Premium Cosmetics Market to Witness Increase in Revenues by 2019 to 2029
The global premium cosmetics market is expected to grow at a CAGR of ~ 7 % by the end of the forecast period (2019-2029). Despite issues in global trade and worldwide economic uncertainties, the overall trajectory for the premium cosmetics market is largely positive. In the past few years, premium cosmetics brands have made substantial shifts in business strategy, which has been influenced by a number of factors including higher disposable incomes for the middle class, demand for high efficacy products, finances for women, and consciousness about aesthetics among men.
Some of the key players mentioned in the research report are
- The Procter & Gamble Company (P&G)
- Oriflame Holding A.G.
- Revlon Inc.
- Avon Products Inc.
The new report on the global premium cosmetics market gives estimations of the size of the international market and the overall size and share of key regional segments during the historical assessment period of 2014-2018. Major names in the premium cosmetics market include L’Oréal, Estee Lauder, Chanel, and Elizabeth Arden among others. The global market is largely oligopolistic. For most manufacturers, the focus at present is on the growing numbers in women workforce, rising economies, and the expanding middle class. Further, the growing demand for premium men’s cosmetics is also driving regional growth.
Further, factors such as greater brand recognition, digitalization, and the rising awareness among consumers about premium ingredients in cosmetics account for a positive shift towards premium branded cosmetics. The surge in premium cosmetics imports are driven by factors such as brand reputation, product pricing, and safety standards, which will drive market growth in the near future.
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The global premium cosmetics products is largely an oligopoly, with major players such as Estee Lauder and L’Oréal holding control over most of the market developments. These companies are increasing their efforts towards tech innovations, mergers, acquisitions, and new products to diversify and boost their geographic footprint. However, issues of high pricing and the widespread influx of counterfeit products, will continue to hamper the industry.
Fact.MR, in its new offering, has compiled an unbiased analysis of the worldwide market for premium cosmetics, with historical data on demand (2014-2018) and expected projections for the period 2019-2029. The report gives out detailed insights into the demand for premium cosmetics based on product type (skincare, haircare, makeup, fragrance), distribution channel (online and offline), and regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East and Africa).
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The detailed research report on the global premium cosmetics market focuses on the macro as well as microeconomic factors that are helping its development. The report also concentrates on the regulatory framework that is shaping the future of the global market. Furthermore, the research report also makes not of the existing as well as prevailing pricing structure, emerging areas of applications, and imminent investment opportunities in the global market. The report also offers an in-depth analysis of how the projected growth factors will shape the market dynamics in the coming years of the forecast period. Moreover, it also gives meaningful as well as actionable insights on the key trends that are developing the current market scenario and which will be lucrative for the future of the global premium cosmetics market.