Premium cosmetics market size to grow by USD 51.75 billion, Insights on the Key Drivers and Trends
NEW YORK, Nov. 30, 2022 /PRNewswire/ — The premium cosmetics market size is projected to grow by USD 51.75 billion, progressing at a CAGR of 6.6% from 2021 to 2026. By region, the global premium cosmetics market is segmented into APAC, Europe, North America, South America, and the Middle East and Africa. APAC is estimated to contribute 37% to the growth of the global market over the forecast period. The rising access to online shopping through the Internet and smart gadgets will facilitate the premium cosmetics market growth in APAC over the forecast period.
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Premium cosmetics market: The increased demand for premium skincare products drives the growth
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One of the key factors driving the premium cosmetics market growth is the increased demand for premium skincare products. Rising disposable income has encouraged consumers to spend more on premium products. This has led to an increase in the demand for premium cosmetics, especially skincare products. To cater to this growing demand, market vendors are investing in innovative ingredients and technologies to develop premium products that would positively affect the health and appearance of the skin. These products are priced relatively higher than regular skincare products, thereby placing them in the premium segment. Thus, the increased demand for premium skincare products is expected to drive the growth of the global cosmetics market during the forecast period.
Premium cosmetics market: Multichannel marketing is the key trend in the market
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The adoption of multichannel marketing strategies by vendors is one of the key premium cosmetics market trends that is expected to impact the industry positively in the forecast period. Consumers are increasingly engaging in social media and blogs and are educating themselves about various topics. Hence, vendors are making use of such platforms to increase awareness and promote their products. Factors such as increasing internet penetration and a growing number of smartphone users has further enabled vendors to launch marketing strategies to engage customers and increase overall sales. This trend is expected to have a positive impact on the growth of the global premium cosmetics market during the forecast period.
Premium cosmetics market: Segmentation Analysis
This market research report segments the premium cosmetics market by product (skincare products, fragrances, color cosmetics, hair care products, and others), distribution channel (offline distribution channel and online distribution channel), and geography (APAC, Europe, North America, South America, and Middle East and Africa).
The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share, among others. buy the report!
Some of the key topics covered in the report include:
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
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Related Reports:
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The cosmetics market size is expected to increase by USD 78.89 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.36%. The market is segmented by type (skin care, hair care, makeup, fragrance, and others), end-user (women and men), distribution channel (offline and online), and geography (APAC, North America, Europe, South America, and the Middle East and Africa).
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The online premium cosmetics market size is expected to increase to USD 15.26 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 7%. The market is segmented by product (skincare, makeup, haircare, and others) and geography (APAC, North America, Europe, South America, and Middle East and Africa).
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Premium cosmetics market scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.6% |
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Market growth 2022-2026 |
USD 51.75 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
5.8 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 37% |
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Key consumer countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Amway Corp., Beiersdorf Aktiengesellschaft, CHANEL Ltd., Coty Inc., Dambiro de, Groupe Clarins, Henkel AG and Co. KGaA, Johnson and Johnson, Kose Corp., Loccitane International SA, LVMH Moet Hennessy Louis Vuitton SE, NUDE Beauty Brands, Oriflame Holding AG, Revlon Inc., Shiseido Co. Ltd., The Avon Co., Unilever PLC, The Procter and Gamble Co., Kao Corp., LOreal SA, and The Estee Lauder Co. Inc. |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Market Segmentation by Distribution Channel
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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