Personal Care Products Market Size, Covid-19 Impact Analysis, key Insights Based on Product Type, End-use and Regional Demand Till 2027
COVID-19 Scenario Analysis:
• The closure of factories due to COVID-19 led to the decline in the production of the personal care products in the industries. This not only affected the scale of production but also the growth of these industries.
• The online platforms, shops and retail stores were shut due to lockdown observed worldwide. This also affected the trade of these products which in turn hampered the sales of personal care products in various countries around the world.
• Though this market got affected by COVID-19 but once the situation will be in control, the sales and market condition will surely improve as personal care products have become very common among the households and are being used by the people on daily basis.
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Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Increase in the awareness regarding body care and personal care products, introduction of new technology to drive the market, and rise in per capita disposable income are some of the major factors that contribute toward the growth of the market.
Growth of the distribution channels and easy accessibility to e-commerce websites are making products reach to wider population. With the help of intense research and development in the category of oral care and related niche products, these products are expected to gain better market share during the forecast period.
However, the management of logistics related to cosmetics requires a lot of expertise in several areas like properly handling large proportion of products, storing at the right temperature, navigating the licenses, and delivering products at a competitive cost. Hence, these factors limit the growth of the personal care products market.
Popularity of organic products:-
As there is rise in the awareness among the people regarding beauty products, they prefer organic products instead of the chemical-based ones. Therefore, major players of the market are developing several new ranges of products with varied flavors and essence owing to technological advancements and market demand. This fuels the growth of the market.
For example, in 2019, India’s one of the prime organic personal care brand, Organic Harvest, launched range of certified organic serum-based masks in different variants, which included anti-acne masks and anti-wrinkle masks. This helped the company increase its consumer base.
Mexico is turning out to be an important market for the personal care products due to rise in the awareness regarding natural beauty care products. The region also has favorable regulatory support and in future it is expected to lead to new investments in the domestic market.
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•Companies covered Aveda Corporation, Yves Rocher SA, Burt’s Bees, The Hain Celestial Group, Amway Corporation, Bare Escentuals Beauty Inc., Neutrogena Corporation, Arbonne International LLC, The Body Shop International PLC, The Estée Lauder Companies Inc.
Key Benefits of the Report:
• This study presents the analytical depiction of the global personal care products industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global personal care products market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global personal care products market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed global personal care products market analysis based on competitive intensity and how the competition will take shape in the coming years.
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