Premium Cosmetics Market - Global Industry Analysis, Size, Trends, Growth, Trends, and Forecast 2019 - 2029
Premium Cosmetics Market - Global Industry Analysis, Size, Trends, Growth, Trends, and Forecast 2019 - 2029
Report Digest
Global Premium Cosmetics Market: Overview
The disposable income of people worldwide is rising, making premium products in reach of a larger consumer base. This is taking the global premium cosmetics market on a high growth path, presenting the players with untapped opportunities – many and attractive.
It is important to note here that another reason for growth observe in demand of premium products is a creation of brand recall owing to growing social media influence. Besides, social media is leading people to strive for a higher beauty ideal, the promise of which is shown by such high-end products.
As per an upcoming report by TMR Research, the global premium cosmetics market would chart a sturdy growth curve, owing to a significant CAGR (Compound Annual Growth Rate), taking the market to a better valuation.
Global Premium Cosmetics Market: Competitive Landscape
The global premium cosmetics market is seeing significant developments happening in its landscape, owing to pro-active players and improved products hitting the market on a regular basis.
- One such instance is the launch of Make It Bar in the year 2017 by the company Face Gym. It is a classic example of introducing the element of personalization to a product in order to ensure that the millennial consumer is successfully lured. It allowed consumers to take help from a professional and based on skin-type and concern, to create highly specific face serums.
- Then, in the year 2018, Stylenanda was acquired by L’Oréal. The move helps L’Oréal penetrate better into the South Korean and Chinese market. L’Oréal acquired Pulp Rio in the same year to tap into their market share of hair color and into its robust presence on the social media
Some of the top market players that operate the premium cosmetics market landscape are:
- Coty
- Estée Lauder
- L’Oréal
- LVMH
- Shiseido
- Chanel
- Dior Beauty
- Elizabeth Arden Inc.
- KAO Corporation
- The Procter & Gamble Company (P&G)
Global Premium Cosmetics Market: Key Trends and Drivers
Factors that are driving the global premium cosmetics market include an increase in disposable income and a strong social media influence, impacting spending patterns of both men and women. An analysis is detailed out below:
- Social media is setting high beauty standards for people across all age groups and then there are influencers who are tapping into different demographics, bringing the most exotic and premium products to everyday lives of people. Besides, online, reviews, comparisons and so much more can happen, that consumers are inadvertently lured into buying the best that exists. This, along with superior marketing initiatives by brands, helps the global premium cosmetic market onto a high growth trajectory.
- Men’s grooming is quickly catching on and a range of products is springing up to plug in demand. Thus, one notes a wide range of products from fragrance to hair care and skincare. Brands such as Chanel and L’Oréal are massively involved in meeting the demand of this segment
Global Premium Cosmetics Market: Regional Analysis
The most lucrative region for market players over the forecast period would be Asia Pacific which is set to remain a large and fast growing market, credit a rapidly expanding women workforce, increase in disposable income and a massive social media influence. Demand would be particularly high from countries such as Japan and China.
Product Outlook
- Skincare
- Haircare
- Makeup
- Fragrance
- Others
Distribution Channel Outlook
- Online
- Offline
The study presents a granular assessment and quantitative evaluation of:
- Key growth factors and prominent trends
- Size and share of key segments in overall market
- Key challenges and winning imperatives
- Factors shaping competitive landscape
- Insights into how contours of market will change in coming years
- Technological advances
- New avenues and imminent investment pockets
- Regulatory landscape shaping current and future strategies of companies
The region-wise assessment includes market dynamics in:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.
The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:
- Which key factors will shape the competitive landscape?
- Which trends will stimulate research and development activities in different geographies?
- Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
- Which disruptions in market growth are likely to come with the new business models?
- Which are some of the recent overhauls in policies that may change the course of the market significantly?
- Which are the geographies that will form sizable sources of new streams to new and established players alike?
- How are top players likely to realign their strategy to counter the forces of competition?
- Which key strategies emerging players are likely to focus on to consolidate their position?
- Which changes in end-user preferences might affect the status quo held by the leading players?
- Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?
Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.
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