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Toiletries Global Market Report 2024 Market Size, Trends And Forecast 2024-2033"
Toiletries Global Market Report
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According to The Business Research Company's, The toiletries market size has grown rapidly in recent years. It will grow from $349.95 billion in 2023 to $391.95 billion in 2024 at a compound annual growth rate (CAGR) of 12.0%. The growth in the historic period can be attributed to growing demographic changes, consumer preferences, marketing and advertising, health and wellness trends.
The toiletries market size is expected to see rapid growth in the next few years. It will grow to $620.08 billion in 2028 at a compound annual growth rate (CAGR) of 12.2%. The growth in the forecast period can be attributed to sustainability and eco-friendly products, personalization trends, wellness and self-care culture, innovations in ingredients, globalization of brands. Major trends in the forecast period include digital marketing and e-commerce, technological advancements, natural and organic products, personalization and customization, wellness and self-care, men's grooming products.
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Market Drivers and Trends:
The ageing population is expected to be a growth driver for this market. Sales of products such as anti-aging creams and peels, wrinkle-reducing moisturizers, and other anti-aging topical treatments are expected to increase. Apart from this, older women usually have more disposable income than younger women. This will make it easier for them to spend more on cosmetics. For instance, in July 2022, according to the World Population Prospects 2022 published by relief web, a US-based humanitarian information portal, stated the global population aged 65 years or above is projected to rise from 10% in 2022 to 16% in 2050. Thus, driving the toiletry market going forward.
Companies are focusing on the manufacturing of toiletries based on natural and organic products due to increased awareness of consumers about the hazards due to the usage of synthetic materials. Toiletries are products focused on consumer hygiene and beatification. Companies are producing products with a high rate of transparency in ingredients, packaging, and sustainability as the end-users are opting for a healthy lifestyle. Natural and organic products are obtained from plant extracts, vegetables, and essential oils with higher levels of vitamin C and essential minerals such as calcium, magnesium, iron, and chromium and are eco-friendly. For instance, by March 2021, Maybelline and Lancôme maker L'Oréal aims to derive nearly all its ingredients from renewable plant sources and abundant minerals by 2030, as demand for organic and environmentally friendly cosmetics grows.
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Major Key Players of the Market:
Itochu Corporation, Johnson & Johnson, Tesco plc, The Procter & Gamble Company, Seven & i Holdings Co. Ltd., Alimentation Couche-Tard Inc., Unilever plc, L'Oréal S.A., Himalaya Wellness Limited, Casin & Country Stores Inc., Henkel AG & Co. KGaA, Reckitt Benckiser Group plc, Kimberly-Clark Corporation, Colgate-Palmolive Company, The Estée Lauder Companies Inc., Kao Corporation, Auchan Holding S.A., Maxingvest ag, Beiersdorf AG, Shiseido Company Limited, LG Household & Health Care Ltd.,Co. Inc., Coty Inc., Avon Products Inc., Oriflame Holding AG, SPAR International B.V., Magnit PJSC
Toiletries Market 2024 Key Insights:
• The toiletries market size is expected to see rapid growth in the next few years. It will grow to $620.08 billion in 2028 at a compound annual growth rate (CAGR) of 12.2%.
• Ageing Population Fuels Growth In The Toiletries Market
• Surge In Natural And Organic Products In Toiletries Products
• Asia-Pacific was the largest region in the toiletries market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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