, and fast shipping facilities with innumerable discounts, cashback, and offers are propelling the growth of the market. Additionally, the growing demand for gender neutral luxury cosmetic products and the rising focus on anti aging products among aging populations is creating a positive outlook for the market.
Leading Companies Operating in the Global Luxury Cosmetics Industry:
- Avon Products Inc. (Natura & Co.)
- Coty Inc.
- Estée Lauder Companies Inc.
- Kao Corporation
- Kosé Corporation
- L’Oréal S.A.
- LVMH Moët Hennessy Louis Vuitton
- Oriflame Cosmetics AG
- Puig
- Revlon Inc
- Shiseido Company Limited
- Tatcha LLC.
Luxury Cosmetics Market Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Product Type:
- Skincare
- Haircare
- Makeup
- Fragrances
Breakup by Type:
- Organic
- Conventional
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Specialty and Monobrand Stores
- Online Stores
- Others
Breakup by End User:
- Male
- Female
Regional Insight:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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