Global Cosmetics, Perfumes & Toiletries Market
The global cosmetics, perfumes and toiletries market is expected to reach a value of $ 342.96 billion by 2023, with a CAGR of 4.53% in 2018-2023.
The market definition for the cosmetics, perfumes and toiletries market would be one that takes into consideration oral hygiene products, bath and shower, lotions, creams, makeup, deodorants, hair care, perfumes and cosmetics. The products in this market are widely used in all age groups. These products are usually a mixture of chemicals and are used to take care of the body and to improve the texture of the skin.
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The cosmetics, perfumes and toiletries market can be classified into three main segments – based on type (skin care, hair care, makeup, perfumes, hygiene products and oral cosmetics), channel (sales online and offline), preferences (mass and premium).
Asia-Pacific recorded the highest growth rate due to increased demand from emerging economies like India, Indonesia and others during the forecast period.
This market is immune to recession. However, during the recession, people generally go for cheaper brands. Increasing disposable income, economic growth, heightened concerns about skin care and the vagaries of climatic conditions causing specific skin care needs have been identified as the main reasons for the growth of this Marlet. Trends in the use of sustainable products offering good value for money, increased interest in products with natural ingredients and multifunctional products prevail in this market.
Key growth factors
One of the main reasons for the expansion of this market is the increasing aging of the population due to the declining death rates in the global economy. This has resulted in a significant increase in the demand for anti-aging products to prevent wrinkles, dry skin, dark spots, and other age-related skin care issues. In a nutshell, the desire to maintain a youthful appearance gives a boost to the market.
The population of people over 60 is growing and is expected to reach 2.10 billion by 2050. The life expectancy of women and men is expected to increase, leading to increased demand for cosmetics and toiletries.
There has been a dramatic shift in preference from chemical cosmetics to natural products, thus creating space for research and development in the cosmetics and toiletries market. Since organic products provide better health benefits, this justifies why their demand is on the rise. In addition, the increase in the use of personal care products by men results in increased demand in this market.
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Threats and key players
The cosmetics, perfume and toiletries market faces fierce competition when it comes to establishing itself in the market. Therefore, consumers are spoiled by the countless choices available in the market due to the highly competitive nature of the market.
In addition, there is a lack of information on the major players in the market, leading consumers to buy counterfeit products on alternative media such as third-party websites. This leads to a negative impression on the original products.
L’oreal, Unilever NV, Gillette, The Procter & Gamble Company, Beiersdorf, Avon Products Inc, Shiseido, Kao Corp, Johnson & Johnson and Kimberly & Clark Corporation are some of the major players in the market.
What is covered in the report?
1. Panorama of the cosmetics, perfumes and toiletries market.
2. The current and forecast regional data on market size (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa) for Cosmetics, Perfumes and Toiletries market, based on the type (skin care, hair care, makeup, perfumes, hygiene products and oral cosmetics), channel (online sale and offline sale) and preference (mass and premium).
4. The current and projected regional market (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa) for cosmetics, perfumes and toiletries.
6. Market trends in cosmetics, perfumes and toiletries.
7. Market drivers and the cosmetics, perfumes and toiletries market.
8. Analysis of the company profiles of the main players operating in the market.
1. Understand the market demand for cosmetics, perfumes and toiletries to determine the viability of the business.
2. Identify the developed and new markets where cosmetics, perfumes and toiletries are consumed.
3. Formulate a product market strategy based on the position in the value chain and determine the optimal product placement.
4. Identify the gaps and correct them.
5. Develop strategies based on industry and economic factors for each of the segments.
6. Define competitive positioning by comparing products with key market players.
Comprehensive Cosmetics, Perfumes and Toiletries Market Research Report 2018 https://bit.ly/2KSSh6V
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