Industry Background:
Luxury skincare products are costly products which are intended to soften, moisturize, hydrate skin, and remove makeup, dirt, oil, & dead skin cells. Skincare products market has high growth prospects owing to the increasing working women population and improved spending capacity by them. Also, increasing demand for natural and organic skincare products is generating lucrative opportunities and propelling players to innovate new products according to the changing customer preference. Some of the major players in the luxury skincare market are SkinCeuticals, SkinMedica Inc., Obagi, L’Oréal S.A., Avène, Unilever, and others. The luxury skincare market is expected to witness augmenting demand for facial toners, serums, face masks, and other products owing to variable climatic conditions, and skin aging thereby contributing towards revenue growth.This growth is primarily driven by Growing Need for Skin Care Products Owing To Changing Climatic Conditions
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Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Volume Unit | K Unit |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Personal Products sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as The Estée Lauder Companies, Inc. (United States), L’Oréal S.A. (France), Coty (United States), SkinCeuticals (United States), SkinMedica Inc. (United States), Obagi (United States), Avène (France), EMINENCE ORGANIC SKIN CARE (United States), Colgate-Palmolive (United States) and Premium cosmetics (United Kingdom), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
October 2018, L’Oreal Paris collaborated with fashion designer Sabyasachi Mukherjee to launch L’Oreal Paris x Sabyasachi, a 21 piece limited-edition line of color cosmetics which is a festive makeup collection.
December 2018, MyGlamm launch an exclusive cosmetic collection, Manish Malhotra Haute Couture Makeup. The premium collection includes 46 products ranging from glosses, nail varnishes highlighters, eyeshadow palettes, and lipsticks.The global luxury skincare products market is highly fragmented owing to the number of players present in the market. Market leaders are focusing on product innovation and outer look owing to increasing demand for natural ingredients in skincare products. Such niche level up-gradation is expected to maintain demand for skincare products, thereby ensuring long-standing of the industry.
Influencing Trend:
Attractive Promotional and Marketing Strategies with Celebrity Endorsements and Product Innovation According To Customer Preferences
Market Growth Drivers:
Growing Need for Skin Care Products Owing To Changing Climatic Conditions, Increasing Demand from the Working Women Population and Changing Lifestyle Standard Fuelled By Rise in Disposable Income
Challenges:
Advanced Medical Beauty Treatments, Easy Availability of Forged Products and High Competition by Low Priced Alternatives
Restraints:
High Cost of Luxury Skin Care Products, Side Effects of Chemical Based Cosmetics and Less Shelf Life of the Skin Care Products
Opportunities:
Increasing Online Sales Channel for Luxury Skin Care Products, Growing Demand for Organic and Natural Skin Care Products and Rising Demand from the Developing Economies
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Luxury Skin Care Products Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Luxury Skin Care Products Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Luxury Skin Care Products players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Luxury Skin Care Products Study Sheds Light on
The Luxury Skin Care Products Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Luxury Skin Care Products industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Luxury Skin Care Products industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.