|12-07-2018 11:03 AM CET - Business, Economy, Finances, Banking & Insurance||
Premium Cosmetics Market Growth by Top Key Players - 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.
Press release from: Coherent Market Insights
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.
Leading market player such as L’Oreal S.A. generated 37% of its annual revenue in 2017 from its skincare segment. The company has identified the segment as a high growth segment and launched multiple products to boost its sales. Multifunctional products, which incorporate the properties of different products such as skincare, make-up into one are gaining significant traction.
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. According to L’Oreal, China recorded US$ 77 spending per capita per person on cosmetics in 2016 with US$ 71 by consumers aged 14–18 years and US$ 85 by consumers aged 19–24 years. Increasing number of company are seeking investments in these countries due to high growth potential, this in turn, is increasing growth of 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:
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About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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This release was published on openPR.
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