Global Luxury Cosmetics Market By Type (Organic and Convectional Products), Product Type (Skincare, Haircare, Makeup and Fragrance), End-User (Male and Female), Distribution Channel (Supermarkets and Hypermarkets, Speciality and Monobrand Stores, E-Commerce and Others) – Industry Trends and Forecast to 2029
Market Analysis and Size
There are two consumer demographics competing for the best in personal care and cosmetics. The incorporation of luxury cosmetics and personal care products into the lives of the general urban population has only been made possible in large part due to the consumer pool's increasing disposable income. Previously aimed only at the wealthy and elite, the global luxury personal care and cosmetics market is now filling up with products aimed at the urban elite and even the general population.
Data Bridge Market Research analyses that the luxury cosmetics market was valued at USD 45.88 billion in 2021 and is expected to reach the value of USD 75.37 billion by 2029, and is likely to grow at a CAGR of 6.40% during the forecast period during the forecast period of 2022 to 2029. Growth in the market is being driven by an increase in the disposable income of the population in developing countries. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behavior.
Market Definition
Cosmetics are products that are used to clean and beautify the physical features of humans. Luxury cosmetics are products that are manufactured with premium and organic quality ingredients and are sold at a higher price than drugstore products.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Organic and Convectional Products), Product Type (Skincare, Haircare, Makeup and Fragrance), End-User (Male and Female), Distribution Channel (Supermarkets and Hypermarkets, Speciality and Monobrand Stores, E-Commerce and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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L’Oréal, (France), Shiseido Company, Limited (Japan), Christian Dior (France), Puig (Spain), Coty Inc. (U.S.), Kao Corporation (Japan), Revlon (U.S.), The Estée Lauder Companies Inc. (U.S.), Oriflame Cosmetics AG (Switzerland), KOSÉ Corporation (Japan), CHANEL (U.K.)
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Market Opportunities
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Luxury cosmetics Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Increasing demand for healthy products
Growing health concerns are a critical factor driving market growth, as is the expansion of e-commerce through the infiltration of the internet, which has created international reach and allows consumers to choose from a variety of options, among other factors driving the luxury cosmetics market.
- Rise in the demand for halal cosmetics
Demand for halal cosmetics, particularly from Middle Eastern countries, will drive the growth of the luxury cosmetics market during the forecast period.
Opportunities
Furthermore, due to the development of various e-commerce companies, major vendors in this industry are choosing to sell through online platforms in order to secure a more diverse customer base, as it allows them to advertise their products with large discounts and offers to entice consumers.
Restraints
On the other hand, the availability of counterfeit products will act as a restraint, further challenging the growth of the luxury cosmetics market during the forecast period.
This luxury cosmetics market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the luxury cosmetics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Luxury Cosmetics Market
The COVID-19 pandemic has had a negative impact on several industries around the world, including the luxury cosmetics industry. With consumption at a halt and inventories piling up in warehouses, business priorities have shifted to liquidation strategies and inventory management while assessing post-pandemic consumer habit changes. Given the combined effect of outlet closures and frugality as a result of the rapidly deteriorating economic situation, the discretionary nature of luxury cosmetics made it one of the most severely affected industries by the pandemic. Furthermore, brands reported a decline in consumer demand for athletic luxury cosmetics as consumers reduced or delayed discretionary spending in response to the effects of COVID-19, owing to higher unemployment rates and lower consumer confidence.
Global Luxury Cosmetics Market Scope
The luxury cosmetics market is segmented on the basis of type, product type, end-user and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Organic
- Convectional Products
Product Type
- Skincare
- Haircare
- Makeup
- Fragrance
End user
- Male
- Female
Distribution channel
- Hypermarkets
- Online Channels
- Specialty Stores
- Monobrands tores
- E-commerce
- Others
Luxury Cosmetics Market Regional Analysis/Insights
The Luxury cosmetics market is analysed and market size insights and trends are provided by country, type, product type, end-user and distribution channel as referenced above.
The countries covered in the Luxury cosmetics market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America..
Europe holds the largest market share of the luxury cosmetics market, particularly in the skincare category. Consumers in this region are very picky about their skin care regimens and prefer products made with high-quality ingredients.
On the other hand, the Asia-Pacific region, is expected to grow rapidly during the forecast period of 2022 to 2029 because of the rapid urbanization as well as the rising consumer interest in different and premium products.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Luxury Cosmetics Market Share Analysis
The luxury cosmetics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to luxury cosmetics market.
Some of the major players operating in the luxury cosmetics market are:
- L’Oréal, (France)
- Shiseido Company, Limited (Japan)
- Christian Dior (France)
- Puig (Spain)
- Coty Inc. (U.S.)
- Kao Corporation (Japan)
- Revlon (U.S.)
- The Estée Lauder Companies Inc. (U.S.)
- Oriflame Cosmetics AG (Switzerland)
- KOSÉ Corporation (Japan)
- CHANEL (U.K.)
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