Global Cosmetics Market is Estimated to Reach $488 Billion by 2025, Says Accurize Market Research
Global Cosmetics Market report published by Accurize Market Research forecast that the global market is expected to reach $488 billion by 2025; growing at a CAGR of 3.7% from 2017 to 2025. By geography, Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
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High demand for skincare products to drive the growth of the market
Changing consumers’ standard of living, rise in disposable income of consumers in many countries across the globe, and high demand for skincare products are factors boosting the growth of global cosmetics market are. Though, rising awareness about adverse effects of cosmetics may hamper the market growth. However, possible emerging market for cosmetics would provide several growth opportunities for the market in the future years.
Market Segmentation
Global Cosmetics market is split into category, mode of sale, gender, and geography are the major segments considered in the global cosmetics market. By category, the market is bifurcated into skin and sun care, hair care, deodorants, makeup and color, and fragrances. By mode of sale, the market is categorized into retail, and online. Gender includes men, and women.
North America, Europe, Asia-Pacific and rest of the world (RoW) are the geographical segments of the market. North America is further bifurcated into countries namely; U.S., Canada and Mexico. Europe covers countries like Russia, U.K., Germany, France, Italy and Rest of Europe. Asia-Pacific covers China, India, Japan, South Korea and Rest of Asia Pacific. Rest of the World (RoW) covers South America, Middle East and Africa.
"Skin and Sun accounted for the largest market share in the category segment", says Accurize
Skin and Sun care accounted for the largest market share in 2017, in the category segment, and is anticipated to continue its dominance during the forecast period 2017 – 2025. The growth is attributed to the consistent & widespread use of these products across the globe. Retail accounted for the largest market share in 2017, in the mode of sale segment, and is expected to continue its dominance during the forecast period 2017 – 2025. The growth is attributed to the fact that many customers still give preference to retail stores for buying cosmetic products.
"Europe dominated the global market with the highest market share over the forecast period", says Accurize
Europe dominated the global market with largest market share of 33.6% in 2017 and expected to continue its dominance during the forecasted period. The growth is attributed to the factors such as relatively high disposable income, inclination towards spending on appearance, and high penetration rate in the region.
Top players in the market
Major players active in the market are revlon Inc., L’Oreal Group, Oriflame Cosmetics AG, Avon Products, Inc., The Estée Lauder Companies, Inc., Alticor Inc., Kao Corp., Procter & Gamble Co., Skinfood, and Shiseido Co. Ltd., among others.
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