IMARC Group, a leading market research company, has recently releases report titled โLuxury Cosmetics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.โ The study provides a detailed analysis of the industry, including the global luxury cosmetics market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How Big is the Luxury Cosmetics Market?
| Report Attributes | Details |
| Market Size in 2022 | US$ 50.1 Billion |
| Market Forecast in 2028 | US$ 67.6 Billion |
| Growth rate (2023 to 2028) | CAGR of 4.9% |
| Base Year of the Analysis | 2022 |
| Forecast Period | 2023-2028 |
What are Luxury Cosmetics?
Luxury cosmetics are produced with organic and premium-quality ingredients available in sophisticated packaging at a higher price than drugstore products. These include makeup, haircare, skincare, and fragrances. They are environment-friendly and provide several benefits, including longevity, consistency, and high-end quality, with better ingredients that enhance the appearance without causing damage. As a result, luxury cosmetics are gaining traction among individuals across the globe to treat skin-related complications.
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What are the growth prospects and trends in the Luxury Cosmetics Industry?
The market is primarily driven by the rising demand for luxury cosmetics to solve hair skin-related concerns, including dandruff, hair fall, acne, and skin rashes. In addition, rapid urbanization, growing disposable incomes of individuals, especially in developing regions, and the increasing working women population are contributing to the market growth.
Moreover, the rising popularity of high-performing, natural, organic, fashionable, multi-colored, and luxury makeup products represents another major growth-inducing factor. Besides this, the expanding e-commerce sector and the easy availability of luxury cosmetics products through online and offline distribution channels are also providing a positive thrust to the market growth. Along with this, the market is also driven by the widespread adoption of halal cosmetics with proven vegan ingredients.
Furthermore, key players are investing in research and development (R&D) activities to launch anti-aging cosmetics, oral care products, and fragrances which is propelling the market growth. Other factors, including the growing upper-middle class population and the rising popularity of influencers on social media platforms promoting luxury cosmetics, are also creating a positive market outlook across the globe.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product Type:
- Skincare
- Haircare
- Makeup
- Fragrances
Breakup by Type:
- Organic
- Conventional
Market Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Specialty and Monobrand Stores
- Online Stores
- Others
Breakup by End User:
- Male
- Female
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Avon Products Inc. (Natura & Co.)
- Coty Inc.
- Estรฉe Lauder Companies Inc.
- Kao Corporation
- Kosรฉ Corporation
- L’Orรฉal S.A.
- LVMH Moรซt Hennessy Louis Vuitton
- Oriflame Cosmetics AG
- Puig, Revlon Inc.
- Shiseido Company Limited
- Tatcha LLC.
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