Global beauty and personal care products Market

Beauty and Personal Care Products Market Size, Share, Growth Analysis, By Products(Skincare, Haircare), By Distribution Channels(Supermarket, Speciality stores) - Industry Forecast 2024-2031


Report ID: SQMIG30L2134 | Region: Global | Published Date: April, 2024
Pages: 198 | Tables: 65 | Figures: 78

Beauty and Personal Care Products Market Insights

Global Beauty and Personal Care Products Market size was valued at USD 0.52 trillion in 2022 and is poised to grow from USD 0.56 trillion in 2023 to USD 1.02 trillion by 2031, at a CAGR of 7.8% during the forecast period (2024-2031).

For millennials, beauty and personal care goods like skin care, colour cosmetics, and hair care are becoming an essential element of everyday grooming. The market has been growing as natural, non-toxic, and organic cosmetics have been introduced. accessibility of these cosmetic products through a variety of sales channels, including specialty shops, pharmacies, and beauty salons. Also, it is projected that there will be significant growth prospects due to the growing emphasis that male consumers are placing on skin care and grooming in order to improve their physical appearance and better take care of their skin. An increase in research and development expenditures for innovative and useful products is also encouraging for market expansion. Beauty and personal care products has significantly increased. The availability of several brands across product categories, combined with rising income levels, has raised consumer awareness of beauty and personal care.

In addition, the market sells a wide variety of goods, including, among other things, male toiletries, deodorants, skincare, bath and shower items, and colour cosmetics. The number of people living to relatively later ages has significantly increased because to technological and medical advancements. As a result of population distribution that is tilted towards the older generation, Western countries must deal with the medical, financial, and social repercussions years. As a result, there is a sizable market for consumer goods, particularly for people in their fifties and sixties. The skin can be negatively impacted by a number of chemicals used as ingredients in cosmetics and personal care products. Similar to this, prolonged and intensive use of haircare products containing harsh chemicals can cause a variety of hair issues, including hair loss, early greying, and dry and lifeless hair. One of the key problems restricting the expansion of conventional beauty and personal care products is the growing consumer knowledge of the potential adverse effects of using such products.

US Beauty and Personal Care Products Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2024-2031

Global Market Size

USD 0.52 trillion

Largest Segment

Skincare

Fastest Growth

Haircare

Growth Rate

7.8% CAGR

Global Beauty and personal Care Product Market ($ Bn)
Country Share for Asia Pacific Region (%)
Global Beauty and personal Care Product Market By Product ($ Bn)
Global Beauty and personal Care Product Market By Product (%)

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Beauty and Personal Care Products Market Segmental Analysis

Global beauty and personal care products Market is segmented on the basis of Products, Distribution Channels, Type And geography. By Products, the market is segmented into Skincare, Haircare, Makeup, Fragrance, Oral Care. By Distribution Channels, market is segmented into Supermarket, Speciality stores, Drug Stores and Online. By Type, the market is divided into conventional and Organic segments. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Analysis by Products

The skincare segment dominated the global market. This can be attributed to the growing acceptance of cosmetics made with natural and organic components including fruit, plant, and herb extracts. Skincare products may rejuvenate and protect the skin, repair wrinkles and other indications of ageing, prevent acne, lighten spots, and maintain the skin healthy and youthful, to name a few of their many uses and advantages. The skincare market is still being driven by these advantages.

Over the forecast period, it is anticipated that the haircare segment will grow at the fastest CAGR. In order to treat issues with frizzy hair, split ends, hair loss, dandruff, and dry or itchy scalps, haircare products are employed broad range of haircare products, including shampoo, conditioner, hair gel, hair wax, hair serum, hair oil, and hair colourants, in different formats and for diverse client requirements.

Analysis by Distribution Channels

The largest segment is specialty stores in distribution channel segment. Due to the increasing number of specialty stores globally, specialty stores held the greatest market share of 35.7% in 2022. In order to attract customers and provide them the opportunity to select from a wide range of brands and variants before making a purchase, these stores have concentrated on providing natural and chemical-free beauty and personal care goods. This market expansion has also been aided by the availability of store associates who advise clients on the best cosmetics for their needs and impart sufficient knowledge about the contents.

The supermarkets and hypermarkets segment is expected to grow at the fastest CAGR. Supermarkets & hypermarkets have become popular for the purchase of beauty and personal care products as they offer a wide range of items under a single roof and are located near residential areas for convenient and easy accessibility. The E-commerce channel, on the other hand, is projected to register the fastest CAGR from 2022 to 2030. Rising internet penetration and target marketing by companies to reach a wider audience has fueled segment growth. In addition, heavy discounts & offers provided by online platforms will boost the sale of beauty and personal care items through this segment.

Global Beauty and personal Care Product Market By Product , 2023 (%)

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Beauty and Personal Care Products Market Regional Insights

The Asia-Pacific region dominated the global market. This is due to the growing number of working women in nations like China and India, as well as their increasing interest in and purchasing power for cosmetics and personal care items. Additionally, it is anticipated that over the course of the projection years, the growing young population in these nations—which has access to the internet—will present enormous prospects for the expansion of the regional market.

Europe are currently the growing markets for beauty and personal care products. Consumer preference for natural and vegan cosmetics, particularly in the U.K., France, and Germany, is driving the growth of the beauty and personal care business in Europe Customers in North America are eager to spend a lot of money on cosmetics that improve their physical appearance, and this is particularly true of customers in the United States and Canada. The presence of major firms and the higher level of consumer purchasing power in these areas will fuel regional marketplaces.

Global Beauty and personal Care Product Market By Region, 2024-2031
  • Largest
  • Fastest

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Beauty and Personal Care Products Market Dynamics

Drivers

Rising demand for anti-pollution skincare products.

  • For governments and residents alike, controlling air quality around the world continues to be very difficult. Globally, the state of the air has gotten worse due to urbanisation, industrialisation, and vehicular pollution. The demand for anti-pollution skin care products rises as air pollution increases globally because these products can reduce or avoid the impact of air pollution on skin health. Anti-aging treatments help moisturise the skin, reduce the appearance of wrinkles, creases, and age spots, as well as improve skin tone, protect against ultraviolet (UV) radiation, and boost collagen formation. Hives and eczema are two skin disorders that can be brought on by air pollution. Manufacturers of hygiene and beauty goods are being pushed to concentrate more on creating remedies that can proactively prevent skin damage due to the damaging effects of air pollution on the skin These anti-pollution treatments also assist in enhancing skin oxidation and shield skin from harmful air pollution. As a result, during the projection period, these variables are anticipated to fuel market expansion.

Use of Natural Skin Care Products is Increasing

  • It is projected that increased consumer awareness of the benefits of using natural cosmetics, such as natural skin care products, will create excellent market prospects. This is because completely natural skin care products don't have any negative side effects, they don't cause early skin ageing, and they leave the skin shining and radiant. For instance, skincare products manufactured from natural and pure substances, such as lotions and facewash, don't cause allergies or have any negative side effects. There are no complex chemicals, synthetic chemicals, or artificial fragrances in the natural cosmetic products because they are manufactured entirely from natural materials like aloe vera, sandalwood, rose, turmeric, and coconut milk. Also, using natural nutrients like quinoa and jojoba oil is quite efficient at delaying the onset of old age. These elements are predicted to fuel the expansion of the cosmetics industry throughout the forecast period.

Restraints

Availability of Counterfeit Products

  • Counterfeit beauty and personal care products can lead to significant economic losses for genuine manufacturers and sellers. These losses can be due to a decline in sales, revenue loss, and the costs of legal action against counterfeiters. Counterfeit products are often of inferior quality and may contain harmful ingredients that can lead to serious health problems. The use of these products can damage the reputation of genuine products, leading to a decline in consumer trust. Counterfeit products are often designed to look similar to genuine products, making it difficult for consumers to distinguish between them. This confusion can lead to a decline in sales of genuine products as consumers may opt for cheaper counterfeit alternatives.

Negative public perception

  • Negative public perception can lead to a decline in sales of beauty and personal care products. Consumers may choose to purchase products from brands that align with their values and avoid brands that do not meet their standards. it can damage the reputation of a brand and impact consumer trust. It can take time and resources to repair this damage, which can be a challenge for companies in the market. Negative public perception can lead to increased regulatory scrutiny of the beauty and personal care products market. Regulatory agencies may impose stricter requirements on manufacturers and sellers to address consumer concerns.

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Beauty and Personal Care Products Market Competitive Landscape

Global beauty and personal care products in this industry, there are numerous domestic and foreign competitors, and they have been concentrating on tactics like innovation and the introduction of natural, organic, and vegan beauty and personal care goods in the retail space.

Top Player’s Company Profiles

  • L'Oreal Group
  • Unilever Group
  • Procter & Gamble Co.
  • Estee Lauder Companies Inc.
  • Shiseido Co. Ltd.
  • Beiersdorf AG
  • Johnson & Johnson
  • Avon Products Inc.
  • Kao Corporation
  • Colgate-Palmolive Company
  • Revlon Inc.
  • Coty Inc.
  • Henkel AG & Co. KGaA
  • Oriflame Cosmetics Global SA
  • Mary Kay Inc.
  • Natura Cosmeticos SA
  • LVMH Moet Hennessy Louis Vuitton SE
  • Chanel SA
  • Amway Corporation
  • Yves Rocher SA

Recent Developments

  • In March 2024, FOReT, a PeTA-approved vegan fashion brand committed to sustainability, revealed its strategic expansion through numerous new retail collaborations, both online and offline. This milestone underscores the brand's mission to democratize sustainable fashion. FOReT's products are now accessible on Ajio Luxe, Pernia’s Pop-Up Shop, Amala Earth, Jaypore, Okhai, and Shop the Lnk online platforms, as well as offline at Como Collective and Marai Cafe in Goa. 
  • In February 2024, HYPHEN, a skincare brand born from a partnership between industry leader PEP Technologies and Celebrity Entrepreneur Kriti Sanon, continues to make waves in the Indian skincare industry. Known for its dedication to streamlining skincare regimens by blending natural elements with scientific innovation, HYPHEN debuts its latest offering, the Retinal Reset Serum, as its inaugural release of the year. 
  • In November 2023, Reliance Beauty & Personal Care, a subsidiary of Reliance Retail Ventures, completed the acquisition of Arvind Beauty Brands Retail. This acquisition grants Reliance exclusive rights to enhance and expand the presence of global beauty retailer Sephora in India. The transaction amounted to Rs 99.02 crore, with an enterprise value of Rs 216 crore, covering the equity stake sale and loan repayment. Reliance now gains control of Sephora's 26 stores across 13 Indian cities from Arvind Fashions, with intentions to further grow the brand's reach in the country. Sephora initially ventured into the Indian market in 2012.

Beauty and Personal Care Products Key Market Trends

  • Rise of cosmetics and personal care items made with natural components: The demand for goods made with natural components has increased as people become more conscious of their health and the dangers of toxic chemicals found in beauty and hygiene products. Customers are searching for items with fewer harsh chemicals and a lower chemical content. As a result, manufacturers are putting more effort into developing cosmetics and personal care items without parabens, toluene, formaldehyde, synthetic scents, dibutyl phthalates (DBP), chemicals derived from petroleum, and sulphates. Using harsh chemicals excessively in skin care products can have negative health implications, including skin allergies, skin irritation, and skin cancer. As a result, the industry presents substantial growth potential for suppliers of natural and organic care goods. Thus, the launch of products containing natural components will have a beneficial impact on the market's growth during the coming years.

Beauty and Personal Care Products Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our global beauty and personal care products market analysis, one of the main factors fueling industry expansion is consumers' increasing concern with their looks. Among the beauty and personal care items that millennials use on a regular basis are skin care, colour cosmetics, and hair care. The launch of cosmetics made with organic, natural, and non-toxic ingredients has also contributed to the market expansion. The market expansion in terms of value sales has been facilitated by the simplicity of obtaining these cosmetic products through numerous sales channels, including specialty shops, pharmacies, and beauty salons. In addition, the increasing emphasis that male consumers are placing on skincare and grooming to enhance their physical appearance and skin care is anticipated to create sizable growth potential. Europe dominated the global market. Increasing spending on research and development of innovative and useful products is also good for market expansion. Manufacturers have been pushed to introduce new goods and increase their footprint as a result of growing customer knowledge of the advantages of using vegan, organic, natural, and environmentally friendly cosmetics. The market is expanding since most consumers opt to purchase natural or organic goods.

Report Metric Details
Market size value in 2023 USD 0.52 trillion
Market size value in 2031 USD 1.02 trillion
Growth Rate 7.8%
Forecast period 2024-2031
Forecast Unit (Value) USD Trillion
Segments covered
  • Products
    • Skincare, Haircare, Makeup, Fragrance, Oral Care
  • Distribution Channels
    • Supermarket, Speciality stores, Drug Stores and Online
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • L'Oreal Group
  • Unilever Group
  • Procter & Gamble Co.
  • Estee Lauder Companies Inc.
  • Shiseido Co. Ltd.
  • Beiersdorf AG
  • Johnson & Johnson
  • Avon Products Inc.
  • Kao Corporation
  • Colgate-Palmolive Company
  • Revlon Inc.
  • Coty Inc.
  • Henkel AG & Co. KGaA
  • Oriflame Cosmetics Global SA
  • Mary Kay Inc.
  • Natura Cosmeticos SA
  • LVMH Moet Hennessy Louis Vuitton SE
  • Chanel SA
  • Amway Corporation
  • Yves Rocher SA

Recent Developments

  • In March 2024, FOReT, a PeTA-approved vegan fashion brand committed to sustainability, revealed its strategic expansion through numerous new retail collaborations, both online and offline. This milestone underscores the brand's mission to democratize sustainable fashion. FOReT's products are now accessible on Ajio Luxe, Pernia’s Pop-Up Shop, Amala Earth, Jaypore, Okhai, and Shop the Lnk online platforms, as well as offline at Como Collective and Marai Cafe in Goa. 
  • In February 2024, HYPHEN, a skincare brand born from a partnership between industry leader PEP Technologies and Celebrity Entrepreneur Kriti Sanon, continues to make waves in the Indian skincare industry. Known for its dedication to streamlining skincare regimens by blending natural elements with scientific innovation, HYPHEN debuts its latest offering, the Retinal Reset Serum, as its inaugural release of the year. 
  • In November 2023, Reliance Beauty & Personal Care, a subsidiary of Reliance Retail Ventures, completed the acquisition of Arvind Beauty Brands Retail. This acquisition grants Reliance exclusive rights to enhance and expand the presence of global beauty retailer Sephora in India. The transaction amounted to Rs 99.02 crore, with an enterprise value of Rs 216 crore, covering the equity stake sale and loan repayment. Reliance now gains control of Sephora's 26 stores across 13 Indian cities from Arvind Fashions, with intentions to further grow the brand's reach in the country. Sephora initially ventured into the Indian market in 2012.
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Beauty and Personal Care Products Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Beauty and Personal Care Products Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Beauty and Personal Care Products Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Beauty and Personal Care Products Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Beauty and Personal Care Products Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Beauty and Personal Care Products Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Beauty and Personal Care Products Market size was valued at USD 0.52 trillion in 2022 and is poised to grow from USD 0.56 trillion in 2023 to USD 1.02 trillion by 2031, at a CAGR of 7.8% during the forecast period (2024-2031).

beauty and personal care products in this industry, there are numerous domestic and foreign competitors, and they have been concentrating on tactics like innovation and the introduction of natural, organic, and vegan beauty and personal care goods in the retail space. 'L'Oreal Group', 'Unilever Group', 'Procter & Gamble Co.', 'Estee Lauder Companies Inc.', 'Shiseido Co. Ltd.', 'Beiersdorf AG', 'Johnson & Johnson', 'Avon Products Inc.', 'Kao Corporation', 'Colgate-Palmolive Company', 'Revlon Inc.', 'Coty Inc.', 'Henkel AG & Co. KGaA', 'Oriflame Cosmetics SA', 'Mary Kay Inc.', 'Natura Cosmeticos SA', 'LVMH Moet Hennessy Louis Vuitton SE', 'Chanel SA', 'Amway Corporation', 'Yves Rocher SA', 'In March 2024, FOReT, a PeTA-approved vegan fashion brand committed to sustainability, revealed its strategic expansion through numerous new retail collaborations, both online and offline. This milestone underscores the brand's mission to democratize sustainable fashion. FOReT's products are now accessible on Ajio Luxe, Pernia’s Pop-Up Shop, Amala Earth, Jaypore, Okhai, and Shop the Lnk online platforms, as well as offline at Como Collective and Marai Cafe in Goa. ', 'In February 2024, HYPHEN, a skincare brand born from a partnership between industry leader PEP Technologies and Celebrity Entrepreneur Kriti Sanon, continues to make waves in the Indian skincare industry. Known for its dedication to streamlining skincare regimens by blending natural elements with scientific innovation, HYPHEN debuts its latest offering, the Retinal Reset Serum, as its inaugural release of the year. ', 'In November 2023, Reliance Beauty & Personal Care, a subsidiary of Reliance Retail Ventures, completed the acquisition of Arvind Beauty Brands Retail. This acquisition grants Reliance exclusive rights to enhance and expand the presence of beauty retailer Sephora in India. The transaction amounted to Rs 99.02 crore, with an enterprise value of Rs 216 crore, covering the equity stake sale and loan repayment. Reliance now gains control of Sephora's 26 stores across 13 Indian cities from Arvind Fashions, with intentions to further grow the brand's reach in the country. Sephora initially ventured into the Indian market in 2012.'

For governments and residents alike, controlling air quality around the world continues to be very difficult. Globally, the state of the air has gotten worse due to urbanisation, industrialisation, and vehicular pollution. The demand for anti-pollution skin care products rises as air pollution increases globally because these products can reduce or avoid the impact of air pollution on skin health. Anti-aging treatments help moisturise the skin, reduce the appearance of wrinkles, creases, and age spots, as well as improve skin tone, protect against ultraviolet (UV) radiation, and boost collagen formation. Hives and eczema are two skin disorders that can be brought on by air pollution. Manufacturers of hygiene and beauty goods are being pushed to concentrate more on creating remedies that can proactively prevent skin damage due to the damaging effects of air pollution on the skin These anti-pollution treatments also assist in enhancing skin oxidation and shield skin from harmful air pollution. As a result, during the projection period, these variables are anticipated to fuel market expansion.

Rise of cosmetics and personal care items made with natural components: The demand for goods made with natural components has increased as people become more conscious of their health and the dangers of toxic chemicals found in beauty and hygiene products. Customers are searching for items with fewer harsh chemicals and a lower chemical content. As a result, manufacturers are putting more effort into developing cosmetics and personal care items without parabens, toluene, formaldehyde, synthetic scents, dibutyl phthalates (DBP), chemicals derived from petroleum, and sulphates. Using harsh chemicals excessively in skin care products can have negative health implications, including skin allergies, skin irritation, and skin cancer. As a result, the industry presents substantial growth potential for suppliers of natural and organic care goods. Thus, the launch of products containing natural components will have a beneficial impact on the market's growth during the coming years.

The Asia-Pacific region dominated the market. This is due to the growing number of working women in nations like China and India, as well as their increasing interest in and purchasing power for cosmetics and personal care items. Additionally, it is anticipated that over the course of the projection years, the growing young population in these nations—which has access to the internet—will present enormous prospects for the expansion of the regional market.

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