Research report presented by UnivDatos, Emphasis on Product Category (Color Cosmetics (Face, Lips, Eyes, Nails), Skin Care (Face, Body, Sun Protection, Baby & Child), Personal Care (Hair Care, Oral Care, Deodorants, Shaving), Fragrances), Source (Organic, Inorganic), Product Class (Mass, Premium), Distribution Channel (Retail Stores, Hypermarkets, Pharmacies/Drug Stores, Online Retail Channels), and Geographical analysis (key regions and countries).
As per the research report, Global Beauty & Personal Care Market was valued at US$ 500.8 billion in 2019 and is anticipated to reach US$ 684.9 billion by 2026 displaying CAGR growth of 4.67% over the forecast period (2020-2026). Beauty and personal care items are used to care for, disinfect, and beautify the human body. The key aim of these drugs is to keep the body in good shape, shield it from the impact of the atmosphere and the ageing process, improve the look, and make it smell better. These products are used to cleanse, paint, condition, and secure the skin, hair, nails, lips, eyes, and teeth. The key factors driving the global beauty and personal care products industry are rapid ageing demographics, which has increased to a powerful interest in maturing items focused on the end goal of preventing wrinkles, dry skin, age marks, even hair damages, and poor skin tone, as well as recent advances in beautifying agents, which are the main factors driving the global beauty and personal care products market. Last year, the beauty and personal care industry hit a decade high, and growth is projected to continue unabated in the coming years, aided by new aspirational models such as self-optimization and personalised experiences. Furthermore, rising knowledge among men about beauty, fitness, and wellbeing is expected to propel the market forward. The global male grooming industry is expected to be worth $81.2 billion by 2024. During the last decade, there has been a significant change in male pampering society. Men are also spending money on deodorants, skin and hair care products, and bath and shower products, among other personal grooming items. In addition, the demand for natural and organic personal care (NOPC) products, the adoption of Augmented Reality (AR) in the excellence industry, rising demand for anti-aging devices, and rising popularity of men's prepping products are some of the key factors expected to drive the market over the forecast period.
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Insights Presented in the Report
“Personal care products dominated the beauty and personal care market in 2019, accounting for 43.5% share”
Color Cosmetics (Face care, Lip care, Eyecare, Nail care, and others), Skin Care (Face care, Body care, Sun Protection, Baby & Child products), Personal Care (Hair Care, Oral Care, Deodorants, Shaving Others (Showers & Bath)), and Fragrances make up the global beauty and personal care sector. These materials are designed to be applied to the external part of the human body with the aim of modifying the body's odours, changing its shape, or keeping it in good health.
“Demand for Inorganic beauty and personal care products dominated the market”
The global beauty and personal care industry are divided into organic and inorganic segments, according to the source. The inorganic commodity sector brought in US$ 364.3 billion in sales in 2019, but demand for organic beauty and personal care products is projected to rise at a CAGR of 5.38 percent over the forecast period (2020-2026). Because of the growing demand for natural and organic personal care (NOPC) products, the market is expected to expand at a healthy rate. There is a growing awareness of the benefits of organic cosmetics all over the world.
“Amongst product class, mass products dominated the market with 75.2% share in 2019”
The industry is divided into two categories based on commodity class: mass and luxury. The rise of the beauty and personal care industry reached its highest point in the last decade. Consumers are pleased with the products they now use and that are currently affordable, including their willingness to test new products.
“Hypermarkets was the most preferred sales channel for purchasing beauty and personal care products”
The market is divided into convenience shops, hypermarkets/supermarkets, pharmacies/drug stores, and online shopping outlets based on the delivery system. The Pharmacies/Drug Stores division brought in US$ 55.36 billion in sales in 2019. Online shopping outlets, on the other hand, are expected to rise at the fastest rate of 5.8% over the study period.
“Asia-Pacific was the largest market for beauty and personal care market, accounting for 34.9% share in 2019”
A quantitative study of the market dynamics of the beauty and personal care market was performed for various regions/countries around the world in order to get a deeper understanding of the market dynamics. North America (US, Canada, and the rest of North America), Europe (Germany, UK, France, Russia, and the rest of Europe), Asia-Pacific (China, Japan, India, Indonesia, Thailand, and the rest of Asia-Pacific), MENA (UAE, Saudi Arabia, and the rest of MENA), and the rest of the world (Argentina, Brazil and Other) are among the major regions/countries examined in the report. By 2026, the Asia-Pacific beauty and personal care industry is forecast to produce US$ 252.3 billion in sales.
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