Press release
Black Beauty Market is on an Upward Growth Curve
According to the latest research by InsightAce Analytic, the Global Black Beauty Market Size is valued at USD 9.2 Bn in 2024 and is predicted to reach USD 31.6 Bn by the year 2034 at a 13.2% CAGR during the forecast period for 2025-2034.
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Black beauty refers to a diverse range of products and services specifically developed to meet the unique needs and preferences of Black consumers. Market growth is driven by ongoing innovations in ingredients and technologies designed to address specific requirements, including skincare solutions for targeted concerns and haircare products suitable for a variety of hair textures.
Companies that prioritize multicultural and inclusive product offerings, supported by tailored marketing strategies, are better positioned to attract and retain Black consumers, thereby enhancing brand loyalty and engagement. However, in price-sensitive markets, the cost of specialized texturizing ingredients and advanced processing techniques can be substantial. Manufacturers face an ongoing challenge in balancing affordability with high-quality formulations, which may limit the market's expansion potential.
List of Prominent Players in the Black Beauty Market:
• SheaMoisture
• Carol's Daughter
• The Mane Choice
• Black Opal Beauty
• Fenty Beauty by Rihanna
• IMAN Cosmetics
• Juvia's Place
• Briogeo Hair Care
• Aunt Jackie's Curls & Coils
• Urban Hydration
• Camille Rose Naturals
• Taliah Waajid Natural Hair Care
• Beauty Bakerie
• Pattern Beauty by Tracee Ellis Ross
• Others
Market Dynamics:
Drivers-
The Black beauty market is increasingly driven by the influence of social media on beauty standards and consumer preferences. Social media platforms play a pivotal role in shaping trends, showcasing diverse beauty norms, and amplifying the influence of industry experts and beauty influencers. By effectively integrating emerging trends with consumer needs, social media significantly impacts purchasing behavior. For example, tutorials or endorsements by prominent beauty influencers can generate substantial spikes in demand for specific products.
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Challenges:
Key challenges to the growth of the Black beauty market include limited consumer awareness, shortages of skilled professionals, and the absence of standardized practices, particularly in developing regions. High costs of specialty ingredients, energy-intensive production processes, and the potential for allergenic content can constrain market growth. Additionally, some products-particularly texture-enhancing formulations-may cause adverse effects such as skin irritation, infections, rashes, or gastrointestinal issues, which could negatively impact consumer confidence. Supply chain disruptions, exacerbated by the COVID-19 pandemic, have also affected the availability and cost of raw materials, influencing product accessibility and pricing.
Regional Trends:
North America is projected to hold the largest revenue share in the Black beauty market, supported by rising disposable incomes and increasing demand for premium and luxury beauty products. The expansion of cosmetic brands in the region is further bolstered by a growing population of working women and the proliferation of beauty clinics. Europe also represents a significant portion of the market, driven by technological advancements, higher affluence, and evolving consumer preferences. Increasing discretionary income and shifts in purchasing behavior are key factors sustaining market demand in the region.
Recent Developments:
• In June 2024, Proctor & Gamble and IMAN Cosmetics, Beauty Care, and Aromas established their strategic cooperation. The prestigious brand defied tradition again within the terms of the license and marketing deal, and it is currently offered at major retailers like Amazon, Walmart, Target, Walgreens, and Drugstore Reader.
• In March 2024, Urban Hydration's organic, potent, and reasonably priced beauty and haircare offerings are redefining the industry. These items are currently conveniently available at Amazon, allowing you to update your cosmetic routine. These products are a must-try as they guarantee amazing outcomes.
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Segmentation of Black Beauty Market-
By Cosmetics-
• Face Cosmetic
• Eye Cosmetic
• Lip Cosmetic
• Others
By Facial Skin Care-
• Facial Moisturizer
• Facial Treatment
• Eye Skin Care
• Others
By Fragrance-
• Cologne & Perfume
• Body Spray
• Gift Sets
• Others
By Hair Care-
• Hair Accessories
• Conditioner
• Styling Products
• Others
By HBL-
• Body Lotion
• Eczema & Psoriasis
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa
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About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.https://www.insightaceanalytic.com/images_data/148861653.
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InsightAce Analytic Pvt. Ltd.
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