Cosmetic and Personal Care Stores Markets is Anticipated to Grow at a Robust CAGR During 2022

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Summary

Global cosmetic and personal care stores market growth outlook is positive with significant growth potential for skin care and cosmetic stores. Companies are investing in designs and digital technologies to improve sales and in-store experiences for its customers. At the same time, emerging markets growth, aspirational lifestyles, rapid urbanization, rising millennial population, and technological advances is driving the demand of cosmetic and personal care stores market.

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The cosmetic and personal care stores market reached a value of nearly REDACTED in 2017 and is expected to grow at a compound annual growth rate (CAGR) of REDACTED to nearly REDACTED by 2020. The cosmetic and personal care stores market is concentrated with large players dominating the market. Major players in the market include Walgreens Boots Alliance, LVMH, CK Hutchison Holdings, The Estee Lauder and others.

Cosmetics accounted for the largest share of the cosmetic and personal care stores market in 2017 at REDACTED. The highest growth is projected to come from Skin care, which is forecasted to grow at a CAGR of REDACTED. Major factors included economic growth, rising income levels and rapid growth in millennial population globally.

Asia-Pacific is the largest cosmetic and personal care stores market, accounting for REDACTED of the global market. It was followed by Western Europe and South America region. Going forward, Eastern Europe is expected to witness the fastest growth in the cosmetic and personal care stores market, estimated at grow at a CAGR of REDACTED, followed by South America, which is expected to grow at a CAGR of REDACTED.

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The USA is the largest market in terms of value and in the cosmetic and personal care stores market. India and China are forecasted to have the fastest growth, growing at a CAGR of REDACTED and REDACTED, respectively.

The market is challenged by restraints such as growing popularity of e commerce platforms, counterfeit products and increased trade protectionism.

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