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Luxury Cosmetics Market is Expected to Garner $81,247.6 Million by 2026 | Organic Segment is Expected to Grow At a CAGR of 7.60% During the Forecast Period
Luxury Cosmetics Market
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Luxury cosmetics refer to the cosmetic products, which are used to cleanse the skin. They are manufactured using premium quality and organic ingredients, which are priced at a higher end as compared to consumer cosmetic products. Luxury cosmetics are primarily divided into skincare, haircare, makeup products, and fragrances, which are manufactured using premium quality ingredients and sold largely through specialty stores and e-commerce.
The organic products segment in the luxury cosmetic market is anticipated to exhibit the highest market share during the forecast period. The global rise in health consciousness among individuals boosts the demand for organic and natural cosmetic products in various countries across the globe. The global luxury cosmetics market is primarily driven by rise in consumer demand for products manufactured using naturally derived ingredients as compared to synthetic.
In addition, the increase in use of e-commerce (brand) websites to purchase luxury products, which are not available in the home country further propels the growth of the market. Moreover, rise in disposable income in the developing nations has majorly influenced the cosmetics consumption pattern among individuals in those regions. In addition, the rise in awareness among consumers regarding halal cosmetics has to a great extent prompted the market's growth worldwide.
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According to global luxury cosmetics market analysis, the market is segmented based on type, product type, end user, distribution channel, and region. By type, it comprises organic and conventional products. Based on product type, it is classified into skincare, haircare, makeup and fragrances. By end user, it is bifurcated into male and female. By distribution channel, it is categorized into supermarket/hypermarket, e-commerce, specialty/monobrand stores, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major players in the global luxury cosmetics industry analyzed in this report include L'Oréal, Shiseido Company, Limited, Christian Dior, Puig, Coty Inc., Kao Corporation, Revlon, Inc., The Estée Lauder Companies Inc., Oriflame Cosmetics AG, and KOSÉ Corporation.
Key Benefits for Luxury Cosmetics Market:
○ This report provides a quantitative market analysis of the current luxury cosmetics market trends, estimations, and dynamics of the global luxury cosmetics market size from 2019 to 2026 to identify the prevailing opportunity.
○ The key countries in all the major regions are mapped based on their market share.
○ Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
○ A comprehensive analysis of factors that drive and restrict the luxury cosmetics market growth is provided.
○ An in-depth analysis of the global luxury cosmetics market helps determine the prevailing market opportunities.
○ The report includes details of the analysis of the regional and global markets, key players, market segments, application areas, and growth strategies.
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