Beauty Products Market: Global Industry Analysis and Forecast (2023-2029)

Beauty Products Market was valued at US$ 382.4 Bn. in 2022 and is expected to grow at US$ 598.7 Bn. in 2029. Beauty Products Market size is expected to grow at a CAGR of 6.61% through the forecast period.
Global Beauty Products Market Overview:
The Beauty products are the materials and devices made and sold for the purpose of enhancing the physical attractiveness of users. In current times, request for makeup & skincare products has poured intensely. Both men & women use it to improve their complete look. The beauty market proposals an extensive range of products, like hair care, and others. Also, the growing demand for anti-aging serums & the growth of advanced tools & inventive packaging is appealing to customers.To know about the Research Methodology :- Request Free Sample Report

Beauty products are any type of product that is used to enhance or improve the appearance of a person's physical features. This can include anything from makeup and hair products to skin care and perfume. The use of beauty products can be an important part of self-care, and can help people feel more confident and attractive.

The report explores the Beauty Products Market segments (Type, Application, Distribution Channels and Region). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). The MMR market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2018 to 2022. The report investigates the Beauty Products Market drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Beauty Products Market contemporary competitive scenario.

2022 is considered as a base year to forecast the market from 2023 to 2029. 2022’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years' trends are considered while forecasting the market through 2029. 2022 is a year of exception and analysis especially with the impact of lockdown by region.
Beauty Products Market Dynamics:
Rising awareness of availability of products:

The rising consciousness of consumers about their appearance is one of the primary drivers which leads to the growth of the beauty products market. The introduction of cosmetics with natural, non-toxic, and organic ingredients is also rising day-by-day which drives the market growth. The cosmetics are available easily through the various distribution channels such as specialty stores, pharmacies, and beauty salons has led to the growth of the market in term of value sales. The rising consumer awareness about using cosmetics that are vegan, organic, natural, and, at the same time, good for the planet leads to the rising in the beauty products market growth.

Growing demand for anti-aging products:

The population of elderly aged people are rising. The customers, especially the elderly populace, are progressively looking for means and products to preserve and improve their appearance to look young. The desire to retain youth and maintain appearance for elderly populace is one of the major factors which drives the beauty products market. The anti-aging products helps to reduce wrinkles and black spots as well as hydrate the skin, improve skin texture, and protect from UV rays. The e-commerce is also influencing these people to buy products and improve their appearance by looking young. This is also one of the major driver which leads to the growth of beauty products market.

Easy availability of faked or copy product:

The faked or copy products are instigating a substantial dent on the market. They can be dangerous for the skin as they are contaminated and different types of chemicals are used for their making. They are also made of cheap ingredients which have harmful side effects such as hair loss, itching, and red scars. This restrains the growth of the beauty products market. The sale of faked or copy products affects not only the revenue of mainstream brands, but also their prevailing brand equity. These copy products are easily available on the online channels. The price of a MAC lipstick available on the brand’s official website is $22.18, while it’s copy product is available for just $2.93. This is the major restraining factor which hinders the growth of the beauty product market.

Growing awareness regarding the probable side effects of using beauty products:

The production of beauty products is rising as the consumers are more attracted towards these products and there is rise in the usage of these beauty products. Various chemicals are used as ingredients for making beauty and personal care products can have adverse side effects on the skin. The long-term and extensive use of haircare commodities which contains harsh chemicals can lead to numerous hair problems such as hair fall, premature greying, and dry and lacklustre hair. Due to these factors, the awareness among the consumers regarding the side effects of using beauty products may lead to hinder the growth of the market.

High manufacturing and marketing costs:

Rise and fall in market prices are affected by supply, demand, and the cost of goods/services sold. Higher demand will put upward price pressure on prices. Higher competition among Cosmetics & Beauty Products Manufacturing companies will put a downward pressure on prices. As there is rise in the buying of the beauty products, there is rise in the production cost. As the demand for the beauty products rises, there is rise in the manufacturing and the marketing costs. The high manufacturing and marketing cost are the factors which restrain the growth of the market. The use of beauty products has increased worldwide, given the various economic, social, and cultural changes across geographies. Consumers have started to evaluate the effectiveness of the product before making a purchase decision. These leads to the hampering of the growth of the beauty products market during the forecast period.

COVID-19 Impact on Beauty Products Market:

The COVID-19 pandemic has also had a significant impact on the growth of the market as the government imposed regulations and lockdown. The pandemic disrupted the production as well as supply of beauty and personal care items. The situation was exacerbated by strict restrictions on movement, as well as social distancing and stay-home policies. Demand for new orders from retailers came to a standstill as major markets were under lockdown and commodity sales took a major hit, both through online and offline channels. There is no supply and demand of the products and there are no labours to work in the manufacturing sector for making beauty products. There is adverse effect on the growth of the beauty products during the COVID-19 pandemic.
Beauty Products Market Segment Analysis:
Based on Type, The segment skin care is dominating the market with the highest market share of XX% in year 2022. The skin care segment cover products that help consumers in maintaining and repairing their skin. The rising popularity of cosmetics containing natural and organic ingredients such as herbs, plant extracts, and fruit extracts are the factors which leads to the growth of the market during the forecast period. The skincare products have many advantages, such as rejuvenating and protecting the skin, treating wrinkles and signs of aging, reducing the occurrence of acne and lightening spots, and keeping the skin healthy and young. The skincare segment consists of moisturizers, face and neck creams, cleansers, hand and body lotions, and other products which helps to keep the skin shinny and healthy. The growing interest of consumers in skincare products which formulate with natural and organic ingredients leads to the growth of the beauty products market.

The hair care segment is expected to be the second-fastest growing segment with CAGR of XX% during the forecast period. As haircare products are used to solve various hair problems like frizzy hair, split ends, hair fall, dandruff, and dry or itchy scalp, thus the consumers are more attracted towards their haircare treatment and this leads to the growth of the market in haircare segment. The market will be driven by the availability of a wide range of haircare products, such as shampoo, conditioner, hair gel, hair wax, hair serum, hair oil, and hair colorants, in different formats and for various customer requirements during the forecast period.

Based on Distribution Channel, the market is segmented based on Hypermarkets/Supermarkets
Online sales channels
Offline sales channels

Specialty Stores

Drug Store

The hypermarket/supermarket segment held the largest Beauty products market share in 2022 and is expected to dominate the market over the forecast period. The Hypermarket/supermarket is popular due to availability of the wide range of consumer goods under a single roof with convenient operation timing. Increase in urbanization and competitive pricing between other supermarkets is gaining popularity in the developed region, and is expected to boost the Beauty products market growth. Expanding popularity of on-line stores and increased use of smartphones worldwide is factor driving the market growth over the forecast period.
Regional Insights:
North America region is expected to witness significant growth at a CAGR of xx% through the forecast period owing to the growing occurrence of pores & skin diseases, and growing capacity packages of dermatology pills within the zones. The United States followed by Canada, is the major market for dermatology medicines. The huge prices of skin diseases include doctor appointments, prescribed medications for treating with these circumstances, in adding to oblique expenditures owing to productivity losses.

Asia-Pacific is dominating the market with xx% share in the year 2022. There is rise in number of working women in countries such as China and India which grows interest in public and spending capacity for beauty and personal care products. Moreover, the rising young population in these countries with access to the internet is expected to offer immense opportunities for the growth of the regional market over the forecast years.

The objective of the report is to present a comprehensive analysis of the Beauty Products Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Beauty Products Market dynamic, structure by analyzing the market segments and projecting the Beauty Products Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the Beauty Products Market make the report investor’s guide.
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Global Beauty Products Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US$ 382.5 Bn.


Forecast Period 2023 to 2029 CAGR:
6.61%
Market Size in 2029:
US$ 598.7 Bn.


 Segments Covered:
by Type
1. Facial care
2. Makeup-remover
3. Hand care
4. Depilatories
5. Skin Care Products
6. Hair Care Product
7. Makeup and Perfume


by Distribution Channel
1. Supermarket & Hypermarket
1.1. Online sales channels
1.2. Offline sales channels
2. Specialty Stores
3. Drug Store



Beauty Products Market by Region
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
North America (United States, Canada and Mexico)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Key Players
1. L’Oréal International
2. Avon Product Inc.
3. Proctor and Gamble Company
4. Unilever PLC
5. Oriflamme Cosmetics S.A.
6. Revlon, Inc.
7. Kao Corporation
8. The Estee Lauder Company Inc.
9. Beauty Food
10. Shiseido Company, Limited
11. Johnson & Johnson
12. Bayer AG
13. Henkel AG & Co. KGaA
14. Clarins
15. Alticor Inc.
16. Amway Corp.
17. Beiersdorf AG
18. Yves Rocher
19. Shiseido Company Limited
20. Maybelline New York
21. Nykaa E-Retail Pvt. Ltd
22. Mary Kay Inc.

Frequently Asked Questions:

1] What segments are covered in the Beauty Products Market report?
Ans. The segments covered in the Beauty Products Market report are based on Type, Distribution Channels and region.

2] Which region is expected to hold the highest share in the Beauty Products Market?
Ans. North America and Asia-Pacific region is expected to hold the highest share in the Beauty Products Market.

3] What is the market size of the Beauty Products Market by 2029?
Ans. The market size of the Beauty Products Market by 2029 is expected to reach US$ 598.7 Bn.

4] What is the forecast period for the Beauty Products Market?
Ans. The forecast period for the Beauty Products Market is 2023-2029.

5] What was the market size of the Beauty Products Market in 2022?
Ans. The market size of the Beauty Products Market in 2022 was valued at US$ 382.4 Bn.