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Global Premium Beauty & Personal Care Products Market Rising Demand Leads to Sustained Growth during the Period 2017-2022
Fact.MR
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The report offers an overview of the global premium beauty & personal care products market. This comprises an introduction to the market, along with a standard definition of the product – premium beauty & personal care products. In this section, market value and year-over-year growth is offered to the readers. Year-over-year growth provides readers with a broader view of growth patterns over the forecast period.
The report’s succeeding section focuses on drivers, restraints and key trends from macroeconomic, demand, and supply perspectives. Impact analysis of weighted average model-based growth drivers is contained in the report for better provision of decision-making insights to clients.
Key Report Highlights
1) Premium beauty & personal care products are likely to be extravagant for common consumers, but high-spending consumers in countries such as the US and Canada will continue to promising customer demographics in the global market. In the report, the premium beauty & personal care products market in North America is projected to dominate the global market.
2) Manufacturers of premium beauty & personal care products, however, are reluctant to set up their production bases in North America. For reasons namely, low wage costs, easy raw material availability, and lenient manufacturing laws, key players in the global premium beauty & personal care products market are expanding their manufacturing presence across the Asia-Pacific excluding Japan (APEJ) region. By the end of 2017, over 20% of the global market revenues are likely to come from sales recorded in the APEJ region.
3) Europe’s premium beauty & personal care products market is also expected to grow steadily, and will bring in US$ 36 Bn towards the end of the forecast period.
4) The report stresses the high demand for premium skin care products across the globe. With changing climatic conditions and rising exposure to televised media platforms, consumers will be drawn towards adopting premium skin care in their daily routines. With an approximate one-third revenue share, premium skin care products will procure over US$ 45 Bn in global revenues by the end of 2022.
5) Sales of premium beauty & personal care products through e-commerce websites is slated to gain traction towards the latter half of the forecast period. However, hypermarkets/supermarkets will be observed as the largest channel for sales of premium beauty & personal care products in the global market.
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E-Commerce – Promising Sales Outlet
While analysing the sales of premium beauty & personal care products in the global market, the report predicts that e-commerce websites will turn out to be bankable sales outlets in the future. Consumer demographics associated with maximum sales of premium beauty & personal care products are expected to remain more inclined towards online purchases. In addition to this, transparent payment options and product return policies will build trustful rapport among customers and manufacturers, and thereby boost the penetration of e-commerce sales in the global premium beauty & personal care products market.
While e-commerce will be observed as a promising and emerging sales channel in the global market, a majority of premium beauty & personal care products will be sold through hypermarkets and supermarkets. The report clearly projects that hypermarkets will be the largest sales channel for premium beauty & personal care products through 2022, accounting for more than US$ 58 Bn worth of global revenues.
Competition Tracking
The report further monitors recent and influential undercurrent in the competitive landscape of global premium beauty & personal care products market. With advancements in production technology, manufacturers are expected to adopt the use of organic materials and boost the presence of “eco-friendly” labels in their product portfolio. Companies such as Unilever, Loreal Group, The Estée Lauder Companies Inc., Kao Corporation, Beiersdorf AG, Avon, Procter and Gamble, Shiseido, Mary Kay and Revlon are observed to remain leading players in the global market for premium beauty & personal care products.
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About Fact.MR
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
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