NEW YORK, March 9, 2023 /PRNewswire/ — According to Technavio, the global online premium cosmetics market size is estimated to grow by USD 9,515.73 million from 2022 to 2027. The market is estimated to grow at a CAGR of 4.78% during the forecast period. Moreover, the growth momentum will accelerate. The rise in aging population is driving the online premium cosmetics market growth. For more insights on the historic data (2017 to 2021), and forecast market size (2023 to 2027) – Request a sample report
Anti-aging products are becoming more popular globally, with the rise in the aging population. The skin becomes thinner and loses fat, firmness, and texture with age. Moreover, prolonged exposure to the sun can lead to wrinkles, dryness, and aging skin. Cosmetics with anti-aging properties contain various substances such as resveratrol and carotene. They have natural antioxidant properties, which prevent premature aging of the skin. Therefore, the rise in the aging population is expected to increase the demand for anti-aging cosmetic products, which, in turn, will drive the growth of the market during the forecast period.
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Online premium cosmetics market – Segmentation assessment
Segment Overview
Technavio has segmented the market based on product (skincare, makeup, haircare, and others) and end-user (women and men).
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The skincare segment will account for a significant share of the market growth during the forecast period. Some examples of skincare products include topical creams, lotions, toners, exfoliators, and serums for the skin. Such products are used for applications such as anti-aging, skin-whitening, and sun protection. The increase in aging population and advances in manufacturing technology are driving the growth of this segment.
Geography overview
Based on geography, the global online premium cosmetics market is segmented into APAC, North America, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global online premium cosmetics market.
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APAC is estimated to account for 47% of the growth of the global market during the forecast period. The ease of access to online shopping through the internet and smart gadgets is driving the growth of the regional market. In addition, rapid urbanization, increasing penetration of smartphones and the internet, high population density, and rising demand for personal grooming products will likely drive market growth in APAC during the forecast period.
Insights on the market contribution of various segments, including country and region-wise data, historic data (2017 to 2021), and forecast market size (2023 to 2027) – Download a sample report
Online premium cosmetics market – Market Dynamics
Leading trends influencing the market
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An increase in online retailing is a key trend in the market.
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Access to online shopping platforms is increasing owing to the rising internet penetration and the high availability of smart devices.
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Retailers use online platforms to expand their geographic reach and customer base.
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Online shopping is convenient and offers advanced security features.
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Most vendors that offer premium cosmetic products sell their products through e-commerce sites. For instance, Sephora has a strong presence through offline and online distribution channels.
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Such vendors offer various discounts and provide important information such as product features.
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Such advantages will drive the growth of the market during the forecast period.
Major challenges hindering the market growth
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The high cost of cosmetic skincare products is challenging the market growth.
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Some cosmetic skincare products have expensive ingredients, such as gold, caviar extract, saffron, rose, jasmine essential oils, and arginine.
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Hence, the prices of these products are high.
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Packaging and advertising costs further increase the final price of the product.
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Companies also use expensive antioxidants and nourishing ingredients such as peptides and retinol in their products.
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They are investing significantly in developing innovative cosmetics and skincare products that are efficient and safe for users.
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Thus, the high cost of cosmetic skin care products will hinder the growth of the market during the forecast period.
Insights on market drivers, trends, and challenges, historic period (2017 to 2021), and forecast period (2023 to 2027)- Request a sample report!
What are the key data covered in this online premium cosmetics market report?
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CAGR of the market during the forecast period
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Detailed information on factors that will drive the growth of the online premium cosmetics market between 2023 and 2027
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Precise estimation of the size of the online premium cosmetics market and its contribution to the parent market
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Accurate predictions about upcoming trends and changes in consumer behavior
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Growth of the online premium cosmetics market across APAC, North America, Europe, South America, and Middle East and Africa
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A thorough analysis of the market’s competitive landscape and detailed information about vendors
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Comprehensive analysis of factors that will challenge the growth of online premium cosmetics market vendors
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Online Premium Cosmetics Market Scope |
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Report Coverage |
Details |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.78% |
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Market growth 2023-2027 |
USD 9,515.73 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
3.76 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 47% |
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Key countries |
US, Canada, China, Japan, and Germany |
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Competitive landscape |
Leading vendors, market positioning of vendors, competitive strategies, and industry risks |
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Key companies profiled |
Amorepacific Corp., Avon Products Inc., Clarins Pte Ltd., Dambiro de, Hermes International SA, Johnson and Johnson, Kao Corp., Kose Corp., LOccitane Groupe SA, LVMH Moet Hennessy Louis Vuitton SE, Manash Lifestyle Pvt. Ltd., PUIG S.L., Shiseido Co. Ltd., CHANEL Ltd., LOreal SA, Oriflame Holding AG, Revlon Inc., The Procter and Gamble Co., The Estee Lauder Co. Inc., and Unilever PLC |
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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. |
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Table of contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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