Cosmetics Market: Set to Explode and Reach US$ 523.5 Billion by 2028

IMARC Group, a leading market research company, has recently releases report titled "Cosmetics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028." The study provides a detailed analysis of the industry, including the global cosmetics market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the Cosmetics Market?

The global cosmetics market size reached US$ 379.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 523.5 Billion by 2028, exhibiting a growth rate (CAGR) of 4.9% during 2023-2028.

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What Is Cosmetics?

Cosmetics encompass a diverse array of products employed to enhance or modify the way the human body looks. This category encompasses a broad spectrum of items, including makeup, skincare solutions, fragrances, hair care products, and personal grooming items. Cosmetics are intended for external application and cater to individuals of all genders and age brackets. Formulated with a variety of ingredients, they serve to offer aesthetic enhancements, protective qualities, and nourishing benefits to the skin, hair, and overall appearance. Throughout history, cosmetics have held a significant role in human culture, dating back centuries, with ancient societies utilizing natural substances for purposes of beautification.

What are the growth prospects and trends in the Cosmetics industry?

The growing emphasis on personal grooming and self-expression is propelling the cosmetics industry forward. Furthermore, individuals are in search of products that not only enhance their natural beauty and bolster their confidence but also grant them the freedom to experiment with various appearances. This hunger for self-expression and uniqueness is propelling the cosmetics sector's expansion as it consistently pioneers to provide an extensive array of choices to cater to diverse consumer preferences. The rising awareness of skincare and overall well-being is also playing a role in the cosmetics market's enlargement.

Consumers are increasingly mindful of the significance of maintaining healthy skin and hair. Consequently, they are on the lookout for products that offer nourishment, protection, and anti-aging advantages. This inclination has given rise to cosmetics with a strong focus on skincare, as well as the inclusion of natural and organic elements in product formulations. Additionally, the impact of social media and digital platforms has brought about a significant transformation in the cosmetics industry. Beauty influencers and online tutorials have wielded substantial influence over consumer purchasing decisions, steering trends and generating demand for specific products. The capability to discover and explore novel products through online platforms has augmented consumer engagement, further stimulating market growth. In response to these driving forces and trends, the cosmetics sector remains dynamic, embracing innovation, inclusivity, and sustainability to fulfill the constantly evolving desires of consumers worldwide.

Who are the key players operating in the industry?

The report covers the major market players including: 

Amway Corp
Avon Products Inc.
Beiersdorf AG
Henkel AG & Co. KGaA
Kao Corporation
L'Oréal S.A.
Oriflame Cosmetics AG
Procter & Gamble Company
Revlon Inc. (MacAndrews & Forbes Incorporated)
Shiseido Company Limited
Skinfood Co. Ltd
The Estée Lauder Companies Inc
Unilever plc.
What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Product Type:

Skin and Sun Care Products
Hair Care Products
Deodorants and Fragrances
Makeup and Color Cosmetics
Others

Breakup by Category:

Conventional
Organic

Breakup by Gender:

Men
Women
Unisex

Breakup by Distribution Channel:

Supermarkets and Hypermarkets
Specialty Stores
Pharmacies
Online Stores
Others

Breakup by Region:

North America
Europe 
Asia Pacific
Latin America
Middle East and Africa

Ask Analyst for Customization and Explore full Report with TOC & List of Figures:  https://www.imarcgroup.com/request?type=report&id=4418&flag=C

Key Highlights of the Report:                                                           

Market Performance (2017-2022)
Market Outlook (2023-2028)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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