Beauty and Personal Care Market to be Valued at USD558.12 Billion by 2026F
Growing
concerns over appearance due to social media penetration is expected to drive
the beauty and personal care market
globally.
According
to TechSci Research report, “Global
Beauty and Personal Care
Market By Product Type (Personal Care (Skin
Care, Hair Care), Beauty Care(Makeup and Color Cosmetics, Beauty Tools and
Accessories, Nail Care & Others)), By Distribution Channel (Departmental
Stores/Grocery Retails, Specialty Store, E-Commerce, Pharmacies & Others
(Institutional Stores, Experts Store, Salon)), By Region, Competition, Forecast
and Opportunities, 2026”, the
global beauty and personal care market
has been valued at USD422.72 billion in 2020 and is forecast to reach USD558.12
billion by 2026F with the CAGR of 4.82%. The use of beauty and personal care
products has witnessed a considerable increase, worldwide, due to various
social, economic, and cultural changes across the globe. Growth in the market
can be attributed to increasing disposable income, rising awareness related to
hygiene, personal health, skin care, growing working females, and changing
lifestyles of consumers. Social media is also considered one of the major
driving factors of beauty and personal care market as many people have started
their own youtube channels and instagram accounts to spread awareness among
people related to beauty and personal care products. Social media has not only
given broader market reach to brands but has also reinvented them. In beauty
and personal care market, women are more likely to explore new products. They
enjoy buying new products and new brands. Major beauty companies are acquiring smaller
companies at very high values, which draws more founders and creativity every
day. The major reason behind acquisitions is big beauty brands are threatened
by the young, independent brands that consumers want now. Using data and
customer input to create products for consumers, i.e., customization and
personalization is the new trend in beauty and personal care market to
retain the customer.
The global beauty and personal care
market is segmented based on product type, distribution channel, company, and
region. In terms of product type, the market can be segregated into personal
care and beauty care. Out of these, personal care registered a market share of around
55% in 2020. Personal care products include skin care and hair care where skin
care is dominating the market due to growing desire for self-care products.
Beauty care products include makeup and color cosmetics, beauty tools and
accessories, nail care others where makeup and color cosmetics hold 60% of
market share because consumer use these to reduce age related imperfection.
In terms of distribution channel, the market
is segmented into departmental stores/ grocery retails, pharmacies, e-commerce,
specialty stores and others. Departmental stores are dominating the global beauty
and personal care market. It is also witnessed that countries like India, China,
UAE, Saudi Arabia, and South Africa have the highest demand for departmental
stores/ grocery retails and pharmacies whereas e-commerce is the emerging
trends in global beauty and personal care market. COVID-19 has changed the
consumer buying pattern, as consumers have now shifted towards online channels for
buying beauty and personal care products due to the closure of retails shops
and companies taking safety measures while delivering products to consumers at
home. Prompt and easy access to several online shopping sites through smartphones
and the presence of popular beauty and personal care brands is boosting the
target market growth globally. Secured online payments, easy navigation,
customer support, user-friendly website designs, and easy return policy are
some of the key factors of sales of beauty and personal care product through e-commerce.
It is also found that there is a slight increase in the sales of beauty and
personal products via salon and experts stores.
Browse 137 Figures spread through 110
Pages and an in-depth TOC on" Global Beauty and Personal Care
Market"
https://www.techsciresearch.com/report/beauty-and-personal-care-market/7421.html
In
terms of regional analysis, the market is segmented into Asia-Pacific, Europe,
North America, South America, and Middle East and Africa. Asia-Pacific is
dominating the global beauty and personal care market followed by North America
due to rising disposable income, increasing urbanization, growing female workforce,
rising concern over self-care and well-being. The rural lifestyle and habits
have started mirroring urban aspirations and lifestyle.
L'Oréal S.A., Unilever plc, The Estée Lauder Companies Inc.,
The Procter and Gamble Corporation, Shiseido Company Limited,
Kao Corporation, Beiersdorf AG,
Coty Inc., Avon Products,
Groupe L'Occitane are the
major leading players in the global beauty and personal care market.
Download Sample
Report @ https://www.techsciresearch.com/sample-report.aspx?cid=7421
Customers can also
request for 10% free customization on this report.
“Companies are
constantly investing in terms of product innovation and brand development and are
looking for personalized service. Like, L’Oréal
introduced a prototype of the latest innovation from the L’Oréal Technology
Incubator at the 2019 Consumer Electronics Show. My Skin Track pH by La
Roche-Posav is the first wearable sensor and companion app to easily measure
personal skin pH levels and create customized product regimens to better care
for skin.”, said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based global management consulting firm.
“Global
Beauty and Personal Care Market By Product Type (Personal Care (Skin Care, Hair
Care), Beauty Care(Makeup and Color Cosmetics, Beauty Tools and Accessories,
Nail Care & Others)), By Distribution Channel (Departmental Stores/Grocery
Retails, Specialty Store, E-Commerce, Pharmacies & Others (Institutional
Stores, Experts Store, Salon)), By Region, Competition, Forecast and
Opportunities,”, has evaluated the future
growth potential of beauty and personal care globally and provides statistics
and information on market structure, size, share, and future growth. The report
is intended to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities present in the global beauty and personal care market.
About TechSci Research
TechSci Research is a leading global market research firm publishing
premium market research reports. Serving 700 global clients with more than 600
premium market research studies, TechSci Research is serving clients across 11
different industrial verticals. TechSci Research specializes in research-based
consulting assignments in high growth and emerging markets, leading
technologies, and niche applications. Our workforce of more than 100 full-time
Analysts and Consultants employing innovative research solutions and tracking
global and country-specific high growth markets helps TechSci clients to lead
rather than follow market trends.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New
York – 10017
Tel:
+1-646-360-1656
Email:
[email protected]
Web: https://www.techsciresearch.com/