Cosmetics- Market Scope
Cosmetics refer to products that enhance or alter the appearance of the face, body, or hair. They are typically applied topically and can include a wide range of products such as makeup, skincare items, hair care products, fragrances, and personal care products. Cosmetics can be found in various forms, including creams, lotions, powders, gels, sprays, and sticks. They are available in different colors, shades, and formulations to cater to different skin types, tones, and preferences. In addition to women, men are also increasing their use of cosmetics daily, which complements the growth of the global cosmetics market demand.
|Unit||Value (USD Million)|
|Key Companies Profiled||L'Oréal S.A. (France), The Estée Lauder Companies Inc. (United States), Revlon, Inc. (United States), Coty Inc. (United States), Avon Products, Inc. (United Kingdom), Unilever (United Kingdom), Shiseido Company, Limited (Japan), Procter & Gamble (United States), Beiersdorf AG (Germany) and Henkel AG & Co. KGaA (Germany)|
Differentiating products is a key strategy in the cosmetics industry. Manufacturers develop unique and innovative formulations, use high-quality ingredients, and focus on product performance to stand out from competitors. They may also offer a diverse range of shades, colors, and options to cater to a wide range of consumer preferences as well as building a strong brand and implementing effective marketing strategies are crucial in the cosmetics market. Apart from this, players explore new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
L'Oréal S.A. (France), The Estée Lauder Companies Inc. (United States), Revlon, Inc. (United States), Coty Inc. (United States), Avon Products, Inc. (United Kingdom), Unilever (United Kingdom), Shiseido Company, Limited (Japan), Procter & Gamble (United States), Beiersdorf AG (Germany) and Henkel AG & Co. KGaA (Germany) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Kao Corporation (Japan) and Oriflame Holding AG (Switzerland).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
The study have segmented the market of Global Cosmetics- market by Type and Region with country level break-up.
On the basis of geography, the market of Cosmetics- has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). region held largest market share in the year 2022.
Market Leaders and their expansionary development strategiesIn November 2021, Coty Inc. announced a partnership agreement with Perfect Corp. The company is known for integrating various AI and AR practices into its digital marketing toolkits for cosmetic brands. and In January 2020, Natura & Co. acquired Avon Products, Inc., a beauty and personal care product provider. This acquisition helped to expand Natura's product portfolio.
In March 2022, L'Oréal announced a new investment in a venture led by biotech company Geno to develop sustainable alternatives to key ingredients in its beauty products.
The Food and Drug Administration (FDA) regulates cosmetics in the United States under the Federal Food, Drug, and Cosmetic Act (FD&C Act). The FDA sets guidelines and regulations for cosmetic safety, labeling, ingredient restrictions, and product claims.
Influencing Trend:Increase In the Trend of Using a Variety of Skin Care, Hair Care, and Beauty Care Products and Rapidly Increase in Online Sales Channels and Marketing Activities
Market Growth Drivers:Rapid Changing Lifestyle of People, Increase Adoption of Skincare and Personal Care Products by Consumers and Rising Consumer Expenditure on Cosmetics and Personal Care Items
Challenges:Highly Competitive with Numerous Brands and Products Available to Consumers
Restraints:Increase In Awareness of Probable Side Effects of Cosmetics and Skin Concerns Among Customers
Opportunities:Rising Awareness Regarding Hygiene and Grooming by Consumers and Increasing Men's Grooming Market is Experiencing Significant Growth
Key Target AudienceCosmetic Manufactures, Distributors and Suppliers, New Entrants and Investors, Governmental Bodies, Regulatory Bodies, Transportation Industry, Market Research and Consulting and Others