the global cosmetics market size reached US$ 379.7 Billion in 2022
SHERIDAN, WY, USA, February 5, 2023 /einpresswire.com / — According to the latest report by IMARC Group, titled“Cosmetics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.’ the global cosmetics market size reached us$ 379.7 billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 523.5 Billion by 2028, exhibiting a growth rate (CAGR) of 4.9% during 2023-2028.
Cosmetics represent beauty preparations manufactured by using a mixture of synthetic chemical compounds for cleansing, beautifying, and promoting the overall health of the skin. They comprise soaps, perfumes, lipsticks, deodorants, toothpaste, hair colors, shampoos, skin moisturizers, shaving creams, nail polishes, etc. Functional cosmetics focus on resolving a specific skin concern, such as skin whitening, reducing the appearance of fine lines and wrinkles, offering protection against ultraviolet (UV) rays, etc. They exhibit antioxidant and inflammatory properties and are free from preservatives that prevent acne and soothe chapped lips.
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Global Cosmetics Market Trends:
The increasing consumer beauty consciousness and the growing prevalence of skin-related complications are among the key factors stimulating the cosmetics market. Moreover, the introduction of new, premium, and unique products by leading manufacturers, on account of the inflating disposable income levels of individuals and the rising influence of social media platforms, is acting as another significant growth-inducing factor. Besides this, the expanding e-commerce sector and the escalating demand for mineral cosmetics, owing to their versatility, lightweight, ease of use, etc., are positively influencing the global market. Furthermore, the introduction of sustainable raw materials in the production process and the elevating need for maintaining a youthful appearance are also propelling the market growth. Apart from this, the widespread adoption of the vegan lifestyle and the negative impact of petroleum-based ingredients are further positively influencing the global market. Additionally, they are organic beauty products that are made by using plant-based extracts and environmental-friendly derivatives, which is anticipated to fuel the cosmetics market in the coming years.
Cosmetics Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the cosmetics market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
Avon Products Inc.
Henkel AG & Co. KGaA
Oriflame Cosmetics AG
Procter & Gamble Company
Revlon Inc. (MacAndrews & Forbes Incorporated)
Shiseido Company Limited
Skinfood Co. Ltd
The Estée Lauder Companies Inc
Key Market Segmentation
The report has segmented the cosmetics market on the basis of product type, category, gender and distribution channel.
Breakup by Product Type:
Skin and Sun Care Products
Hair Care Products
Deodorants and Fragrances
Makeup and Color Cosmetics
Breakup by Category:
Breakup by Gender:
Breakup by Distribution Channel:
Supermarkets and Hypermarkets
Breakup by Region:
North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key Highlights of the Report:
Market Performance (2017-2022)
Market Outlook (2023-2028)
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape
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