NEW
YORK, July 17, 2024 /PRNewswire/ -- The global
beauty and personal care products market size is estimated to grow
by USD 50.9 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of 4.37% during the forecast period. Growing popularity of
anti-pollution skincare products is driving market growth, with a
trend towards emergence of beauty and personal care products with
natural ingredients. However, adverse health effects of
chemical/synthetic ingredients poses a challenge. Key market
players include AMOREPACIFIC Group Inc., Avon Products, Beiersdorf
AG, Chanel Ltd., Coty Inc., Edgewell Personal Care Co., Helios
Lifestyle Pvt Ltd., Johnson and Johnson Services Inc., Kao Corp.,
LOreal SA, LVMH Group., Natura and Co Holding SA, Oriflame
Cosmetics S.A., Revlon Inc., Shiseido Co. Ltd., The Estee Lauder
Companies Inc., The Procter and Gamble Co., Unilever
PLC, and VI JOHN GROUP.
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2017 - 2021
|
Segment
Covered
|
Product (Skincare
products, Haircare products, Color cosmetics, Fragrances, and
Others), Channel (Offline and Online), and Geography (APAC, North
America, Europe, South America, and Middle East and
Africa)
|
Region
Covered
|
APAC, North America,
Europe, South America, and Middle East and Africa
|
Key companies
profiled
|
AMOREPACIFIC Group
Inc., Avon Products, Beiersdorf AG, Chanel Ltd., Coty Inc.,
Edgewell Personal Care Co., Helios Lifestyle Pvt Ltd., Johnson and
Johnson Services Inc., Kao Corp., LOreal SA, LVMH Group., Natura
and Co Holding SA, Oriflame Cosmetics S.A., Revlon Inc., Shiseido
Co. Ltd., The Estee Lauder Companies Inc., The Procter and Gamble
Co., Unilever PLC, and VI JOHN GROUP
|
Key Market Trends Fueling Growth
The beauty and personal care market is experiencing a shift
towards natural and organic products due to growing health
consciousness and consumer awareness of the potential health risks
associated with toxic chemicals. Vendors, including ESSE SKINCARE,
are responding to this trend by producing a range of skincare and
hair care products with natural and organic ingredients. These
products cater to various skin concerns and are free from harmful
chemicals such as parabens, toluene, formaldehyde, artificial
fragrances, dibutyl phthalate (DBP), petroleum-based chemicals,
butylated hydroxyanisole (BHA), and sulfates. The affordability of
these natural and organic offerings is crucial to attracting
price-sensitive consumers. The market's growth is expected to
continue as more manufacturers focus on developing natural and
organic beauty and personal care products. ESSE SKINCARE offers a
comprehensive range of product categories, including cleansers,
toners, treatments, masks, exfoliators, and moisturizers, to cater
to this demand. The potential health risks associated with harsh
chemicals in traditional beauty and personal care products, such as
skin allergies, irritation, and cancer, further highlight the
market's growth potential.
The Beauty and Personal Care Products market is experiencing
significant trends among consumers. Skin care and color cosmetics
remain popular categories, with millennials and Gen Z seeking
natural, nontoxic, and organic ingredients. Sales channels have
expanded to include e-commerce and specialty stores, reaching male
consumers and those preferring vegan cosmetics and eco-friendly
products. Manufacturers respond with product innovation using
natural formulations, such as mushroom-based skin care from Shroom
Skincare and Mycelium Glow. Merger and acquisition activities
continue, with companies like Shinehigh Innovation buying Pacifica
and NARS Cosmetics merging with Shiseido. Consumers are also
turning to home-made remedies and DIY beauty treatments as
alternatives to conventional beauty products. However, concerns
over side effects from chemical filters, parabens, silicones,
nanoparticles, PEG, and other chemical ingredients persist. The
European Commission regulates these ingredients, and some consumers
prefer organic beauty products over their conventional
counterparts. Overall, the Skincare and Haircare markets remain
dynamic, driven by consumer preferences and industry
innovation.
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Market Challenges
- The beauty and personal care industry faces a significant
challenge due to increasing consumer awareness regarding the
harmful effects of synthetic ingredients in their products.
Ammonia, a common ingredient in hair coloring agents, is one such
chemical causing concerns. Found in shaving foams and hair dyes,
ammonia can lead to skin irritation, respiratory issues, and hair
damage. Other chemicals like peroxides, p-phenylenediamine,
diaminobenzene, toluene-2,5-diamine, and resorcinol, found in
various beauty products, can lead to skin irritation, allergies,
hair dryness, and even cancer. As consumers become more
health-conscious, they are turning towards natural and homemade
remedies for skincare and haircare. This shift in consumer behavior
is expected to limit the growth of the global beauty and personal
care products market during the forecast period.
- The Beauty and Personal Care market faces several challenges,
including consumer preferences for nanoparticle-free and PEG-free
products, the rise of chemical filters and natural formulations,
and the side effects of chemical ingredients. Hair problems
continue to be a concern, particularly for Gen Z consumers.
European regulatory bodies, such as the European Commission, are
increasing scrutiny on cosmetic ingredients. Product innovation is
key, with a focus on ESW (ethical, sustainable, and waste-reducing)
initiatives. Merger and acquisition activities among brands like
Shinehigh Innovation, Pacifica, NARS Cosmetics, Neon Hippie, and
new entrants like Mushroombased skin care, Shroom Skincare, and
Mycelium Glow, are shaping the market. Consumers are also turning
to home-made remedies and DIY beauty treatments, while
international trade and e-commerce platforms expand access to
conventional and organic beauty products. Vitamin C and mushroom
extracts are popular ingredients, driving growth in the skincare
and haircare markets. Specialty stores and online platforms cater
to diverse consumer needs.
For more insights on driver and
challenges - Download a Sample Report
Segment Overview
This beauty and personal care products market report extensively
covers market segmentation by
- Product
- 1.1 Skincare products
- 1.2 Haircare products
- 1.3 Color cosmetics
- 1.4 Fragrances
- 1.5 Others
- Channel
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Skincare products- The skincare segment in the
beauty and personal care products market is experiencing consistent
growth due to increasing global awareness of skincare and
customers' willingness to invest in premium products. Natural and
organic skincare products, free of synthetic chemicals, are gaining
popularity as consumers seek maximum value. Air pollution and the
demand for specialized anti-aging and skin cleansing products are
additional growth drivers. North
America and Europe dominate
the market, while digitalization and online retailers, including
Amazon and Sephora, expand reach and accessibility. Millennials,
who prioritize health and style, are the primary consumer group,
influenced by brands with strong social media presence. The market
is poised for continued growth during the forecast period.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2017 -
2021) - Download a Sample Report
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Probiotic cosmetics, enriched with beneficial bacteria, are
gaining popularity for their skin health benefits, including
hydration and anti-inflammatory properties. The market is expanding
as consumers seek natural skincare solutions. Beauty drinks are
beverages infused with vitamins, minerals, and collagen, promising
skincare benefits from within. This market is driven by increasing
health consciousness and the desire for convenient beauty-enhancing
products. Cosmetic oils, such as argan and coconut oil, are
renowned for their moisturizing and anti-aging properties, driving
growth in skincare and haircare products. The market is
characterized by the rising demand for organic and natural
ingredients in personal care formulations.
Research Analysis
The Beauty and Personal Care Products market is experiencing
significant growth, driven by the increasing demand from consumers
for Skin care, Color cosmetics, and Hair care products. Millennials
and Gen Z are leading this trend, with a preference for Cosmetics
that contain Natural ingredients, Nontoxic ingredients, and Organic
ingredients. Sales channels have expanded beyond traditional retail
stores to include E-commerce and Specialty stores. Male consumers
are also embracing the market, with a growing interest in Vegan
cosmetics and Ecofriendly products. Product innovation continues to
be a key driver, with an emphasis on Natural formulations and ESW
(Ethical, Sustainable, and Waste-free) initiatives. Merger and
acquisition activities have been frequent in the market, with the
European Commission closely monitoring for compliance with
regulations. Home-made remedies and DIY beauty treatments are
gaining popularity, but they face competition from Conventional
beauty products and Organic beauty products in the Skincare
market.
Market Research Overview
The Beauty and Personal Care Products market is a dynamic and
evolving industry, catering to the diverse needs of consumers
worldwide. Skin care, color cosmetics, and hair care are the major
segments, with a growing focus on natural, nontoxic, and organic
ingredients. Millennials and Gen Z are driving demand for cosmetics
with clean labels and eco-friendly packaging. Sales channels
include specialty stores, e-commerce, and international trade. Male
consumers and vegan cosmetics are emerging trends. Product
innovation is key, with companies exploring natural formulations,
merger and acquisition activities, and the use of ingredients like
mushroom extracts and Vitamin C. However, concerns over parabens,
silicones, nanoparticles, PEG, chemical filters, and other chemical
ingredients continue to surface, leading to a shift towards more
natural alternatives. Home-made remedies and DIY beauty treatments
are also gaining popularity among some consumers. The European
Commission is closely monitoring the industry for regulatory
compliance. Overall, the market is expected to continue growing,
driven by consumer preferences and advancements in technology.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
-
- Skincare Products
- Haircare Products
- Color Cosmetics
- Fragrances
- Others
- Channel
-
- Geography
-
- APAC
- North America
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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