Cosmetics Market Report
Cosmetics Market by Category (Skin & Sun Care Products, Hair Care Products, Deodorants & Fragrances, and Makeup & Color Cosmetics), Gender (Men, Women & Unisex), Distribution Channel (Hypermarket/Supermarket, Specialty Stores, Pharmacies, Online Sales Channel, and Others), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2020–2027
Cosmetics Market Analysis
The global cosmetics market is anticipated to garner $457.8 billion in the 2020–2027 timeframe, growing from $375.5 billion in 2019 at a healthy CAGR of 5.1%.
Product launches, partnerships, and new technologies to attract customers and build an enhanced geographical presence of market players, is anticipated to drive the growth of the cosmetics market.
However, some of the side-effects associated with the use of synthetic cosmetic products that are laden with toxic chemicals such as paraben, sulphates, triclosan, and others are anticipated to restrain the market growth.
According to the regional analysis of the market, the Asia-Pacific cosmetics market is anticipated to grow at a CAGR of 6.3% by generating a revenue of $181.3 billion during the review period.
Cosmetics is any substance or product used to clean or improve the complexion of skin, hair, nails, and other body parts. Cosmetics are mixture of chemical compounds either prepared synthetically or derived from natural sources.
Impact Analysis of COVID-19 on the Global Cosmetics Market
The novel coronavirus pandemic had a devastating effect on several industries and the cosmetics market also experienced a negative impact owing to complete lockdown situation that led to complete store closures and major decline in demand for cosmetics across the world. Due to work from home rules, social distancing measures, and compulsion on masks, it has become less important for the people to wear makeup. Furthermore, the disruptions in the supply and demand and shortage of workers also had a negative effect on the market. Even if the people return to work, they will have to wear the masks, further declining the demand for makeup products. All these factors have negatively impacted the cosmetics market.
Several companies, with their technological advancements and various initiatives, are helping the society to recover from the chaotic situation. To cope up with the crisis many cosmetic companies started switching their manufacturing from cosmetics to hand sanitizers and cleaners. For instance, Coty Inc., a multinational beauty company founded in 1904, has introduced hydro-alcoholic hand sanitizer on March 25, 2020, to combat the COVID-19 virus. These hand sanitizers were distributed for free to medical services, emergency services staff, pharmacy staffs, and to the Coty employees who are working on manufacturing these hand sanitizers. Such initiatives by the cosmetic manufacturing companies is anticipated to generate significant revenue generation opportunities, amid the COVID-19 crisis.
Increasing Beauty Consciousness to Drive the Market Growth
The global cosmetics industry is witnessing a rapid growth mainly due to increase in beauty consciousness among people and growing trend for various cosmetic products, skin care products, beauty care products, hair care products, and others. The expansion of Korean cosmetic brands into the western countries, new cosmetic products having natural ingredients, and others are estimated to generate huge growth opportunities in the market. For instance, the consumer preferences have changed rapidly from synthesized products to green and natural products that are suitable for everyone. The use of bioengineered ingredients in cosmetics products is shown by “green labels”. These bioengineered molecules are derived from plants and optimized using biotechnology to redefine the concept of natural cosmetics. Along with women there is significant rise in the use of cosmetics in the daily routine of men which is further contributing to the market growth. Hence, the use of cosmetic products has become important in daily life. All these aspects are estimated to drive the market growth and demand during the analysis period.
To know more about global cosmetics market drivers, get in touch with our analysts here.
Side-effects of Chemical-based Cosmetics to Restrain Market Growth
Although the use of cosmetics can enhance your look, the chemicals used in manufacturing these products can harm skin and other body parts. Further, the application of cosmetics on daily basis can have adverse impact on the skin. For instance, long-term use of chemical rich shampoos, conditioners can lead to hair fall issues. In addition, the chemical-based cosmetic products may not be suitable for everyone as compared to the natural products. Such factors are estimated to limit the cosmetics market growth during the analysis period.
Latest Technologies to Create Massive Investment Opportunities
The launch of latest technologies in the world of beauty using augmented reality (AR), 3D printing, and Artificial Intelligence (AI) are anticipated to generate excellent growth opportunities in the market. For instance, the Sephora, a French multinational retailer of beauty products, launched augmented reality mirrors in its stores in February 2018. Using these mirrors, customers can try beauty products without touching them. This will ensure good hygiene and less use of sample products. Moreover, Amorepacific, a South Korean cosmetics company, installed augment reality mirrors at their stores in July 2020, to analyze the skin type of consumers and recommend the products to the customers based on skin type and texture. Similarly, the Coty Inc., an American multinational cosmetics company, introduced augmented reality mirrors in hairdressing salons in Jan 2019, to help customers in choosing appropriate haircut or hair dye. Thus, such company initiatives and launch of new technologies are estimated to accelerate the growth of cosmetics market.
To know more about global cosmetics market opportunities, get in touch with our analysts here.
Global Cosmetics Market, by Category
Based on type, the market has been divided into skin & sun care products, hair care products, deodorants & fragrances, and makeup & color cosmetics of which skin & sun care products is projected to generate maximum revenue and makeup & color cosmetics is accounted to hold the fastest growth.
Source: Research Dive Analysis
The skin & sun care products cosmetics sub-segment is predicted to have a dominating market share in the global market and is expected to register a revenue of $164.2 billion during the forecast period. The skin care and sun care products are used to enhance the appearance of skin, relieve skin conditions, and to prevent harmful effect of sun’s UV rays.
The skin & sun care products have various advantages such as anti-aging properties, concealing blemishes & marks, enhancing the skin tone & texture, as well as protection against Ultraviolet A (UVA) and Ultraviolet B (UVB) radiations that can cause melanomas. Various company initiatives to increase the demand for skin & sun care products are driving the market growth. For instance, on November 26, 2018, L’Oréal, the leading cosmetics company and La Roche-Posay, the company that specializes in dermatological skin care, launched, "My Skin Track UV", a wearable sun and skin safety sensor that helps people to track their exposure to pollution, humidity, UV, and pollen. This sensor can measure both the Ultraviolet A (UVA) and Ultraviolet B (UVB) rays. Thus, the benefits of skin & sun care products and latest technologies are predicted to drive the growth of this sub-segment in the review period.
The makeup & color cosmetics type is anticipated to have the fastest market growth, and it is predicted that the market shall generate a revenue of $126.8 billion by 2027, growing from $105.4 billion in 2019. The makeup & color cosmetics have a wide range of applications across lip products, facial make-up, eye make-up, and others. The products included under this sub-segment are nail paints, lipsticks, eye shadows, powders, and others. The rise in disposable income, increasing consciousness about appearance are major drivers for the makeup & color cosmetics type. The nail products have attracted huge demand due to their innovative textures and effects. Also, the demand for facial make-up such as concealers and bases are growing rapidly due to the attractive look it creates and anti-ageing properties. All these factors are anticipated to have a significant impact on the market growth during the analysis period.
Global Cosmetics Market, by Gender
Based on gender the analysis has been divided into men, women, and unisex. Out of these, the women sub-segment is the dominant and fastest growing sub-segment in the global market.
Source: Research Dive Analysis
The women sub-segment of the global cosmetics is anticipated to have rapid growth and surpass $233.4 billion by 2027, with an increase from $201.5 billion in 2019. The adoption of beauty and cosmetics products among women is high owing to increase in beauty-conscious female population. There is wide range of different varieties of cosmetic products available for females such as hair care products, skin care products, makeup products, nail care products, and others. All these aspects are estimated to drive the growth of women sub-segment during the forecast period.
The men sub-segment is predicted to acquire significant market share in the global market and is expected to register a revenue of $134.2 billion during the analysis timeframe owing to increasing awareness among men regarding grooming, personal hygiene and rise in disposable income. Furthermore, variety of cosmetic products such as face wash, creams, hair color, dye, and others are available to men. Many leading cosmetics manufacturers are appointing famous personalities for launching and promoting their products. For instance, on October 15, 2018, L'Oréal, a leading cosmetics company has appointed David Beckham, a professional footballer, to launch its first grooming brand HOUSE 99. HOUSE 99 includes various products skin care products, shaving products, hair products, and others. Such initiatives are anticipated to drive the market growth during the forecast period.
Global Cosmetics Market, by Distribution Channel
Based on distribution channel the analysis has been divided into hypermarket/supermarket, specialty stores, pharmacies, online sales channel, and others. Out of these, the hypermarket/supermarket is the dominant sub-segment and online sales channel is the fastest growing sub-segment in the global market.
Source: Research Dive Analysis
The hypermarket/supermarket sub-segment of the global cosmetics is anticipated to have dominant market share and surpass $171.4 billion by 2027, with an increase from $152.6 billion in 2019. The hypermarket/supermarket provides one stop access to various consumer goods with flexible timings. Also, attractive discount offers are given by hypermarket/supermarket. The users also get an option to try the products as sample products or testers that are available in the store. The products from various brands are present at hypermarket/supermarket so that users can choose the appropriate brand as per their choice. Also, competitive prices offered by various brands. All these aspects are estimated to drive the growth of hypermarket/supermarket sub-segment during the forecast period.
The online sales channel segment is estimated to grow at the fastest rate registering a revenue of $49.1 billion during the analysis timeframe owing to growing popularity of e-commerce platforms. E-commerce platform is an effective way to reach out to millions of customers located domestically or internationally. Using e-commerce platform, it becomes easier to advertise the products and connect to the customers compared to offline platforms. Further, various companies are focusing on partnerships, investments, and collaborations to increase their market presence. For instance, on December 10, 2020, L’Oréal, the leading cosmetic manufacturer, invested in Replika Software, Inc., an American social selling platform, to promote the company's e-commerce business.
Global Cosmetics Market, Regional Insights:
The cosmetics market was investigated across North America, Europe, Asia-Pacific, and LAMEA.
Source: Research Dive Analysis
The Market for Cosmetics in Asia-Pacific to be the Most Dominant & Fastest Growing
The Asia-Pacific cosmetics market accounted $135.6 billion in 2019 and is projected to register a revenue of $181.3 billion by 2027. The rapid increase in use of products such as hair gel, sun screen lotions, facial creams, wipes, hair cosmetics are estimated to drive the demand for Asia-Pacific market. Further, growing consciousness among people regarding appearance, increase in disposable income, and increase in demand for natural & organic cosmetic products are driving the market growth. For instance, China, has reflected increase in popularity for Traditional Chinese Medicine (TCM) in July 2017, that helps to boost circulation and blood flow. This technology has been applied to skincare cosmetics as well with the brand Yue Sai, which is owned by L’Oréal that uses TCM ingredients. In addition, the presence of Korean brands which is the queen of cosmetics such as Amore Pacific, Sulwhasoo, and others are driving the market growth. All these factors are estimated to drive the cosmetics market growth in the Asia-Pacific region during the forecast period.
The Market for Cosmetics in North America to Acquire Significant Growth
The share of North America cosmetics market is anticipated to grow at a CAGR of 3.5% by registering a revenue of $123.9 billion by 2027. The changing lifestyle habits of individuals, increase in demand for multifunctional, personal care, and presence of wide distribution network that ease the market players in advertising their products are estimated to drive the growth in the North America region. The product launch, acquisitions and developments are estimated to generate huge demand for cosmetics market in North America. For instance, on June 18, 2020, L’Oréal, a top cosmetic manufacturer, signed an agreement for acquisition of Thayers Natural Remedies, the natural skincare brand from Henry Thayer Company. This acquisition will expand the L’Oréal’s presence across North America. Such, company initiatives are estimated to drive the market growth, that will boost the North America cosmetics market in the upcoming years.
Competitive Scenario in the Global Cosmetics Market
Product launches, acquisitions, and product innovations are common strategies followed by major market players.
Source: Research Dive Analysis
Some of the leading cosmetics market players are Avon Products, Inc., L’ORÉAL S.A., Kao Corporation, Revlon, Inc., Oriflame Cosmetics S.A., Shiseido Company, Limited, Skin Food Co., Ltd., The Estée Lauder Companies Inc., Procter & Gamble Company, and Unilever Plc.
Porter’s Five Forces Analysis for the Global Cosmetics Market:
- Bargaining Power of Suppliers: The suppliers in the cosmetics market are high in number. Several companies are working on innovations, acquisitions, and product launches to stay ahead in the market and to avoid changing the supplier if the there is a hike in the price of a particular material.
Thus, the bargaining power suppliers is moderate.
- Bargaining Power of Buyers: Buyers have high bargaining power; as number of buyers are high and switching cost of the product is low. With many suppliers in the market, buyers have high power as cosmetics is governed by price, new products, composition of the product, and benefits offered.
Thus, the bargaining power of the buyers is high.
- Threat of New Entrants: The companies entering cosmetics market are adopting product launch and innovations to attract clients. Different companies entering the cosmetics market are adopting new techniques to develop best product at an affordable price. Also, these companies are implementing various effective strategies such as offering discounts.
Thus, the threat of the new entrants is moderate.
- Threat of Substitutes: There aren’t many alternatives available in the market.
Thus, the threat of substitutes is moderate.
- Competitive Rivalry in the Market: The competitive rivalry among industry leaders is high. The existing players are focusing more on product advancements acquisitions, and product launch to enhance their market presence.
Therefore, competitive rivalry in the market is high.
Historical Market Estimations
Base Year for Market Estimation
Forecast Timeline for Market Projection
North America, Europe, Asia-Pacific, LAMEA
Segmentation by Category
Segmentation by Gender
Segmentation by Distribution Channel
Key Companies Profiled
Q1. What is the size of the global cosmetics market?
A. The size of the global cosmetics market was over $375.5 billion in 2019 and is projected to reach $457.8 billion by 2027.
Q2. Which are the major companies in the cosmetics market?
A. Avon Products, Inc., L’ORÉAL S.A., Kao Corporation and Revlon, Inc. are some of the major players operating in the cosmetics market.
Q3. Which region, among others, possesses greater investment opportunities in the near future?
A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.
Q4. What will be the growth rate of the Asia-Pacific cosmetics market?
A. Asia Pacific cosmetics market is anticipated to grow at 6.3% CAGR during the forecast period.
Q5. What are the strategies opted by the leading players in this market?
A. Acquisitions, product innovations & product launch are the key strategies opted by the operating companies in this market.
Q6. Which companies are investing more on R&D practices?
A. Avon Products, Inc., L’ORÉAL S.A., Kao Corporation and Revlon, Inc. are investing more on R&D activities for developing new products and technologies.
1.2.Real time insights and validation
1.4.Assumptions and forecast parameters
2.4.Sales channel trends
3.1.Market segmentation & definitions
3.2.1.Top investment pockets
3.2.2.Top winning strategies
3.3.Porter’s five forces analysis
3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market
3.8.3.By sales channel
3.9.Market value chain analysis
3.9.1.Stress point analysis
3.9.2.Raw material analysis
3.9.4.Distribution channel analysis
126.96.36.199.Raw material suppliers
4.Cosmetics Market, by Product
4.1.1.Market size and forecast, by region, 2019-2027
4.1.2.Comparative market share analysis, 2019 & 2027
4.2.1.Market size and forecast, by region, 2019-2027
4.2.2.Comparative market share analysis, 2019 & 2027
4.3.1.Market size and forecast, by region, 2019-2027
4.3.2.Comparative market share analysis, 2019 & 2027
4.4.1.Market size and forecast, by region, 2019-2027
4.4.2.Comparative market share analysis, 2019 & 2027
4.5.1.Market size and forecast, by region, 2019-2027
4.5.2.Comparative market share analysis, 2019 & 2027
5.Cosmetics Market, by Category
5.1.1.Market size and forecast, by region, 2019-2027
5.1.2.Comparative market share analysis, 2019 & 2027
5.2.1.Market size and forecast, by region, 2019-2027
5.2.2.Comparative market share analysis, 2019 & 2027
6.Cosmetics Market, by Sales channel
6.1.1.Market size and forecast, by region, 2019-2027
6.1.2.Comparative market share analysis, 2019 & 2027
6.2.1.Market size and forecast, by region, 2019-2027
6.2.2.Comparative market share analysis, 2019 & 2027
6.3.1.Market size and forecast, by region, 2019-2027
6.3.2.Comparative market share analysis, 2019 & 2027
6.4.1.Market size and forecast, by region, 2019-2027
6.4.2.Comparative market share analysis, 2019 & 2027
6.5.1.Market size and forecast, by region, 2019-2027
6.5.2.Comparative market share analysis, 2019 & 2027
7.Cosmetics Market, by Region
7.1.1.Market size and forecast, by product, 2019-2027
7.1.2.Market size and forecast, bycategory, 2019-2027
7.1.3.Market size and forecast, by sales channel, 2019-2027
7.1.4.Market size and forecast, by country, 2019-2027
7.1.5.Comparative market share analysis, 2019 & 2027
188.8.131.52.Market size and forecast, by product, 2019-2027
184.108.40.206.Market size and forecast, by category, 2019-2027
220.127.116.11.Market size and forecast, by sales channel, 2019-2027
18.104.22.168.Comparative market share analysis, 2019 & 2027
22.214.171.124.Market size and forecast, by product, 2019-2027
126.96.36.199.Market size and forecast, by category, 2019-2027
188.8.131.52.Market size and forecast, by sales channel, 2019-2027
184.108.40.206.Comparative market share analysis, 2019 & 2027
220.127.116.11.Market size and forecast, by product, 2019-2027
18.104.22.168.Market size and forecast, by category, 2019-2027
22.214.171.124.Market size and forecast, by sales channel, 2019-2027
126.96.36.199.Comparative market share analysis, 2019 & 2027
7.2.1.Market size and forecast, by product, 2019-2027
7.2.2.Market size and forecast, by category, 2019-2027
7.2.3.Market size and forecast, by sales channel, 2019-2027
7.2.4.Market size and forecast, by country, 2019-2027
7.2.5.Comparative market share analysis, 2019 & 2027
188.8.131.52.Market size and forecast, by product, 2019-2027
184.108.40.206.Market size and forecast, by category, 2019-2027
220.127.116.11.Market size and forecast, by sales channel, 2019-2027
18.104.22.168.Comparative market share analysis, 2019 & 2027
22.214.171.124.Market size and forecast, by product, 2019-2027
126.96.36.199.Market size and forecast, by category, 2019-2027
188.8.131.52.Market size and forecast, by sales channel, 2019-2027
184.108.40.206.Comparative market share analysis, 2019 & 2027
220.127.116.11.Market size and forecast, by product, 2019-2027
18.104.22.168.Market size and forecast, by category, 2019-2027
22.214.171.124.Market size and forecast, by sales channel, 2019-2027
126.96.36.199.Comparative market share analysis, 2019 & 2027
188.8.131.52.Market size and forecast, by product, 2019-2027
184.108.40.206.Market size and forecast, by category, 2019-2027
220.127.116.11.Market size and forecast, by sales channel, 2019-2027
18.104.22.168.Comparative market share analysis, 2019 & 2027
22.214.171.124.Market size and forecast, by product, 2019-2027
126.96.36.199.Market size and forecast, by category, 2019-2027
188.8.131.52.Market size and forecast, by sales channel, 2019-2027
184.108.40.206.Comparative market share analysis, 2019 & 2027
7.2.11.Rest of Europe
220.127.116.11.Market size and forecast, by product, 2019-2027
18.104.22.168.Market size and forecast, by category, 2019-2027
22.214.171.124.Market size and forecast, by sales channel, 2019-2027
126.96.36.199.Comparative market share analysis, 2019 & 2027
7.3.1.Market size and forecast, by product, 2019-2027
7.3.2.Market size and forecast, by category, 2019-2027
7.3.3.Market size and forecast, by sales channel, 2019-2027
7.3.4.Market size and forecast, by country, 2019-2027
7.3.5.Comparative market share analysis, 2019 & 2027
188.8.131.52.Market size and forecast, by product, 2019-2027
184.108.40.206.Market size and forecast, by category, 2019-2027
220.127.116.11.Market size and forecast, by sales channel, 2019-2027
18.104.22.168.Comparative market share analysis, 2019 & 2027
22.214.171.124.Market size and forecast, by product, 2019-2027
126.96.36.199.Market size and forecast, by category, 2019-2027
188.8.131.52.Market size and forecast, by sales channel, 2019-2027
184.108.40.206.Comparative market share analysis, 2019 & 2027
220.127.116.11.Market size and forecast, by product, 2019-2027
18.104.22.168.Market size and forecast, by category, 2019-2027
22.214.171.124.Market size and forecast, by sales channel, 2019-2027
126.96.36.199.Comparative market share analysis, 2019 & 2027
188.8.131.52.Market size and forecast, by product, 2019-2027
184.108.40.206.Market size and forecast, by category, 2019-2027
220.127.116.11.Market size and forecast, by sales channel, 2019-2027
18.104.22.168.Comparative market share analysis, 2019 & 2027
7.3.10.Rest of Asia Pacific
22.214.171.124.Market size and forecast, by product, 2019-2027
126.96.36.199.Market size and forecast, by category, 2019-2027
188.8.131.52.Market size and forecast, by sales channel, 2019-2027
184.108.40.206.Comparative market share analysis, 2019 & 2027
7.4.1.Market size and forecast, by product, 2019-2027
7.4.2.Market size and forecast, by category, 2019-2027
7.4.3.Market size and forecast, by sales channel, 2019-2027
7.4.4.Market size and forecast, by country, 2019-2027
7.4.5.Comparative market share analysis, 2019 & 2027
220.127.116.11.Market size and forecast, by product, 2019-2027
18.104.22.168.Market size and forecast, by category, 2019-2027
22.214.171.124.Market size and forecast, by sales channel, 2019-2027
126.96.36.199.Comparative market share analysis, 2019 & 2027
188.8.131.52.Market size and forecast, by product, 2019-2027
184.108.40.206.Market size and forecast, by category, 2019-2027
220.127.116.11.Market size and forecast, by sales channel, 2019-2027
18.104.22.168.Comparative market share analysis, 2019 & 2027
22.214.171.124.Market size and forecast, by product, 2019-2027
126.96.36.199.Market size and forecast, by category, 2019-2027
188.8.131.52.Market size and forecast, by sales channel, 2019-2027
184.108.40.206.Comparative market share analysis, 2019 & 2027
8.1.4.Recent strategic moves &developments
8.2.4.Recent strategic moves & developments
8.3.4.Recent strategic moves & developments
8.4.Procter & Gamble
8.4.4.Recent strategic moves & developments
8.5.4.Recent strategic moves & developments
8.6.4.Recent strategic moves & developments
8.7.4.Recent strategic moves & developments
8.8.Johnson & Johnson Services, Inc.
8.8.4.Recent strategic moves & developments
8.9.4.Recent strategic moves & developments
8.10.4.Recent strategic moves & developments
Cosmetics enhance the overall appearance of an individual and thus have become one of the essential products in everyday life. The cosmetics industry offers a huge variety of products, including lip care, hair care, and face care, which are essential for end-users to fulfill their particular requirements. The manufacturers of cosmetic products are increasingly focusing on developing and producing a diverse product portfolio to cater to particular requirements of every individual.
Impact of COVID-19 on the Industry
The global cosmetics market is anticipated to observe accelerating growth during the COVID-19 pandemic. This is majorly owing to the increasing manufacturing of hand sanitizers and cleaning agents by prominent players of the industry during the pandemic. In addition, the leading companies operating in the global market are entering into strategic partnerships and collaborations to sustain in the COVID-19 crisis. For instance, in June 2020, Coty Inc. and Kim Kardashian West proclaimed to have entered into a strategic relationship to further develop Kardashian West’s business globally. The aim of Kardashian West and Coty together is to enter into new beauty categories and globally expand the business beyond her existing product lines.
Key Developments in the Industry
The key companies operating in the industry are adopting various growth strategies & business tactics such as partnerships, mergers & acquisitions, collaborations, and launches to acquire a robust position in the overall market, which is consequently helping the cosmetics market to grow exponentially.
For instance, in August 2018, L’Oréal entered into a strategic agreement to acquire Logocos Naturkosmetik AG, a German beauty company pioneered in natural cosmetics with the brand Sante and other brands Logona. All the brands of the company are vegan, and bio certified with a wide range of products using natural ingredients and their own plant extracts derived from organic farming.
In December 2018, Avon Products, Inc., a multi-level marketing company in household, beauty, and personal care categories, announced the launch of new K-beauty collection products with an extensive range of new & innovative products from Korea.
In September 2020, Nordic Cosmetics GmbH, a subsidiary of the European CBD product manufacturer, Nordic Oil, announced the launch of Nordic Cosmetics’ flagship e-commerce store on Tmall. Tmall is the business-to-consumer online retail platform which is operated by Alibaba Group. It is the first CBD flagship store that is approved on the invite-only Tmall platform.
Forecast Analysis of Global Cosmetics Market
The global cosmetics market is anticipated to observe a noteworthy growth over the forecast period, due to incorporation of nanotechnology into development of cosmetics to produce effective and most advanced beauty care products. Conversely, the availability of advanced beauty treatments to rejuvenate skin, prevent aging, and others is estimated to hinder the global market growth in the coming future.
The growing usage of natural ingredients in skincare products and the rising disposable income of individuals across the globe are the significant factors anticipated to fuel the growth of the global cosmetics market during the forecast period. According to a latest report published by Research Dive, the cosmetics market is expected to garner $457.8 billion over the forecast period by 2027. Geographically, the Asia Pacific cosmetics market is estimated to dominate the global industry, owing to growing awareness among the people regarding cosmetics and beauty care products in the region. The key players functioning in the global industry include Unilever, L'Oréal, ESTEE LAUDER, Coty Inc., Procter & Gamble, Shiseido Co. Ltd., Johnson & Johnson Services, Inc., Avon, Kao Corporation, and BEIERSDORF GLOBAL.