The global cosmetics market is expected to cross US$390 billion by 2020, which is majorly attributed to the high demand from the Asia Pacific region due to growing disposable income and rise in living standards. A faster market growth is anticipated from organic and chemical free cosmetic products.
North America, already a mature market for such products, is also likely to continue to grow. Also, high demand for anti-ageing products is expected to drive the demand for cosmetic markets across the globe over the next several years. This has led the industry to also focus more on organic products and create a separate category for the same. However, the need for a regular supply of raw materials and price-sensitive nature of the market are likely to pose challenges to the industry in the foreseeable future. Developing countries such as China, India and Malaysia are however likely to take to these products more than ever before.
Within the cosmetics industry, skin care products represent the fastest-growing sub-segment while shampoos and other hair care products are likely to grow slowly due to near saturation of players offering these products. In this backdrop, provision of these products through appropriate sales channels has become an imperative. The advent of online channels and proliferation of e-commerce websites present a unique and seamless opportunity to reach these products to newer markets and at low cost.
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The global cosmetics market is dominated by a handful of established players such as L’Oral, Avon Incorporation, Procter and Gamble (P&G), Unilever, Oriflame, Revlon, Incorporation, Kao Corporation, Estee Lauder Companies Incorporation, Shiseido Corporation Limited and Skin Food Company. This effectively offers little room for entry of new players. However, the demand for organic products lays a new roadmap for newer players to come in even as established players tailor their offerings to meet the new market demand.
The deep-dive study on the global cosmetics market will help customers with identifications of new market opportunities and targeted promotional plans. It also facilitates decision making on the basis of strong historic and forecast of cosmetics industry and unit capacity data. The report provides global market trends, with data from 2013, estimates for 2014 and 2015, and projections of CAGRs through 2022. An in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments is given. Qualitative impact of various factors on market segments and regions is also discussed in the report.
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