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Global Cosmetics Stores Market Forecast 2023-2032 - Size, Lucrative Segments And Leading Regions | Avon Beauty Products India Private Limited, Kao Corporation, L'Oréal S.A.
Global Cosmetics Stores Market Forecast 2023-2032
The Business Research Company's Cosmetics Stores Global Market Report 2023 identifies Increasing demand for cosmetic products as the major driver for the Cosmetics Stores market's growth in the forecast period. Cosmetic products refer to any preparation that intends to be applied to the skin and other body parts to improve their appearance and make them more appealing. The demand for cosmetic products is mainly driven by the growing awareness of personal hygiene and skin health, the availability of a wide range of affordable and effective cosmetic products, increasing disposable income, and others. Most individuals prefer buying cosmetic and beauty care products from cosmetic stores due to the availability of personalized products, high in-store experiences, higher discount rates, and convenience in buying and product placement which has driven the cosmetic stores.
The global cosmetics stores market size is expected to grow from $107.25 billion in 2022 to $116.27 billion in 2023 at a compound annual growth rate (CAGR) of 8.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global cosmetics stores market size is expected to reach $151.63 billion in 2027 at a CAGR of 6.8%.
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Major competitors in the Cosmetics Stores market are Avon Beauty Products India Private Limited, Kao Corporation, L'Oréal S.A., Oriflame Cosmetics S.A., Revlon Inc
Technological advancement is a key trend in the cosmetic stores market. Major players in the market are focusing their efforts on creating innovative technologies to strengthen their position in the market. For instance, in July 2020, Amorepacific Corporation, a South Korea-based beauty and cosmetics company, installed an augmented reality (AR) mirror. The mirror takes a picture of the user's face and analyses it, making product recommendations depending on the skin's texture and taking care of any imperfections like pimples, wrinkles, or dark circles. Then, customers can view an image created by a computer showing how they might appear while using a variety of foundations, blushes, eye cosmetics, and lipsticks.
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The Cosmetics Stores market is segmented -
• By Product: Skin Care, Hair Care, Makeup, Fragrance, Other Products
• By Price Range: Premium, Economy
• By Gender: Men, Women, Unisex
• By Distribution Channel: Offline, Online
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Cosmetics Stores market.
The Business Research Company's "Global Cosmetics Stores Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Cosmetics Stores Market Include:
1. Executive Summary
2. Cosmetics Stores Market Characteristics
3. Cosmetics Stores Market Trends And Strategies
4. Cosmetics Stores Market - Macro Economic Scenario
5. Cosmetics Stores Market Size And Growth
……
26. Africa Cosmetics Stores Market
27. Cosmetics Stores Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Cosmetics Stores Market
29. Cosmetics Stores Market Future Outlook and Potential Analysis
30. Appendix
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