Evolving consumer lifestyle is the key drivers behind the
vigorous cosmetics market. Purchasing decisions are increasingly motivated by
the quest for healthy living and usage of premium products with clean labels.
In turn, this is driving personalized beauty and customization, reinforced by
smart technology that is catapulting forward the desired lifestyles.
Product Overview:
Cosmetics are the product or substances used to alter or
enhance the appearance or fragrance of the body. Many cosmetic products are designed
for applying to the hair and face. The cosmetic products are generally mixtures
of chemical compounds as some being synthetics and some being derived from
natural sources (like coconut oil). Most common cosmetic includes mascara,
lipstick, eye shadow, foundation, rouge, skin lotions, skin cleansers, shampoo,
perfume, cologne and hairstyling products (gel, hair spray, etc.). Cosmetics
which are applied to the face to enhance its appearance are called as make-up
or makeup.
The Growing Global Women Cosmetics Market:
Global Women Cosmetics Market witnessed a moderate
growth as United States, Japan and the United Kingdom leads the women cosmetics
market on account of factors like increasing spending power of women, rising
GDP per capita, availability of better and new products, rising awareness of
the women to adopt different products, aggressive promotional activities etc.
However, the market has been spurred by the rising adoption of the cosmetics
products as a daily regimen by the women of the developing countries like
India, China, etc. and thereby, adding up to the revenue of Global Women
Cosmetics Market.
Moreover, global women cosmetics market is also flourishing
on the account of rising influx of fragrances, that not only provides a
soothing fragrance but also various other benefits such as underarm whitening,
which is inducing women across the globe to buy these fragrances. Women’s
increasing interest in looking young is fueling the demand for skincare
products that fight signs of fatigue, stress and ageing. Moreover, rise in the
awareness about the women cosmetics products, along with the involvement of the
celebrities to endorse brands is benefiting the women’s cosmetics
market.
What’s So Hot in the Global Women Cosmetics Market?
·
Product Innovations
Companies are focusing on bringing in products specific as
per consumer requirement.
·
Organic products
Growing concerns for the long-term effects due to usage of
cosmetics is forcing the manufacturers to bring in the organic cosmetic
products as well. Rising trend of the use of natural and organic ingredients in
cosmetic products is observed among various cosmetic manufacturing companies.
This trend caters to the ever-increasing demand for organic and natural
cosmetic products among consumers. Use of organic cosmetic products minimizes
the chances of any possible side effects of the product. This ultimately
increases and contributed to the usage of cosmetics among individuals and
aiding to the growth of Global Women Cosmetics Market.
·
Focus on Packaging
Packaging plays a major role in the implementation of any
marketing strategy. An attractive package is vital for the success of a brand
and has a potential to back the company’s profits. As a result, companies these
days package their products strategically to lure customers. Predominantly, in
context to marketing, usage of the plastics made out of renewable raw
materials, and biologically degradable materials have the ability to attract
consumers. Alongside, being practical and comfortable, dispensers are also
hygienic and environmentally friendly, and are increasingly being used in
lotions, face wash, shampoos, etc. Moreover, companies are value packs for all
its products.
Women Cosmetics Market in India
In a report by TechSci Research, “India Cosmetics Market By Category (Body Care, Hair Care, Color
Cosmetics, Men's Grooming, Fragrances, Others), By Distribution Channel
(General Stores, Supermarket/Hyper Market, Specialty Stores, Online Sales
Channel, Others), By Region, Competition, Forecast & Opportunities, FY2026”,
the India cosmetics market is booming not only
due to rising number of the female consumer, but the male consumers that have
recently been introduced to the trend of following latest beauty standards. In
India, cosmetic industry growing at the significant rate due to the increasing
penetration in both rural & urban areas, however products need may vary.
Additionally, factors such as economic growth, increasing product availability,
increasing disposable income, growing consumer expenditure on beauty and grooming,
among others are further expected to propel the market during the next five
years.
The recent trend of following social media influencers and
their honest opinions is shaping the business structure of cosmetics in India. Consumers
are highly influenced by the social media and word of mouth publicity as this
has been mostly given by the people who have already used the product and
provide honest opinion. While buying cosmetics consumers are paying attention
to their skin type before buying the product as, the usage of wrong products
may cause side effects. Which could further lead other skin problem or medical
consultation. Female consumers are
significantly opting for the organic, natural & herbal cosmetics products,
as they are now more concern about the long-term impact of chemicals on their
skin and body. In addition, few companies like providing most of products for
such consumers.
Impact of COVID-19 on India Cosmetic Market
The onset of COVID-19 created a huge setback on the country’s
economy. The pandemic created manpower shortage in the country’s cosmetic
industry. As most of the workers left for their homes in absence of work, were
also closed due to the government restrictions for some time, which negatively
impacted the cometic industry. Due to the lockdown restrictions, interstate
travel and logistics have been impacted which is needed in order to maintain an
efficient supply chain in the cosmetic industry. Cosmetic industry is highly
depended on the logistics and transportation for the supply of cosmetic
products to the retail stores in the various parts of the country, which got
affected due to the lockdown. With governmental standards, beauty products were
not included in the essential products. People were forced to stay at home, due
to which they were using less cometic products such as color cosmetics, body
and skin care products. However, body care segments witnessed recovery in loses
in some time, but people are still not using cosmetics, especially color
cosmetic and beauty products like the way they used to do before lockdown.
In another global research report by TechSci
Research, “Global Organic Cosmetics Market By Product Type (Skin Care, Hair Care, Oral
Care, Fragrances, Make up, Others), By Gender (Male v/s Female), By
Distribution Channel (Beauty Parlors/ Salons, Retail Stores (Multi Branded
Retail Stores, Supermarkets/Hypermarkets, Exclusive Retail Stores), Online), By
Company, By Region, Forecast & Opportunities, 2025”, the global organic cosmetics market is projected
to show a robust growth in the forecast years, 2021-2025 on the account of increasing
number of health scares due to chemicals in cosmetics, along with rising levels
of pollution in major cities such as Delhi, Isparta, Ürümqi, Xining and Beijing
are driving people to switch to organic cosmetics instead of standard
chemicals. Moreover, governmental policies and regulations for the concerned
chemicals being added in the cosmetics products is anticipated to propel the
market growth in the future five years. Furthermore, factors such as increasing
spending on health & hygiene products, growing working women population,
among others are expected to spur the market growth. The sudden outbreak and
spread of pandemic COVID-19 have significantly hit the organic cosmetics
market. The consumer spending on organic cosmetics has gone down and a shift in
consumer behavior is observed towards the products having low risks of
contamination and having longer shelf life. While, the brands are trying to
improve their supply chain and are strengthening their e-commerce channels, but
lockdown has drastically increased the demand-supply gap.