Pune, 22, Nov, 2022: Maximize Market Research has recently released a new research study titled Premium Cosmetics Market Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2029”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios. Market is expected to grow from USD 34.50 billion in 2021 to USD 63.10 billion in 2029, at a CAGR of 7.84% for the forecast period from 2022 to 2029.
Premium Cosmetics Market Scope and Research Methodology
The research methodology used to estimate and forecast the Premium Cosmetics market began with capturing data on key vendor revenues. The market size of individual segments was determined through various secondary sources including industry associations, white papers, and journals. Vendor offerings were also taken into consideration to determine the market segmentation. The bottom-up approach was employed to arrive at the overall size of the market, by considering the Premium Cosmetics adoption rate and Premium Cosmetics pricing by key players, which were then verified through primary research by conducting extensive interviews with key industry personnel, such as Vice Presidents (VPs), directors, and related executives in the market. Data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and sub segments. SWOT analysis was conducted to understand the strengths and weaknesses of key companies and PESTLE to grasp the various factors affecting the market. Thus, the report provides a complete overview of the Premium Cosmetics Market.
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Premium Cosmetics Market Overview
Premium cosmetics are in high demand to cure age spots, hyperpigmentation, acne, and other skin concerns Furthermore, the desire for active, healthy components and products with proven product efficacy will boost product sales and fuel the growth of the premium cosmetics market. While 85% of the business is currently offline, where consumers can test cosmetics for demo samples, premium, authentic marks and a variety of products are driving online sales. Premium beauty and cosmetics companies are growing their market share as consumers who have been purchasing products for thousands of years increase sales through innovation and a stronger digital platform.
Premium Cosmetics Market Dynamics
Global consumer awareness of appearance has increased, which is a major driver of the premium cosmetics market’s sales growth. Numerous skin-related issues have led customers to choose reputable, high-quality products. Consumers are becoming increasingly wary about buying cosmetics due to the rise in skin disorders and diseases like rosacea, acne, and atopic dermatitis. 50 million Americans have acne, and 16 million Americans have rosacea, according to the AAD or American Academy of Dermatology Association. According to report, skin problems are on the rise and people are gravitating toward high-quality goods. The global market share is being energised by all of these. The market is growing faster because there are more people using social media platforms and because of social media’s influence. Additionally helping to increase market sales are the shifting fashion trends.
Premium Cosmetics Market Segment Insights
Based on the distribution channel, The online distribution channel is anticipated to increase at the fastest rate, or 8.45%, throughout the projection period. One of the main factors promoting luxury cosmetics online sales is the rise in internet usage, awareness of the advantages of online product comparison before purchase, and the accessibility of a wide selection of products. In advanced economies like the United States, China, Japan, and the United Kingdom, premium brand concentration is high. The high-end cosmetics market is growing as a result of the rising use of luxury products in emerging economies and rising online shopping preferences.
Premium Cosmetics Market Regional Insights
In 2021, North America accounted for the higher share in the global premium cosmetics market owing to the presence of major players and increasing demand for premium makeup and anti-aging skincare products. The use of tailored product formulas to meet each individual’s skin’s specific demands and traits has emerged as a major market trend, which has in turn fuelled a rise in the sales of high-end cosmetics in the area.
APAC: Owing in large part to the growing millennial population, countries like China, India, Indonesia, and Vietnam in the Asia-Pacific region provide significant growth prospects for market players. Furthermore, the market is anticipated to increase throughout the forecast period due to consumers’ greater awareness of cosmetics items such facial makeup, hairstyling, and colouring products. As cost-conscious consumers choose products that offer hydration and skin protection, the desire for multipurpose goods drives innovation.
Premium Cosmetics Market Segmentation
By Nature
Natural and OrganicConventional
By Product
Skin CareHair CareMakeupFragranceOthers
By Gender
MaleFemaleUnisex
By Distribution Channel
Supermarket and HypermarketCosmetics ShopsOnlineOthers
Premium Cosmetics Market Key Competitors:
Amway Corp.Beiersdorf AktiengesellschaftCHANEL Ltd.Coty Inc.Dambiro deGroupe ClarinsHenkel AG and Co. KGaAJohnson and JohnsonKose Corp.Loccitane International SALVMH Moet Hennessy Louis Vuitton SENUDE Beauty BrandsOriflame Holding AGRevlon Inc.Shiseido Co. Ltd.The Avon Co.Unilever PLCThe Procter and Gamble Co.Kao Corp.LOreal SAThe Estee Lauder Co. Inc.
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Key questions answered in the Premium Cosmetics Market are:
What is Premium Cosmetics? What is the growth rate of Premium Cosmetics Market during the forecast period? What is the nature of competition in Premium Cosmetics industry in developed economies and developing economies? Who are the key players in the Premium Cosmetics Market?Who are the market leaders in Premium Cosmetics in Europe?Who are the market leaders in Premium Cosmetics in USA and CanadaWho are the market leaders in Premium Cosmetics in India, China, Japan and South Korea?What are the factors affecting growth in the Premium Cosmetics? Who held the largest market share in Premium Cosmetics? What are the factors for the growth of Asia-Pacific region in Premium Cosmetics?
Key Offerings:
Market Share, Size & Forecast by Revenue | 2022−2029Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key TrendsMarket Segmentation – A detailed analysis by Segment and RegionCompetitive Landscape – Top Key Vendors and Other Prominent Vendors
Maximize Market Research is leading consumer goods research firm, has also published the following reports:
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Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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