Luxury Cosmetics Market Revenue, Future Growth, Trends, Top Key Players, Business Opportunities, Industry Share, Size Analysis by Forecast 2029

The global luxury cosmetics market size is set to experience dynamic growth in the forthcoming years owing to the rising demand for premium-based beauty products, finds Fortune Business Insights™ in its report, titled “Luxury Cosmetics Market, 2022-2029”.

Over the years, there has been an increasing demand for premium-based beauty and personal care products from the majority of the people across the world owing to the constantly changing fashion trends and improved standard of living of the people worldwide. This is a major reason fuelling the growth of this market. For instance, in April 2020, Avon Products Inc. introduced a cannabis plant-based ‘Sativa oil’ collection, including the products such as day creams, cleansers, and hand and body lotions to cater to the consumers’ need for sustainable beauty products.

COVID-19 Impact:

During the outbreak of the COVID-19 pandemic, the supply chain of the consumer goods industry has been disrupted as most of the retail and specialty stores around the world had to be shutdown. Thus, the growth of the luxury cosmetics market has been severely affected due to this pandemic.

Fortune Business Insights™ lists out all the luxury cosmetics market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:

• L’Oréal S.A.
• Coty Inc.
• Shiseido Company Ltd.
• Estee Lauder Companies
• Puig
• Revlon Inc.
• Kao Corporation
• The Proctor & Gamble Company
• Unilever Plc.
• Chanel International B.V.
• Pat McGrath Cosmetics LLC.

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Highlights/Summary:

This report contains an in-depth analysis of the market drivers, trends, and restraints, along with a granular assessment of the various segments of the market. In addition, valuable insights into the regional opportunities impacting the market are also incorporated into the report, as well as a holistic examination of the major market players and their dominant strategies.

Drivers/Restraints:

Increasing Urbanization Rate Worldwide to Fuel the Market

In recent years, the world has observed a substantial increase in the urbanization rate, which has resulted in the rising disposable income of the people across the world. Hence, most of the people are inclined towards buying luxurious products as per their requirements. Thus, this is an important factor driving the growth of this market.

Regional Insights:

Increasing Number of Cosmetics Manufacturing Companies to Boost the Asia Pacific Market Growth

Asia Pacific region is projected to dominate in the luxury cosmetics market share on account of the increasing number of cosmetics production companies in the countries such as India and China.

Europe is anticipated to grow rapidly in this market owing to the increasing production capacity of the luxury cosmetics items in the countries such as Italy, Germany, and the UK.

Market Segmentation:

On the basis of product type, this market is classified into skin care, hair care, make-up, and others. Based on end-user, the market is divided into male and female. By distribution channel, the market is categorized into hypermarkets and supermarkets, specialty stores, online stores, and others. In terms of geography, the market is clubbed into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

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Competitive Landscape:

Increasing Innovation of Luxury Cosmetics by Key Players to Animate Competition

The prominent companies in the luxury cosmetics market are focusing on the production of innovative luxury cosmetic items in order to meet the high demand for such products from the consumers worldwide. This has resulted in the increasing competition among key companies which will enable them to broaden their business horizons and widen their market position.

The Global Luxury Cosmetics Market Research/Analysis Report Contains Answers to your following Questions:

• Which Manufacturing Technology is used for Luxury Cosmetics ? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
• Who Are the Global Key Players in This Luxury Cosmetics Market? What are Their Company Profile, Their Product Information, and Contact Information?
• What Was Global Market Status of Luxury Cosmetics Market? What Was Capacity, Production Value, Cost and PROFIT of Luxury Cosmetics Market?
• What Is Current Market Status of Luxury Cosmetics Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of Luxury Cosmetics Market Trends by Taking Applications and Types in Consideration?
• What Are Projections of Global Luxury Cosmetics Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about Import and Export?
• What Is Luxury Cosmetics Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
• What Is Economic Impact On Luxury Cosmetics Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
• What Are Market Dynamics of Luxury Cosmetics Market? What Are Challenges and Opportunities?
• What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Luxury Cosmetics Industry?

Industry Development:

October 2020: Groupe Rocher, a cosmetics company acquired Romania based cosmetics retailer SabonNYC to expand its luxury cosmetics business in the Romania and Czech Republic.

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