Market Segmentation
Personal care products (PCPs) are commonly utilized for purposes of personal hygiene, grooming, cleaning, and enhancing one's appearance. This category encompasses a wide range of items, including hair & skincare products, UV protection creams, facial cleansers, insect repellents, fragrances, perfumes, soaps, detergents, shampoos, conditioners, and toothpaste. Consumers value skincare routines as a positive part of their daily rituals to maintain their personal hygiene as well as self-care. PCPs belong to the class of self-care items primarily employed for personal hygiene, cleanliness, and grooming. Globally, approximately 30-40% of dermatological prescriptions include a PCP, and an average person utilizes at least two PCPs within a span of 24 hours. A significant percentage of consumers follow multi-step routines, washing their face and applying moisturizer at least twice daily. The growing emphasis on facial cleansing is driving the global demand for cosmetic products.
A significant driving factor for the cosmetics market is the rising penetration of men's grooming products. This trend can be attributed to the increasing rejection of traditional gender distinctions among Generation Z consumers. This generation is embracing a more inclusive approach to personal care, leading to a rise in men's interest in skincare, haircare, beard care, and other grooming products as a way to practice self-care. There is a growing interest among market players to introduce DIY facial kits and grooming kits specifically tailored for men. Furthermore, subscription boxes from various brands and key players are anticipated to become increasingly popular among millennial men. The influence of social media on beauty standards has significantly shaped men's attitudes toward personal care, resulting in a surge in demand for cosmetic products.
Counterfeiting significantly threatens the global demand for cosmetic products. The issue of counterfeiting is especially severe in Asian countries like India and China, where it is common to find fraudulent skincare products, which lowers the reputation of genuine cosmetics brands. Consumers now find it difficult to distinguish between real and fake products due to the proliferation of smartphones and internet access, which has led to counterfeiters discovering new distribution methods, particularly through social media platforms. The prominence of independent online merchants has also made it easier to distribute fake products like skincare and color cosmetics products, negatively impacting the market growth. Consumers are drawn to counterfeit goods due to their affordability and ease of availability, which restrains the expansion of the original cosmetics brands.
This section will provide insights into the contents included in this cosmetics market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.
Industry overview
Industry trends
Market drivers and restraints
Market size
Growth prospects
Porter’s analysis
PESTEL analysis
Key market opportunities prioritized
Competitive landscape
Company overview
Financial performance
Product benchmarking
Latest strategic developments
Market size, estimates, and forecast from 2017 to 2030
Market estimates and forecast for product segments up to 2030
Regional market size and forecast for product segments up to 2030
Market estimates and forecast for application segments up to 2030
Regional market size and forecast for application segments up to 2030
Company financial performance