In recent times, demand for makeup and skincare products has surged dramatically. Both men and women use it to enhance their overall appearance. The industry offers a wide variety of products, such as hair care, face care, lip care, and others. Additionally, the increasing demand for anti-aging creams and serums and the development of advanced tools and innovative packaging is attracting consumers. Besides, the new trend of personalized products for a specific person, based on their hair type, skin tone & texture, eye color, is generating traction. The manufactures are also trying to grab consumers’ attraction by coming up with sustainable packaging and chemical-free products to cater to the demand for every individual.
By category, the industry is segmented into hair care, skincare, makeup, and others. By gender, it is bifurcated into men and women. By distribution channel, it is divided into specialty stores, hyperindustrys/superindustrys, online channels, and others. Finally, based on region, the industry is categorized into North America, Europe, Asia Pacific, and the rest of the world.
The global cosmetics industry Research provides a detailed analysis of several factors, such as the key drivers and restraints that will impact growth. Additionally, the Research provides insights into the regional analysis that covers different regions, contributing to the growth of the industry. It includes the competitive landscape that involves the leading companies and the adoption of strategies to introduce new products, announce partnerships, and collaborate to contribute to the industry growth.
- Extensive information on factors estimated to affect the industry growth and share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects of industry in various geographical regions.
- The competitive landscape analysis on the industry as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the industry, underlining the growth rate and opportunities offered in the business.
In recent times, demand for personalized skincare, hair care is promoting manufacturers on introducing personalization and digitalization in cosmetic products to increase customers. For instance, in February 2020, L’Occitane Group announced the launch of its new range of personalized range called Duolab. The range has a countertop device that functions artificial intelligence (AI) technology. This device helps in finding out one’s skin condition to provide it a face care solution in the form of freshly blended cream. Therefore, increased awareness regarding grooming coupled with technological advancements is expected to support the cosmetics industry growth in upcoming years.