Global Premium Cosmetics Market

Global Premium Cosmetics Market Size, Share, Growth Analysis, By Type(Skincare, Haircare), By Distribution(Hypermarkets/Supermarkets, Specialty Stores) - Industry Forecast 2024-2031

Report ID: SQMIG30L2118 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 67 | Figures: 75

Global Premium Cosmetics Market News

  • In January 2022, Chanel launched N°1, a new beauty range that embraces naturality and sustainability. The French maison is kicking off 2022 with a whole line of skincare and makeup products based on holistic beauty and eco-friendly practices. Everything, from product formulation to packaging has been developed to provide a more natural and environmentally responsible beauty routine.
  • In April 2022, The L'Essence Fondamentale Yeux Eye Treatment, a comprehensive anti-aging solution for the eye area, has been added to Chanel's Sublimage skincare line.
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US Premium Cosmetics Market is poised to grow at a sustainable CAGR for the next forecast year.

Premium Cosmetics Market Top Players Company Profiles  'L'Oreal', 'Estee Lauder', 'Shiseido', 'Coty', 'LVMH', 'Unilever', 'Procter & Gamble', 'Chanel', 'Kao Corporation', 'Revlon', 'AmorePacific', 'Johnson & Johnson', 'Beiersdorf AG', 'Avon Products', 'Mary Kay Inc.', 'Clarins', 'Oriflame', 'Yves Rocher', 'Colgate-Palmolive', 'Henkel AG & Co. KGaA '

Consumer preference has shifted from traditional or mass-produced cosmetics to premium cosmetics as there has been growing awareness for premium ingredients and their beneficial effects on the skin. Furthermore, consumers are becoming increasingly concerned about various skin care issues such as acne, age spots, and pigmentation, which is pushing the adoption of high-end skin care cosmetics.

Rise in consumer awareness: Consumer awareness for high-quality, premium components in cosmetics and their impact on skin and hair is a crucial factor in shifting consumer preferences toward premium alternatives.

During the projected period (2023-2030), Asia Pacific is expected to continue to be the fastest-growing geographical market. The growth is driven mostly by in urban areas with an increase in female workforce, and the rise in middle-class disposable income. The rising demand for luxury cosmetics in China and Japan is also driving growth. Due to the presence of a high number of international corporations, China accounts for largest share in the regional premium cosmetics market.

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