The global cosmetic products market is projected to witness a CAGR of 4.36 % during the forecast period (2021 - 2026).
- The global cosmetics market is witnessing a significant increase in household expenditure. Moreover, the inclination of people toward spending on appearance, and appeal has been constantly driving the market studied. For instance, according to a new study conducted by Groupon in 2017, suggested that British women spend an average of GBP 70,294 on their appearance in their lifetime.
- Moreover, the increasing demand for natural or organic, no animal tested and cruelly free cosmetics products, and innovative and eco-friendly packaging designs is expected to enhance the market further globally. Organic cosmetics products in the global market are increasingly positioned as high quality and premium products, and they draw a wide range of consumers in the market studied
- Nearly all product areas across the cosmetics category have recorded declining sales in constant terms during 2020, with some even turning in double-digit decline, owing to the COVID-19 pandemic. Home seclusion or isolation trends in 2020 and also in 2021 are accelerating the decline in the revenues in colour cosmetics market.
Key Market Trends
Inclination Toward Organic, Vegan and Cruelty-Free Cosmetic Products
In the recent years organic, cruelty-free (no animal testing), vegetarian (no byproducts of animal slaughter), and vegan (no animal ingredients at all) cosmetics market have gained increasing popularity in developed countries, and it has been finding its space in the developing market such as India, China, Brazil, etc. market. Moreover, with the advancement of vegan products, consumers are paying extra attention to not only a particular shade of lipstick that suits them but also its manufacturing process.
Owing to the above factor, in May 2014, the Ministry of Health & Family of India banned cosmetic testing, with the new rule "148-C. The prohibition of testing of cosmetics on animals was added to the existing Drugs and Cosmetics Rules, 1945. Also, in June 2020, a bill restricting the testing of personal care products on animals and the sale and import of animal-tested cosmetics passed its final vote in the Colombian SenateThe prohibition of testing of cosmetics on animals was added to the existing Drugs and Cosmetics Rules, 1945. Therefore, factor such as these are driving the sales of organic, vegan and cruelty-free cosmetics in the global market
Increasing Consumption of Cosmetic Products in Asia-Pacific
The colour cosmetics industry (including eye, facial, and lip makeup category) is the most prosperous industry in India, China and others. The local companies, such as the Shahnaz Husain Group from India, are exclusively providing herbal/ayurvedic cosmetics products, due to the prolonged health benefits it offers to the skin.
Also, the premium global brands are registering increased sales as Indian consumers move from functional items to more advanced and specialized cosmetic products. Many international brands, like Revlon, Elle18 MAC, Sephora, L'Oreal, and Oriflame, are increasing their presence further, by introducing more products in the Indian market, particularly with the convenient and attractive packaging types and vegan ingredients, in order to attract the youth in the country.
The market studied is highly competitive, with many regional small- to medium-scale players and key global players such as L'oreal SA, Estee Lauder Inc., Oriflame Group, etc.
In order to gain a competitive advantage, key players differentiate their offerings and compete on different factors, including product offerings, ingredients, packaging, price, functionality, and marketing activities.
Companies are increasing their investments in R&D and marketing, and they are expanding their distribution channels to maintain their position in the market. Moreover, companies are following strategies that include provision of products through e-commerce (own website and third parties) websites, to facilitate a larger targeted audience.
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
TABLE OF CONTENTS
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Market Drivers
- 4.2 Market Restraints
- 4.3 Porter's Five Forces Analysis
- 4.3.1 Threat of New Entrants
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Bargaining Power of Suppliers
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 By Product Type
- 5.1.1 Facial Make-up Products
- 5.1.2 Eye Make-up Products
- 5.1.3 Lip Make-up Products
- 5.1.4 Nail Make-up Products
- 5.2 By Category
- 5.3 By Distribution Channel
- 5.3.1 Hypermarkets/Supermarkets
- 5.3.2 Specialty Stores
- 5.3.3 Online Retail Stores
- 5.3.4 Pharmacies and Drug Stores
- 5.3.5 Other Distribution Channels
- 5.4 By Geography
- 5.4.1 North America
- 220.127.116.11 United States
- 18.104.22.168 Canada
- 22.214.171.124 Mexico
- 126.96.36.199 Rest of North America
- 5.4.2 Europe
- 188.8.131.52 United Kingdom
- 184.108.40.206 Germany
- 220.127.116.11 Spain
- 18.104.22.168 France
- 22.214.171.124 Italy
- 126.96.36.199 Russia
- 188.8.131.52 Rest of Europe
- 5.4.3 Asia-Pacific
- 184.108.40.206 China
- 220.127.116.11 Japan
- 18.104.22.168 India
- 22.214.171.124 Australia
- 126.96.36.199 Rest of Asia-Pacific
- 5.4.4 South America
- 188.8.131.52 Brazil
- 184.108.40.206 Argentina
- 220.127.116.11 Rest of South America
- 5.4.5 Middle East & Africa
- 18.104.22.168 United Arab Emirates
- 22.214.171.124 South Africa
- 126.96.36.199 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Most Active Companies
- 6.2 Most Adopted Strategies
- 6.3 Market Share Analysis
- 6.4 Company Profiles
- 6.4.1 Revlon
- 6.4.2 The Estee Lauder Companies Inc.
- 6.4.3 Loreal SA
- 6.4.4 Shiseido Co.,Ltd.
- 6.4.5 Oriflame Cosmetics AG
- 6.4.6 New Avon Company
- 6.4.7 Coty, Inc.
- 6.4.8 Natura & Co.
- 6.4.9 Unilever
- 6.4.10 Amway Corp.
- 6.4.11 Lotus Herbals Pvt. Ltd.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 IMPACT OF COVID-19 ON THE MARKET