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Cosmetics And Personal Care Stores Market Trends That Will Shape the Next Decade: Insights from Innovative Strides In Cosmetics And Personal Care Store Market
Cosmetics And Personal Care Stores
How Large Will the Cosmetics And Personal Care Stores Market Size By 2025?
Recently, there has been a substantial growth in the market size of cosmetics and personal care stores. The market, which was valued at $372.74 billion in 2024, is predicted to expand to $403.74 billion in 2025, displaying a compound annual growth rate (CAGR) of 8.3%. This robust growth during the historic period is thanks to factors such as emerging beauty consumer trends, favorable economic conditions, effective marketing and branding strategies, the impact of social media, and expansion in retail.
How Big Is the Cosmetics And Personal Care Stores Market Size Expected to Grow by 2029?
The market size of cosmetics and personal care stores is predicted to witness substantial expansion in the forthcoming years, sprouting to $531.94 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 7.1%. Several factors contributing to this growth within the forecast period include the burgeoning of e-commerce, adherence to sustainability and clean beauty standards, inclusivity and diversity, formulation innovations, and global beauty trends. Key trends expected during the forecast period are the development of clean beauty retail environments, personalized services backed by data, subscription models and beauty boxes, environmentally friendly and sustainable packaging, and the boom in experiential retail and beauty services.
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Which Key Market Drivers Powering Cosmetics And Personal Care Stores Market Expansion and Growth?
Expectations for improved health habits and sanitation are predicted to spur the expansion of the cosmetics and personal care stores sector. Living healthily involves maintaining physical and mental health through a well-balanced diet, regular exercise, sufficient sleep, stress management, and social interaction, while sanitary living encompasses habits that encourage cleanliness and wellness, including regular hand washing, facial hygiene, and bathing with soap and water, among others. By offering a variety of products, cosmetics and personal care stores offer support for better lifestyle and cleanliness, aiding individuals in keeping their bodies clean, healthy, and presentable. For example, a statistical report released by Statistics Canada, a statistical agency based in Canada, revealed that the Consumer Price Index for health and personal care rose from 134.6 in February 2022 to 143.0 in March 2023, marking a 6.2% growth. Hence, the quest for a healthier lifestyle and sanitary living is a significant driver for the cosmetics and personal care stores industry.
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Which Fast-Growing Trends Are Poised to Disrupt the Cosmetics And Personal Care Stores Market?
Product innovation is becoming an increasingly prominent trend in the makeup and personal care retail market. The primary businesses involved in this market are concentrating on designing innovative strategies to solidify their market position. To illustrate, in March 2023, Walmart Inc., an American retail corporation, introduced Clean Beauty, an e-commerce platform that helps consumers find beauty products. Moreover, numerous beauty brands available at Walmart are investigating more eco-friendly packaging options, evaluating their environmental impact, and adhering to animal-friendly and ethical practices. The distinctiveness of this platform resides in its commitment to manufacturing products void of specific ingredients, captured in a 'Made Without List' developed by Walmart in conjunction with state and federal regulators, suppliers, and experts, including the Environmental Defense Fund (EDF).
What Are the Emerging Segments in the Cosmetics And Personal Care Stores Market?
The cosmetics and personal care stores market covered in this report is segmented -
1) By Product: Skin Care, Hair Care, Color Cosmetics, Fragrances, Other Products
2) By Raw Materials: Organic, Inorganic
3) By Distribution Channel: E - Commerce, Direct Selling, Specialty Stores, Hyper markets And Retail Chains, Other Distribution Channels
Subsegments:
1) By Skin Care: Moisturizers, Cleansers, Sunscreens, Anti-Aging Products
2) By Hair Care: Shampoos, Conditioners, Hair Styling Products, Treatments
3) By Color Cosmetics: Foundations, Lipsticks, Eye Makeup, Blushes
4) By Fragrances: Perfumes, Eau de Toilettes, Body Sprays
5) By Other Products: Oral Care Products, Bath And Body Products, Men's Grooming Products
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Who Are the Global Leaders in the Cosmetics And Personal Care Stores Market?
Major companies operating in the cosmetics and personal care stores market include Unilever plc, The Estée Lauder Companies Inc., Shiseido Co. Ltd., Revlon Inc., Procter & Gamble Co., L'Oréal S.A., Coty Inc., Kao Corporation, Sephora USA Inc., Ulta Beauty Inc., Lush Cosmetics, Bath & Body Works LLC, The Body Shop International Limited, Kiehl's LLC, MAC Cosmetics, Origins Natural Resources Inc., Aveda Corporation, Avon Products Inc., Mary Kay Inc., Amway Corporation, Nu Skin Enterprises Inc., Rodan & Fields LLC, Arbonne International LLC, Younique LLC, Beautycounter Inc., Tarte Inc., Glossier Inc., Morphe Inc., ColourPop Cosmetics, Fenty Beauty
Which are the Top Profitable Regional Markets for the Cosmetics And Personal Care Stores Industry?
Asia-Pacific was the largest region in the cosmetics and personal care stores market in 2024. Asia-Pacific is expected to be the cosmetics and personal care stores market report fastest-growing region in the forecast period. The regions covered in the cosmetics and personal care stores market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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