Our latest research report entitled Luxury Cosmetics and Beauty Products Market (by product type (skincare, haircare, makeup, fragrances, and others), mode of sale (retail, and online), end-user (male, and female)) provides complete and deep insights into the market dynamics and growth of luxury cosmetics and beauty products.
The latest information on market risks, industry chain structure luxury cosmetics and beauty products cost structure and opportunities are offered in this report. The past, present, and forecast market information will lead to investment feasibility by studying the essential luxury cosmetics and beauty product growth factors. According to the report, the global luxury cosmetics and beauty products market is projected to grow at a CAGR of 3.03% over the forecast period of 2018-2024.
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luxury cosmetic market defines as the product type such as skincare, haircare, makeup, fragrances and other (hygiene product) used by male and female to enrich their looks. The customized beauty products and services that enhance the experience of the customer and built a relationship with the brands. Now a day, the brands are focusing more on the customized store to attract more customers.
Digital Strategy Such as Social Media Platform and Online Channels is Driving the Growth of the Market
A digital strategy such as social media platforms and online channels is driving the growth of the market. Currently, the companies are also focusing on the social media platform to get directly connect with their customers. The sales of luxury cosmetics through the online channel is growing significantly with a CAGR of 4.03% over the forecast period. Makeup is the most pulsating category in the luxury cosmetics market, and it is the key driver for the growth of this industry.
The companies are offering a variety of innovative products to satisfy the growing demand of customers to experiment with their looks. Growing per capita disposable income in the emerging economies in the Asia Pacific, Latin America, the Middle East, and Africa reflects the rise in high net worth individuals every year.
On the other hand, counterfeit product affects sales and goodwill of luxury cosmetics and beauty products manufacturers, thus hamper the growth of the market. In addition, the price associated with luxury cosmetics is high, as these are niche products with a high element of customization attached to it. However, restraining the growth of the market. Ease of availability of luxury goods through E-commerce to combat fake products is likely to bring opportunities to the market. The demand for natural and organic products is likely to bring new opportunities for the small player in this market. Moreover, the key players are investing more capitals in emerging countries to the extent their global reach and to capture more opportunities.
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Europe Holds the Largest Region in the Cosmetic and Beauty Product Market
Geographically, luxury cosmetics and beauty products market is divided into North America, Europe, Asia Pacific, and RoW. Europe holds the largest region in the cosmetic and beauty product market. Consumers in European regions are increasingly looking for value for money products which are natural and beneficial for the skin that provides benefits of high-priced premium products at a lower than premium cost.
Preference to spend on appearance to look younger and a combination of skin-benefiting and beautifying aspects are driving the growth for consumer and beauty products in the Europe region. The vast majority of Europe’s 500 million consumers use cosmetic and personal care products every day to protect their health, enhance their well-being, and lift their self-esteem. France is known as one of the most sophisticated cosmetic, beauty, and personal care market.
Market Segmentation by Product Type, Mode of Sale, And End-User
The report on global luxury cosmetics and beauty products market covers segments such as product type, mode of sale, and end-user. On the basis of product type, the sub-markets include skincare, haircare, makeup, fragrances, and others. On the basis of mode of sale, the sub-markets include retail, and online. On the basis of the end-user, the sub-markets include male and female.
Competitive Landscape
The report provides profiles of the companies in the market such as Shiseido Co., Ltd., L’Oreal, Beiersdorf, Natura, LVMH, PRADA S.p.A., REVLON, Estée Lauder Companies, Chanel S.A., and Coty Inc.
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Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the luxury cosmetics and beauty products.
=> Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2024.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis, and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand, and/or diversify.