Artificial Intelligence driven Marketing Communications
Since the Cosmetic Industry is such a vast industry, the profit margins are always on the surge. There are so many segments that fall into this industry, and each of these segments contributes to the ever-growing demand and supply of cosmetic products. There is a high rise in the disposable incomes generated through cosmetics, especially in the past decade. There has been growth in the economies and increased demand for skin and sun care products because of the persistent increase in the pollutants, varying climatic conditions, and sun exposure also contributes to the growth of the cosmetic market.
Market researchers have also observed a shift in preferences toward organic and natural products. Products that have loads of chemicals in them have witnessed a decrease in the overall sales, and they fail to gain today’s customers. Because these customers are getting more and more informed about what is good for their skin and what is not. Likewise, the products having a greater number of natural ingredients and organic products like Aloe Vera, Turmeric, Basil, Neem, Coconut, and other similar products have witnessed a hike in the market. This shift has given more scope for such products.
Hence, organic cosmetics and beauty products are created a potential growth opportunity for their manufacturers, and thus, the customers are also demanding products that can keep their skin safe. Thereby, more and more companies in the global cosmetic market are manufacturing products by giving more attention to research and development and have fostered an innovative approach.
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Major Cosmetic Companies Analysis
Avon Products, Inc.
Amore Pacific Corporation
Shanghai Jahwa Corporation
Procter & Gamble Co.
Shiseido Company, Limited
Johnson & Johnson
Henkel AG & Company, KGaA
The Global Cosmetic Market has been segmented based on mode of sale, gender, and the category of cosmetics. The category segment of the cosmetics market mainly includes sun and skin care products, perfumes and deodorants, hair care products, beard care products, makeup & color cosmetics, and fragrances. Among these categories, the skin and hair care hold a considerable share in the cosmetics products market. The mode of sale includes online and retail sales, where further classification can be done based on location, which can be a departmental store, supermarkets, online or e-commerce, brand outlets, and drug store as well.
In the North American and Australian regions, these products have a high supply because of high demand. This is similar in many other countries as well, including Korea, Japan, and India. In North America, the market is segmented in the following regions; Mexico, Jamaica, Canada, Bermuda, Bonaire, Dominica, United States of America, and the US Virgin Islands. In South America, maximum consumption is in the following states: Argentina, Bolivia, Peru, Ecuador, Chile, Venezuela, Suriname, Peru, and Colombia. And in Australia, most of the manufacturing and supply units are in New Zealand, the Solomon Islands, and Tonga. In Asia, the highest demand is in India, China, Indonesia, Pakistan, Maldives, Nepal, Afghanistan, Sri Lanka, and Bangladesh.
The cosmetic market is creating a huge opportunity for the manufacturers, and thus, the customers are also demanding products that can keep their skin safe.