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 : February, 2021 | 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

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?