2018 Global Cosmetics Products Market Current Scenario with | Technical Analysis | Future Growth Prospect | Forecasting Research Report 2023
Cosmetics Products Market report provides emerging opportunities in the market and the future impact of major drivers and challenges and, support decision makers in making cost-effective business decisions. Cosmetics Products Market analyse factors that effect demand for Cosmetics Products, driving factors, trends, and challenges faced by industry vendors, regional analysis, Segment by Type, Applications of whole Cosmetics Products industry.
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Description of Cosmetics Products Market: The global cosmetic products market was valued at USD 532.43 billion in 2017, and is expected to reach a market value of USD 805.61 billion by 2023, registering a CAGR of 7.14% during 2018-2023. The scope of the report is limited to various products, like hair care, skin care, oral care, color cosmetic, fragrances, soaps and shower gels, and sun care products. The study also emphasizes on various distribution channels, such as direct selling, supermarkets, specialty stores, pharmacies, and salons.
The cosmetics or beauty products industry, globally, is one sector which remains impervious to the ups and downs. Overall sales are affected in the event of an economic downturn. However, one can count on the sales of cosmetics to maintain a certain volume overall. This is because of continuing and growing usage of products by women, and increasingly by men across the world.
Aging Population is the Major Driver for the Market
Over the past two decades, declining fertility and mortality rates have resulted in a rise in the aging population, globally. Strong desire among men and women to retain youthful appearances has groomed and nurtured the cosmetics industry, worldwide. Rapidly aging demographics has led to a robust demand for anti-aging products in order to prevent wrinkles, age spots, dry skin, uneven skin tone, and even hair damages, creating room for new innovations in cosmetics, thus boosting the industry growth.
By 2050, the population over 60 years of age is expected to reach 2.09 billion. The life expectancy for women is predicted to rise from 82.8 years in 2005 to 86.3 years in 2050. Whereas for men, the expected increase for men in the corresponding period is from 78.4 to 83.6 years. Notably, the share of elderly people for cosmetic products is on rise.
E-commerce as a Distribution Channel is Expected to Grow Rapidly
Smartphone shipments increased to 1.53 billion in 2017, and is expected to grow till the end of the forecast period, thus increasing the e-commerce market. Cosmetic products, such as skin care, hair care, and fragrances are the most-sold products online. Thus, companies are increasingly focusing on online marketing campaigns that can increase their revenues with low investments. The market is witnessing a trend of multinational companies setting up websites and brand-specific Facebook accounts and Twitter profiles, in order to address the local taste. This sector is gaining prominence with the different products being available ‘only on online’.
Middle East & African Region is Expected to Grow with the Highest CAGR
The market is expected to gain prominence in the MEA countries, such as UAE, Saudi Arabia, and Israel. According to a recent survey, 21% of the people in this region admit to spending between AED 362 and AED 732 per month on health and beauty products, including the cost for maintaining hair and nails, and for hair removals, massages, and gym memberships, while a further 6.2% spend between AED 728 and AED 1125 to keep themselves looking appeasing.
UAE is a country with a high GDP per capita (USD 40,444 in 2012), and an administration which is modern, and yet has further growth to witness regarding women at workplace. As more women join the workplace, the need to look good, as well as purchase cosmetics has increased, and not just based on one’s preference. Furthermore, an increased influx of tourists has boosted cosmetic sales in the country.
Global Cosmetics Products Market: Manufacturers Segment Analysis (Company and Product introduction, Cosmetics Products Sales Volume, Revenue, Price and Gross Margin):
Cosmetics Products Market report passes on a fundamental overview of the Market including its definition, applications and advancement. Furthermore, the Industry report investigates the ecumenical Major Cosmetics Products Market players in detail. Cosmetics Products Market report gives key bits of Cautiousnessand subsisting status of the Players and is a basic Source obviously and heading for Companies and people energized by the Industry.
Reasons to Purchase this Report
The Global demand for Cosmetics Products Market is forecast to report strong development driven by consumption in major evolving markets. More growth opportunities to come up between 2018 and 2025 compared to a few years ago, signifying the rapid pace of change.
Cosmetics Products Market Historic Data (2012-2018):
- Industry Trends: Status and Outlook.
- Competitive Landscape: By Manufacturers, Development Trends.
- Product Revenue for Top Players: Market Share, Growth Rate, Current Market Situation Analysis.
- Market Segment: By Types, By Applications, By Regions/ Geography.
- Sales Revenue: Market Share, Growth Rate, Current Market Analysis.
Cosmetics Products Market Forecast (2018-2025):
- Market Size Forecast: Overall Size, By Type/Product Category, By Applications/End Users, By Regions/Geography.
- Key Data (Revenue): Market Size, Market Share, Growth Rate, Growth, Product Sales Price.
Cosmetics Products Market Influencing Factors:
- Market Environment: Government Policies, Technological Changes, Market Risks.
- Market Drivers: Growing Demand, Reduction in Cost, Market Opportunities and Challenges.
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In addition, company-to-company comparison (Company benchmarking) and product-to-product comparison (Product benchmarking) are included in the research work. It presents key competitive factors that are vital for companies to excel in challenging market conditions.