DUBLIN, June 23, 2021 /PRNewswire/ — The “Global Beauty and Personal Care Market, By Product Type (Personal Care, Beauty Care), By Distribution Channel (Departmental Stores/Grocery Retails, Specialty Store, E-Commerce, Pharmacies & Others) By Region, Competition, Forecast and Opportunities, 2026” report has been added to ResearchAndMarkets.com’s offering.
The Global Beauty and Personal Care Market was valued at USD422.72 billion in 2020 and is expected to reach USD558.12 billion, growing with the CAGR of 4.82% by 2026.
The Global Beauty and Personal Care Market is driven by ageing population and increasing per capita expenditure on beauty and personal care. Beauty care market is powerful and dynamic driven by strong consumption growth potential. This potential is supported by the rise of middle- and upper-income classes, as well as by the growing number of senior citizens on the lookout for products that meet their diverse aspirations and their infinite quest for beauty.
The Global Beauty and Personal Care Market is segmented on the basis of product type, distribution channel, company, and region. In terms of product type, personal care is dominating the beauty and personal care market. However, beauty care is witnessing steady growth over time. Beauty care contributes to the consumers’ well-being as well as self-esteem.
Makeup and color cosmetic is dominating the beauty care market with 60% market share due to increasing female working population and growing fashion trends and the popularity of social media channels like youtube, facebook and instagram. Nail care is spotted to be the fastest growing due to rising fashion trends among women, and financial affordability of women.
Asia-Pacific is the leading market followed by North America and Europe due to rising disposable income, foreign direct investments, growing population and increasing internet penetration. China is the second largest market for beauty and personal care after the United States in terms of revenue and consumption. To remain competitive in the market, companies are continuously engaged in mergers & acquisitions and product launches.
For instance, Beiersdorf AG, on August 30th, 2019, successfully completed the acquisition of the iconic sun care brand, Coppertone. Coppertone’s global operations will be transferred from Bayer to Beiersdorf, for a purchase price of USD550 million.
The company has entered the world’s largest sun care market and is strengthening its presence in North America. Coppertone has become the fifth brand in Beiersdorf’s skin care portfolio in North America, beside NIVEA, Eucerin, Aquaphor, and La Prairie as skin care is at the heart of Beiersdorf AG and caring for skin health through sun protection has been an essential pillar of their business for over 60 years.
The major players operating in the Global Beauty and Personal Care Market are L’Oreal S.A., Hindustan Unilever Limited, The Procter and Gamble Corporation, The Estee Lauder Companies Inc., Shiseido Company Limited and Others.
Major brands like L’Oreal are trying to discover, test and develop new beauty brands with rapid use of new powerful technologies such as virtual reality, augmented reality and artificial intelligence, that will totally change in the coming years towards an even greater level of service, customization and personalization.
Years considered for this report:
Historical Years: 2016-2020
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Key Target Audience:
Beauty and personal care manufacturers, suppliers, distributors and other stakeholders
Government bodies such as regulating authorities and policy makers
Market research and consulting firms
Organizations, forums and alliances related to beauty and personal care
Global Beauty and Personal Care Market, By Product Type:
Makeup and Color Cosmetics
Beauty tools and Accessories
Others (Manicure, Pedicure, etc.)
Global Beauty and Personal Care Market, By Distribution Channel:
Departmental Stores / Grocery Retails
Others (Institutional Stores, Experts Store, Salon, etc.)
Global Beauty and Personal Care Market, By Company:
The Estee Lauder Companies Inc.
The Procter and Gamble Corporation
Shiseido Company Limited
Global Beauty and Personal Care Market, By Region:
Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/qk4dmm
Research and Markets
Laura Wood, Senior Manager
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