Beauty and Personal Care Products Market Report

Beauty and Personal Care Products Market Analysis Report By Product (Makeup & Cosmetics, Skin Care, Hair Care), By Distribution Channel, By Type (Vegan, Organic, Inorganic), And Segment Forecasts, 2018 - 2025

  • Published Date: Sep, 2018
  • Base Year for Estimate: 2017
  • Report ID: GVR-2-68038-563-2
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2016
  • Number of Pages: 100

Industry Insights

The global beauty and personal care products market size was valued at USD 455.3 billion in 2017. It is anticipated to register a CAGR of 5.9% during the forecast period. The market is anticipated to tread along a healthy growth track owing to rising preference for natural and organic personal care (NOPC) products, increasing adoption of Augmented Reality (AR) in the beauty industry, growing demand for anti-aging products, and burgeoning popularity of men’s grooming products.

This market is poised to witness significant growth over the forecast period owing to several factors. One of the prominent factors is the growing preference for NOPC products since consumers now prefer products that contain natural ingredients.

North America beauty and personal care products market

Rising adoption and implementation of AR in the beauty industry is also expected to contribute to market growth over the forecast period. AR enables real-time analysis and tracking of facial features using photographs and videos uploaded by consumers on online platforms such as mobile apps and AR devices at cosmetics stores. There are also fully - customized AR modules available for Android, iOS, and Windows devices. AR helps consumers to virtually use a  product and see how it looks on them before its purchase. Thus, the growing use of AR is estimated to boost the growth of the market over the forecast period.

Additionally, the increasing popularity of men’s grooming products is likely to drive the market owing to growing awareness among men regarding appearance, health, and wellness. Men have now started spending on a wide range of personal grooming products, such as deodorants, skin and hair care products, and bath and shower products.

Furthermore, the demand for anti-aging products is rising owing to the increasing aging population and growing awareness about the benefits of using anti-aging products. The skin care/sun care segment experienced a moderate growth rate from 2012 to 2017 on account of rising demand for anti-aging products.

Product Insights

Based on product, the market has been segmented into skin care/sun care, hair care, makeup & color cosmetic products, deodorants/fragrances, and others. The skin care/sun care segment represented one-third of the overall revenue in 2017. The segment is projected to dominate the market throughout the forecast horizon.

The major factor driving the growth of the segment is raising awareness about the importance of maintaining youthful skin and a good appearance. Need to appear young and overcome the effects of aging such as wrinkles and sagging skin is especially felt by older people. Thus, their growing population will supplement the growth of the segment.

The skincare/sun care segment is expected to witness substantial growth over the forecast period. The maximum demand for these products is anticipated to be generated from the Asia Pacific owing to its large population.

Distribution Channel Insights

Based on the distribution channel, the market has been segmented into direct selling, hypermarkets & retail chains, E-Commerce, specialty stores, and others. The E-Commerce segment is poised to witness significant growth over the forecast period owing to growing internet penetration. Developing regions, including the Asia Pacific, are likely to highly benefit from booming E-Commerce, thanks to rapid urbanization.

Though E-Commerce has gained significance to a large extent in the retail business, it accounts for a small percentage of total retail sales across the world. This can be attributed to consumers’ need to try the products before purchasing them, which leads to a higher demand for hypermarkets or retail chains. Countries such as India, China, and other Southeast Asian countries are exhibiting robust industrial development and extensive urbanization. The rise in penetration of the internet and the Internet of Things is expected to assist the growth of the beauty and personal care products market.

Type Insights

Based on type, the market has been categorized into vegan, organic, and inorganic. There is a growing awareness regarding the benefits of vegan cosmetics across the world. Animal activism is also on the rise, thus dissuading people from using products derived from or tested on animals. These factors are anticipated to contribute to the growth of the vegan cosmetics segment over the forecast period.

Beauty and personal care products market

The growing incidence of the use of harmful chemicals in beauty and personal care products is leading to an upswing in the demand for organic and vegan products. Soaring the need for natural and safer ingredients across the globe is estimated to help the organic and vegan segments to register significant growth during the forecast period.

Regional Insights

The Asia Pacific dominated the market in terms of revenue in 2017. The regional market was valued at USD 157.1 billion in 2017. Increasing population, spiraling demand for organic and vegan products, and growing penetration of AR in the beauty industry are positively influencing the market in the region.

The Asia Pacific regional market is projected to witness a significant gain in revenue share over the forecast period on account flourishing E-Commerce industry and rising disposable income of the populace. Additionally, consumer buying patterns indicate a shift from the use of inorganic cosmetics to organic and further to vegan cosmetics in most of the countries in this region.

Beauty and Personal Care Products Market Share Insights

Some of the key players in this market are Avon Products, Inc.; Beiersdorf AG; Coty Inc.; Kao Corporation; L’occitane International S.A.; L’Oréal Group; Procter & Gamble; and Mary Kay Inc.

Market participants are focusing on strategies such as partnerships and mergers & acquisitions to consolidate their product portfolio and their position in the market. For instance, in March 2017, L’Oréal Group acquired CeraVe, AcneFree, and Ambi skincare brands from Valeant. The above-mentioned brands focus on products for dry skin, dark spots, acne, and skin brightening. The combined annual revenue of the three brand accounts is approximately USD 168 million every year.

Report Scope

Attribute

Details

The base year for estimation

2017

Actual estimates/Historical data

2014 - 2016

Forecast period

2018 - 2025

Market representation

Revenue in USD Billion and CAGR from 2018 to 2025

Regional scope

North America, Europe, Asia Pacific, South America, and MEA

Country scope

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, Japan, India, Brazil, Colombia, South Africa, and Saudi Arabia

Report coverage

Revenue forecasts, market share, competitive landscape, growth factors, and trends

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Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2025. For this study, Grand View Research has segmented the global beauty and personal care products market report based on the product, distribution channel, type, and region:

  • Product Outlook (Revenue, USD Billion, 2014 - 2025)

    • Skin Care/Sun Care

    • Hair Care

    • Makeup & Color Cosmetic Products

    • Deodorants/Fragrances

    • Others

  • Distribution Channel Outlook (Revenue, USD Billion, 2014 - 2025)

    • Direct Selling

    • Hypermarkets & Retail Chains

    • E-Commerce

    • Specialty Stores

    • Others

  • Type Outlook (Revenue, USD Billion, 2014 - 2025)

    • Vegan

    • Organic

    • Inorganic

  • Regional Outlook (Revenue, USD Billion, 2014 - 2025)

    • North America

      • The U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

      • Spain

    • Asia Pacific

      • China

      • Japan

      • India

    • South America

      • Brazil

      • Colombia

    • Middle East & Africa (MEA)

      • South Africa

      • Saudi Arabia

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