Premium Cosmetics Market - Global Industry Analysis, Size, Trends, Growth, Trends, and Forecast 2019 - 2029

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Premium Cosmetics Market - Global Industry Analysis, Size, Trends, Growth, Trends, and Forecast 2019 - 2029

Status : December, 2022 | Consumer Goods

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 reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?