According to the latest report by IMARC Group, titled "Beauty and Personal Care Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global beauty and personal care products market reached a value of US$
481.6 Billion in 2022. Beauty and personal care products contain a wide range of items that are intended to improve the texture and appearance of the skin. They are widely used by individuals for cleaning and beautifying purposes to enhance the health and appearance of the skin, hair and nails. Along with this, they are beneficial in the prevention of sagging, wrinkles, acne-related problems and dryness. Additionally, they help in nourishing and hydrating the skin while stimulating skin metabolism, regulating moisture levels and providing protection from ultraviolet rays (UV). Some of the commonly utilized beauty and personal care products include soaps, antiperspirants, shampoos, razors, bodywash, cleansers, oral care products and cosmetics.
The global beauty and personal care products market is driven by the advent of organic products and continuous improvements in the e-commerce sector.
Global Beauty and Personal Care Products Market Trends:
The global market is primarily driven by the growing customer preference for maintaining an aesthetic physical appearance. This is supported by the rising awareness regarding personal hygiene among the masses. Besides this, the increasing need for boosting self-confidence and social interactions has also aided the market expansion. With the growing demand for natural ingredients among consumers, there has been a considerable shift towards the adoption of organic beauty and personal care products, thereby propelling the market growth. This has encouraged numerous leading players to heavily invest in extensive research and development (R&D) activities to launch organically manufactured products, which is creating a positive market outlook. Along with this, continuous improvements in the e-commerce infrastructure, the advent of online delivery models and the rising popularity of social media are other major growth-inducing factors. Other factors, including inflating disposable income levels of individuals and the development of aggressive marketing strategies, promotional campaigns and celebrity endorsements, are further positively influencing the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 787.8 Billion by 2028, exhibiting a CAGR of
5.12% during 2023-2028.
- On the basis of the type, the market has been bifurcated into conventional and organic.
- Based on the product, the market has been segmented into skin care, hair care, color cosmetics, fragrances and others.
- On the basis of the pricing, the market has been classified into mass and premium products.
- Based on the distribution channel, the market has been categorized into supermarkets and hypermarkets, specialty stores, e-commerce and others.
- On the basis of the end-user, the market has been segregated into male and female.
- Based on the region, the market has been divided into the North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players are Avon Products (Natura & Co), Beiersdorf AG, Colgate-Palmolive Company, Johnson & Johnson, Kao Corporation, L'Oréal S.A., Mary Kay Inc., Procter & Gamble Company, Revlon, Inc. (MacAndrews & Forbes), Shiseido Company Limited, The Estée Lauder Companies Inc. and Unilever plc.
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