Luxury Cosmetics Market Scope
Luxury Cosmetic includes different products such as skin care and sun care products, hair care products, deodorants, fragrances and make up or color cosmetics. Rising purchasing power of consumers, upsurge in consciousness among men regarding personal grooming and transition in the lifestyle of the consumers these factors will act as key driver of luxury cosmetic market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia- Pacific |
Largest Market | North America |
Unit | Value (USD Million) |
Key Companies Profiled | Unilever plc (United Kingdom), Beirsdoef AG (Germany), Amway (United States), Procter & Gamble (United States), Avon Products Inc. (United Kingdom), L’Oréal SA (France), The Estee Lauders Company Inc. (New York), Shiseido Company Limited (Japan), Burt’s Bee (United States) and Arbonne International LLC (United States) |
CAGR | 5.2% |
The companies are exploring the market in new regions by adopting new product launches as the technology is rapidly improving which is making a difference among the competitors. The companies are providing new innovated products to the consumers. Key players are exploring new geographies through expansions and acquisitions across the globe to avail competitive advantage through combined collaborations. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Luxury Cosmetics market throughout the predicted period.
Unilever plc (United Kingdom), Beirsdoef AG (Germany), Amway (United States), Procter & Gamble (United States), Avon Products Inc. (United Kingdom), L’Oréal SA (France), The Estee Lauders Company Inc. (New York), Shiseido Company Limited (Japan), Burt’s Bee (United States) and Arbonne International LLC (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Aubrey Organics (United States), Oriflame Cosmetics SA (Luxembourg) and Weleda (Switzerland).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Luxury Cosmetics market by Type and Region with country level break-up.
On the basis of geography, the market of Luxury Cosmetics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Leaders and their expansionary development strategies
In August 2018, Loreal (French personal care Company) has acquired Logocos Naturkosmetik AG, German natural beauty company for expansion of organic beauty market.
In February 2023, Shoppers Stop is betting big on the growth of the beauty business in India a category in which it continues to witness massive growth
Influencing Trend:
Increasing Penchant for a Trendy Lifestyle, Growing Foreign Direct Investments and Celebrity Endorsements
Market Growth Drivers:
Rising Purchasing Power Of Consumers, Upsurge in Consciousness among Men Regarding Personal Grooming and Transition in the Lifestyle of the Consumers
Challenges:
Stringent Government Taxation Policies for Luxury Products
Restraints:
Brief Shelf Life of the Cosmetics Market
Opportunities:
Fueling Demands For Organic Luxury Cosmetic Products
Key Target Audience
Luxury Cosmetic Manufactures, Luxury Cosmetic Distributors and Suppliers, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others