Premium Cosmetics Market growth prospects with challenges, analysis of regional trends, key players L’Oréal S.A., Avon Products Inc., The Procter & Gamble Company (P&G), Unilever plc, Oriflame Holding A.G., Revlon Inc

Premium cosmetics are manufactured by utilizing certain specialty ingredients. These cosmetics are usually accompanied with some value addition such as organic ingredients including essential oils, plant extracts, microalgae, and pearl extracts. These products usually cost higher than other ingredients and thus are responsible for the high price of premium cosmetics. Premium products are made using organic ingredients such as essential oils, plant extracts, microalgae, and pearl extracts, which usually cost higher than other ingredients.

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Increasing beauty consciousness among the populace in emerging economies is boosting growth of the premium cosmetics market. Increasing inclination of males towards overall body care coupled with social trends related to beauty and cosmetics, is also fueling market growth.

Growing online retail around the world is responsible for growth of this segment. According to India Brand Equity Foundation Report (IBEF), in 2016, over 62% of young consumers in major economies prefer online stores for buying beauty & grooming products. Moreover, ease of access and reliable services of giant online retail stores such as Alibaba Group (China), Amazon Inc. (U.S.), and Flipkart (India) play a major role in growth of the online segment.

Global Premium Cosmetics – Market Outlook:

North America is expected to account for the largest market share in the global premium cosmetics market during the forecast period (2018-2025). The market in the region is supported by stringent regulations imposed on the use of harmful chemicals in cosmetics. For instance, various regulatory bodies such as United States Department of Agriculture (USDA) and Food and Drug Administration (FDA) are restricting the use of harmful chemicals in cosmetic products. For example, chemicals such as formaldehyde and hydroquinone which are banned in few countries around the world.

In Asia Pacific, a thriving retail sector will boost the market for premium cosmetics. According to Indian and Chinese government sources, the retail sector in India and China was valued at US$ 950 billion and US$ 11 trillion, respectively in 2017. Furthermore, growing urbanization in emerging economies in the region is expected to boost the market for premium cosmetics in the region.

Major players operating in the premium cosmetics market include L’Oréal S.A., Avon Products Inc., The Procter & Gamble Company (P&G), Unilever plc, Oriflame Holding A.G., Revlon Inc., The Estee Lauder Companies Inc., Shiseido Company Ltd., and Coty Inc.

Global Premium Cosmetics Market – Market Taxonomy:

On the basis of distribution channel:

Hypermarket
Supermarket
Specialty Stores
Online
Others

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