Cosmetics refer to products used to cleanse the skin and enhance the physical features of humans. These include products such as skincare, haircare, makeup, and fragrances. Since time immemorial, the human race has embraced altering their bodily aspects to enhance their self-esteem. Cosmetics play a vital role in complementing an individual’s inherent beauty and physical features. In the twenty-first century, beauty has been reimagined as a result of increased focus of consumers on skincare and cosmetics needs. The focus has ultimately shifted toward high end luxury products with premium quality and organic ingredients. Based on ethnobotanical knowledge, humans traditionally used natural resources as primary ingredients to produce skincare products. However, until recently, due to the increase in prevalence of skin and health care among individuals worldwide, there is excessive demand for plant extracts. The urge to improve current lifestyle along with growth in disposable income is considerably affecting the growth of the cosmetics market.
The expansion of high-income class and increase in travellers worldwide are two major factors positively impacting the growth of the luxury cosmetics market. Rise in disposable income levels of individuals across several regions along with the growth in GDP have inclined consumers focus toward luxury goods. Consequently, this shift in consumers purchasing approach positively influences the market for luxury cosmetic products. In addition, consumers are showing an increased preference for products manufactured using natural and organic ingredients, especially in skincare and fragrance segment. For the same reason, manufacturers are producing cosmetic products with organically derived ingredients. This trend among consumers and manufactures has ultimately enabled the expansion of the luxury cosmetics market. Furthermore, the increase in online shopping among consumers due to factors such as convenience, international reach, and wide choice of options, further fuels the growth of the luxury cosmetics market. However, short shelf life of personal care products, especially manufactured using natural ingredients limit the growth of the luxury personal care and cosmetics market.
On the other hand, the demand for halal cosmetics is emerging as the fastest growing segment especially in the Middle Eastern countries. This can be viewed as an opportunity by the manufacturers for further growth and expansion of the luxury cosmetics market.
The luxury cosmetics market is segmented based on type, product type, end user, distribution channel, and region. Based on type, it is categorized into conventional and organic. Based on product type, it is classified into skincare, haircare, makeup and fragrances. Based on end user, it is considered into men and women. Based on distribution channel, it is bifurcated into e-commerce, supermarket/hypermarket, specialty store/monobrand stores and others. Based on region, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the market include L’Oréal, Shiseido Company, Limited, Christian Dior, Puig, Coty Inc., Kao Corporation, Revlon, Inc., The Estée Lauder Companies Inc., Oriflame Cosmetics AG, and KOSÉ Corporation.
Key Benefits for Stakeholders
Key Market Segments
By Type
o Organic
o Conventional
By Product Type
o Skincare
o Haircare
o Makeup
o Fragrances
By End User
o Male
o Female
By Distribution Channel
o Supermarkets and Hypermarkets
o Specialty and Monobrand Stores
o E-commerce
o Others
By Region
North America
Europe
Asia-Pacific
LAMEA
The expansion of high-income class and increase in travellers worldwide are two major factors positively impacting the growth of the luxury cosmetics market. Rise in disposable income levels of individuals across several regions along with the growth in GDP have inclined consumers focus toward luxury goods. Consequently, this shift in consumers purchasing approach positively influences the market for luxury cosmetic products. In addition, consumers are showing an increased preference for products manufactured using natural and organic ingredients, especially in skincare and fragrance segment. For the same reason, manufacturers are producing cosmetic products with organically derived ingredients. This trend among consumers and manufactures has ultimately enabled the expansion of the luxury cosmetics market. Furthermore, the increase in online shopping among consumers due to factors such as convenience, international reach, and wide choice of options, further fuels the growth of the luxury cosmetics market. However, short shelf life of personal care products, especially manufactured using natural ingredients limit the growth of the luxury personal care and cosmetics market.
On the other hand, the demand for halal cosmetics is emerging as the fastest growing segment especially in the Middle Eastern countries. This can be viewed as an opportunity by the manufacturers for further growth and expansion of the luxury cosmetics market.
The luxury cosmetics market is segmented based on type, product type, end user, distribution channel, and region. Based on type, it is categorized into conventional and organic. Based on product type, it is classified into skincare, haircare, makeup and fragrances. Based on end user, it is considered into men and women. Based on distribution channel, it is bifurcated into e-commerce, supermarket/hypermarket, specialty store/monobrand stores and others. Based on region, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the market include L’Oréal, Shiseido Company, Limited, Christian Dior, Puig, Coty Inc., Kao Corporation, Revlon, Inc., The Estée Lauder Companies Inc., Oriflame Cosmetics AG, and KOSÉ Corporation.
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the current trends, estimations, and dynamics of the global luxury cosmetics market size from 2019 to 2026 to identify the prevailing opportunity.
- The key countries in all the major regions are mapped based on their market share.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- A comprehensive analysis of factors that drive and restrict the luxury cosmetics market growth is provided.
- An in-depth analysis of the market helps determine the prevailing market opportunities.
- The report includes details of the analysis of the regional and global markets, key players, market segments, application areas, and growth strategies.
Key Market Segments
By Type
o Organic
o Conventional
By Product Type
o Skincare
o Haircare
o Makeup
o Fragrances
By End User
o Male
o Female
By Distribution Channel
o Supermarkets and Hypermarkets
o Specialty and Monobrand Stores
o E-commerce
o Others
By Region
North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- France
- UK
- Italy
- Spain
- Switzerland
- Rest of Europe
Asia-Pacific
- Japan
- China
- Australia
- Rest of Asia-Pacific
LAMEA
- Latin America
- Middle East
- Africa
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Global Luxury Cosmetics Market, By Product Type
Chapter 5: Global Luxury Cosmetics Market, By Type
Chapter 6: Global Luxury Cosmetics Market, By End User
Chapter 7: Global Luxury Cosmetics Market, By Distribution Channel
Chapter 8: Global Luxury Cosmetics Market, By Region
Chapter 9: Competitive Landscape
Chapter 10: Company Profiles
Executive Summary
According to the report titled, 'Luxury Cosmetics Market by Type, Product Type, End User, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2019-2026,' the global luxury cosmetics market size was valued at $52,748.4 million in 2018 and is projected to reach $81,247.6 million by 2026, registering a CAGR of 5.6% from 2019 to 2026. Luxury cosmetics refer to the cosmetic products, which are used to cleanse the skin. They are manufactured using premium quality and organic ingredients, which are priced at a higher end as compared to consumer cosmetic products. Luxury cosmetics are primarily divided into skincare, haircare, makeup products, and fragrances, which are manufactured using premium quality ingredients and sold largely through specialty stores and e-commerce.The organic products segment in the luxury cosmetic market is anticipated to exhibit the highest market share during the forecast period. The global rise in health consciousness among individuals boosts the demand for organic and natural cosmetic products in various countries across the globe.
The global luxury cosmetics market is primarily driven by rise in consumer demand for products manufactured using naturally derived ingredients as compared to synthetic. In addition, the increase in use of e-commerce (brand) websites to purchase luxury products, which are not available in the home country further propels the growth of the market. Moreover, rise in disposable income in the developing nations has majorly influenced the cosmetics consumption pattern among individuals in those regions. In addition, the rise in awareness among consumers regarding halal cosmetics has to a great extent prompted the market’s growth worldwide.
According to global luxury cosmetics market analysis, the market is segmented based on type, product type, end user, distribution channel, and region. By type, it comprises organic and conventional products. Based on product type, it is classified into skincare, haircare, makeup and fragrances. By end user, it is bifurcated into male and female. By distribution channel, it is categorized into supermarket/hypermarket, e-commerce, specialty/monobrand stores, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings of the Luxury Cosmetics Market :
Based on product type, the skincare segment accounted for the highest share of luxury cosmetics market in 2018, growing at a CAGR of 5.30% and makeup segment growing fastest with a CAGR of 6.10% between 2019 and 2026.
Based on type, the conventional segment accounted for about 75% of the global luxury cosmetics market in 2018. However, the organic segment is expected to grow at a CAGR of 7.60% during the forecast period.
Based on end user, the women segment is accounted for the highest share in luxury cosmetics market in 2018, growing at a CAGR of 5.20% and men segment growing fastest with a CAGR of 6.60% between 2019 to 2026.
Based on distribution channel, the specialty store segment accounted for about 75% of the global luxury cosmetics market share in 2018. However, the e-commerce segment is expected to grow fastest at a CAGR of 7.50% during the forecast period.
Based on region, Europe accounted for about 33% of the global luxury cosmetics industry by share and is expected to grow at a CAGR of 3.9%.
The key players operating in the luxury cosmetics market are L’Oréal, Shiseido Company, Limited, Christian Dior, Puig, Coty Inc., Kao Corporation, Revlon, Inc., The Estée Lauder Companies Inc., Oriflame Cosmetics AG, and KOSÉ Corporation.
Companies Mentioned
- L’Oréal
- Shiseido Company
- Limited
- Christian Dior
- Puig
- Coty Inc.
- Kao Corporation
- RevlonInc.
- The Estée Lauder Companies Inc.
- Oriflame Cosmetics AG
- KOSÉ Corporation.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
LOADING...
