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Global Premium Cosmetics Market Size 2019-2025 | Industry Report

Premium Cosmetics Market Analysis Report By Product, By Distribution Channel, By Region And Segment Forecasts From 2019 To 2025

Report ID: MN17619683  |  Published: May 2020  |  No of Pages: 80
Format: Electronic (PDF)  |  Industry: Consumer Goods  |  Publisher: Grand View Research

Industry Insights

The global premium cosmetics market size was accounted for USD 119.3 billion in 2018. The market is expected to witness a CAGR 7.6%, during the forecasted years. This growth can be attributed to rising demand for natural cosmetics and beauty products among the millennial population. Moreover, rising brand awareness and inclination towards the purchase of premium beauty products is expected to positively impact market growth.

Rising awareness about the usage of natural, organic and premium ingredients has created a shifting trend towards the consumption of premium cosmetic products rather than mass-produced cosmetics. Moreover, various benefits like reduction acne, pigmentation and age spot can be achieved with such products. Thus, the demand for these products is anticipated to boost during the forecasted years, 2019 to 2025.        

U.S. premium cosmetics market

Increasing demand for makeup accessories that can last long and anti-aging products are expected to drive the market growth in the upcoming years. Moreover, consumers prefer using mini-sized products that can serve the purpose of the trial. In addition, emerging concept of gender neutrality has paved the way for consumption of these products even among men.

Rising concept of digitalization across the globe has paved the way for online sale of such cosmetics products. In addition, implementation of marketing strategies and social media campaigns is also acting as a major factor contributing to product and brand awareness among consumers. For example, Face Gym launched a Make it Bar in 2017, which allowed the consumers to develop their face serums on visiting their studio. This helped the consumers to select the exact product as per their needs.

Product Insights

In 2018, the makeup product segment is anticipated to register the highest growth with a CAGR of 8.1% from 2019 to 2025. This growth can be associated with rising demand for natural and organic color cosmetics which help in reduction of skin irritation and infections. Moreover, sweat proof and waterproof products are being manufactured to sustain extreme climatic conditions.

The skincare product segment held the highest share across the global market in 2018 especially in Asia Pacific. This growth can be attributed to its benefits like reduction in freckles, acne scars, discoloration and age spots. Moreover, increasing demand for products that are being used for skin brightening is expected to positively impact market growth.

Distribution Channel Insights

The online distribution channel segment is expected to witness significant growth with a CAGR of 9.4% in the upcoming years. This growth can be associated with rising influence of internet, smartphones and e-commerce platforms among the millennial population. Moreover, increasing presence of e-commerce platforms like Alibaba and Amazon has paved way for the market growth for premium cosmetics through online mode. E-retailers have also started implementing various strategies like providing offers and discount on online purchase to penetrate deeper into developing regions like APAC and MEA.

Global premium cosmetics market

In 2018, the offline distribution channel segment held the highest share across the global market. This growth can be attributed to rising number of offline stores like health and beauty retail stores, supermarkets, hypermarkets, and convenience stores. Moreover, emerging technologies like Augmented Reality and Virtual Reality are helping in conducting makeup trials across these stores.

Regional Insights

In 2018, the Asia Pacific region held the highest share across the global premium cosmetics market. The region is also anticipated to register highest CAGR during the forecasted years, 2019 to 2025.This growth can be attributed to several factors like rising women workforce and boosting disposable income among the working population across countries like Japan and China. Moreover, presence of major players across China has helped it in becoming the largest market or such products.

North America can be considered as second largest market for premium cosmetics. This can be attributed to rising inclination of consumers towards fashion and personal care industry. Moreover, rising demand for premium cosmetic products among men is expected to drive the market in this region. Furthermore, increasing trend for usage of natural and organic ingredients expected to drive the market growth across countries like U.S. and Canada.

Premium Cosmetics Market Share Insights

The market for premium cosmetics includes key players such as L’Oréal; Coty; Shiseido; Estée Lauder; LVMH; Dior Beauty; KAO Corporation; Elizabeth Arden Inc.; and Chanel. These players are constantly engaged in product development and innovation to boost the sales of their products. Moreover, variety of marketing strategies and product launches are being implemented by these players to penetrate deeper into the emerging markets.

For example, Stylenanda has been acquired by L’Oréal in 2018 to expand its brand awareness across countries like Singapore, Hong Kong, Thailand, and Singapore. This acquisition also helped in creating brand awareness among the millennial population. In addition, Pulp Rio has been acquired by L’Oréal to increase its global presence.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2015 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Billion and CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa

Country scope

U.S., Germany, U.K., Italy, China, Japan, and Brazil

Report coverage

Revenue forecast, company share, competitive landscape, and growth factors and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels, and provides an analysis on latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the global premium cosmetics market report based on product, distribution channel, and region:

• Product Outlook (Revenue, USD Billion, 2015 - 2025)
    • Skincare
    • Haircare
    • Makeup
    • Fragrance
    • Others

• Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)
    • Offline
    • Online

• Regional Outlook (Revenue, USD Billion, 2015 - 2025)
    • North America
        • U.S.
    • Europe
       • Germany
       • U.K.
       • Italy
    • Asia Pacific
       • China
       • Japan
    • Central & South America
       • Brazil
    • Middle East and Africa

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