According to the latest report by IMARC Group, titled “Cosmetics Market Share: Global Industry Trends, Size, Growth, Opportunity and Forecast 2021-2026”, the global cosmetics market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 6% during 2021-2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Cosmetics refer to the beauty preparations made utilizing a mixture of synthetic chemical compounds for cleansing and improving the skin’s overall health. These products include soaps, perfumes, lipsticks, shampoos, skin moisturizers, shaving creams, nail polishes, etc. They also comprise functional cosmetics that target specific skin concerns, such as minimizing the appearance of fine lines and wrinkles, skin lightening, offering protection against ultraviolet (UV) rays, etc. Presently, cosmetics are extensively used across the globe owing to the prevalence of several skin-related complications.
The rising beauty consciousness among individuals and the shifting preferences towards customized cosmetic products are primarily driving the cosmetics market. Moreover, the increasing per capita income of consumers and the growing influence of social media are popularizing new, unique, and premium products and further bolstering the market growth. In addition to this, the e-commerce sector is also providing lucrative opportunities to manufacturers for widening their product portfolio and consumer base, which is acting as another growth-inducing factor. Furthermore, the elevating focus on maintaining a youthful appearance, coupled with the expanding geriatric population, is also catalyzing the market growth. Apart from this, the escalating adoption of vegan products and health concerns regarding the negative impact of petroleum-based ingredients are augmenting the global market. In the coming years, various collaborations between brands and dermatologists for the development of optimal and innovative offerings are expected to fuel the cosmetics market.
Cosmetics Market 2021-2026 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the global cosmetics market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
Key Market Segmentation:
The report has segmented the global cosmetics market on the basis of product type, category, gender, distribution channel and region.
Breakup by Product Type:
Breakup by Category:
Breakup by Gender:
Breakup by Distribution Channel:
Breakup by Region:
Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/cosmetics-marketKey highlights of the report:
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