PRESS RELEASE
Published April 12, 2023
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 are products that are formulated using a combination of various chemical compounds, either naturally derived or artificially synthesized. These products are designed to be applied to the skin for the purpose of personal care, including cleansing, enhancing, altering, or protecting the skin. They are also utilized to conceal imperfections, modify the appearance of facial features, and enhance natural beauty. The application of cosmetics is an essential part of skincare routines and can help maintain healthy and radiant-looking skin.
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Global Cosmetics Market Trends:
The global market for cosmetics is experiencing growth due to the increasing awareness of individuals toward beauty and the growing demand for customized cosmetic products. This trend is being further bolstered by the proliferation of social media, rapid urbanization, and rising per capita income, leading to an increased willingness to invest in new, unique, and premium cosmetic products. Moreover, the rapidly expanding e-commerce sector, the burgeoning elderly population, and the enhancing focus on maintaining a youthful appearance are driving the market growth. Additionally, the surging demand for vegan cosmetics has compelled key market players to introduce new product variants made using plant-based extracts and environmentally-friendly derivatives, which is creating a positive outlook for the market.
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:
- Amway Corp
- Avon Products Inc.
- Beiersdorf AG
- Henkel AG & Co. KGaA
- Kao Corporation
- L’Oréal S.A.
- Oriflame Cosmetics AG
- Procter & Gamble Company
- Revlon Inc. (MacAndrews & Forbes Incorporated)
- Shiseido Company Limited
- Skinfood Co. Ltd
- The Estée Lauder Companies Inc
- Unilever plc.
Key Market Segmentation:
The report has segmented the cosmetics market on the basis of product type, category, gender, distribution channel and region.
Breakup by Product Type:
- Skin and Sun Care Products
- Hair Care Products
- Deodorants and Fragrances
- Makeup and Color Cosmetics
- Others
Breakup by Category:
Breakup by Gender:
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Specialty Stores
- Pharmacies
- Online Stores
- Others
Breakup by Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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