PUNE, India, Jan. 28, 2021 (GLOBE NEWSWIRE) -- The Global Premium Cosmetics Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.
Growing demand for premium cosmetics due to newly introduced packaging innovation, and rising natural-ingredient based products, and expansion of the personal care industry in new regions of Asia Pacific region remain key drivers of growth in the premium cosmetics market. Premium cosmetics have witnessed major growth in recent times, despite events like the COVID-19 pandemic. This is largely because personal cosmetics remain a key part of self-esteem, and confidence build-up for individuals. The trend will likely continue as historical forecasts in the market dictate that during economic downturns, cosmetics remain resilient in demand. Moreover, the pandemic, and economic recovery will continue till 2022 end, as new coronavirus strains continue to make their way into the global landscape.
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Competitive Intelligence
The premium cosmetics market is composed of global established players and medium sized regional and local players. Market share of leading players is estimated and included in this research report. Majority demand from end users is catered by the global players whereas, the small and medium buyers usually prefer regional suppliers. The competition between global and regional players is intense and is expected to remain the same in future too. Elaborate company profiles are included in the report. Inclusions of every company profile are overview of the company, geographical presence, financial performance, offerings and strategic moves.
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COVID-19 Consequences
COVID-19 pandemic has struck almost every industry including premium cosmetics demand. Our team of researchers has been constantly in touch with the market players. Real time developments in the market have been promptly understood by our team and the same has been explained in a dedicated section for COVID-19 consequences. Recovery path of the market is also described.
Premium Natural Ingredients are a Game Changer
Consumers are increasingly flocking to social media to learn about new products, product information, and gain insight information on best choices. The trend has forced major players like L’Oréal to dedicate large marketing resources to channels like social media influencers. The growth in natural-ingredients largely targets anti-aging products, with rising efficacy, and prevention for age-old skincare problems like acne, spots, pigmentation, among others. Growing demand for men-tailored premium cosmetic also remains a major driver for growth, as gender-neutral branding of products, and growth of the grooming industry remain major positives or the premium cosmetics market.
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Social Media Influencers Contribute Heavily in Growing Personalization Trend
The demand for personalization caters to several demands including skin-sensitivity, experimentation through online AI tools, and desire to create a unique identity. The demand for personalization is on the rise, also thanks to growing innovation in the packaging industry, enabling personal memorabilia, and gift measures for rising demand of consumers. The trend of rising demand for social media influencers remain a key to growth, as local players continue to find low-barriers to entry in the premium cosmetics market.
Beauty Retailers Play A Crucial Role in Circulation of Premium Cosmetics
Despite major changes across the industry, distribution remains firmly in the grip of specialized beauty retailors. The demand for premium-personalized service, information exchange sessions with experts, and high-quality marketing tools remain key opportunity for growth in the premium cosmetics market. The market also continues to witness demand for more attractive positioning with large displays, and comfortable furniture, more experienced customer service members among others.
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Major players in the premium cosmetics market include Estee Lauder, L’Oréal, Chanel, Elizabeth Arden, Coty, LVMH, Shiseido, Dior Beauty, KAO Corporation, and The Procter & Gamble Company (P&G)among others. The global landscape of the premium cosmetic market remains oligopolistic in nature, with growth momentum shifting towards more lucrative opportunities for small players.
Premium Cosmetics Market Report is Segmented as Below:
By Product
- Skincare
- Haircare
- Makeup
- Fragrance
By Distribution Channel
- Online
- Offline
By Region
North America
- U.S.
- Canada
Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
Asia Pacific
- Japan
- China
- India
- Australia
- Rest of APAC
South America
- Brazil
- Rest of South America
Middle East & Africa
- UAE
- South Africa
- Saudi Arabia
- Rest of MEA
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