Portland, OR, Feb. 04, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research,the global garnered $380.2 billion in 2019, and is projected to reach $463.5 billion by 2027, manifesting a CAGR of 5.3% from 2021 to 2027.The report provides a detailed analysis of changing market trends, key winning strategies, top investment pockets, major segments, and competitive scenario.
Increase in need for skin care products, demand for products made from natural ingredients, and attractive packaging fuel the growth of the global cosmetics market. However, emergence of advanced beauty treatments and probable side effects restrain the market growth. On the other hand, rise in organic cosmetics demand presents opportunities in the next few years.
In-depth analysis of the COVID-19 impact on the Cosmetics Market@ https://www.alliedmarketresearch.com/request-for-customization/651?reqfor=covid
Covid-19 Scenario:
- Manufacturers of cosmetic products began producing hand sanitizers, personal care products,and cleaning agentswith surge in demand for these products during the pandemic.However, some of the cosmetic products such as deodorants, sun care, and others underwent challenges in production, distribution, and supply of raw materials.
- Supermarket/hypermarket stores were closed down due to the lockdown imposed by governments for prevention of the spread of the coronavirus. In addition, online platforms closed deliveries. However, the operations and deliveries are expected to resume during post-lockdown.
- Manufacturers increased advertisementson social media for herbal skin care products as health consciousness among peoplesurged during the pandemic.
The report offers a detailed segmentation of the global cosmetics market on the basis of category, gender, distribution channel, and region.
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By category, the skin and sun care products segment accounted for the largest market share in 2019, holding around two-fifths of the global market, and will maintain its leadership position during the forecast period. However, deodorants and fragrances segment is projected to manifest the fastest CAGR of 7.2% from 2021 to 2027.
By distribution channel, the hypermarket/supermarket segment held the largest market share in 2019, accounting for around two-fifths of the global cosmetics market, and is expected to maintain its lead position throughout the forecast period. However, the online sales channel segment is estimated to register the largest CAGR of 7.6% from 2021 to 2027.
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Based on region, Asia-Pacific accounted for to the highest share in 2019, contributing to more than one-third of the total market share, and will maintain its dominant share in terms of revenue by 2027. Moreover, this region is projected to witness the highest CAGR of 6.5% from 2021 to 2027. The report also analyzes regions including North America, Europe, and LAMEA.
Major players of the global cosmetics market analyzed in the research includeAvon Products Inc., L’Oreal S.A., Kao Corporation, Revlon, Inc., Oriflame Cosmetics S.A., Skin Food Co., Ltd., Shiseido Company Limited, The Procter & Gamble Company, The Estee Lauder Companies Inc., and Unilever Plc.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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