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Beauty and Personal Care Market
A recent study by Triton Market Research titled ‘Global Beauty and Personal Care Market,’ includes Global Analysis and Forecast by Sales Channel (Pharmacies & Drugstores, Hypermarkets & Supermarkets, E-Commerce, Beauty Specialist Stores, Other Sales Channels), by Type ( Hair Care, Baby and Child-specific Products, Fragrances, Skincare, Men’s Grooming, Color Cosmetics, Bath and Shower Products, Sun Care, Oral Care, Other Types), and Regional Outlook (Europe, North America, Middle East and Africa, Asia -Pacific, Latin America).
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Triton’s market research report implies that the global beauty and personal care market would accelerate at a CAGR of 3.20% during the forecast period from 2022 to 2028, gaining $701.11 billion in revenue by 2028.
With the cases of tooth decay, gingivitis, plaque buildup, and other dental diseases on the rise, oral health has become one of the major public health issues. Thus, using oral healthcare products, such as toothbrushes, toothpastes, mouthwashes, dental floss, etc., that help consumers maintain oral health, is a necessity.
Due to the rise in the awareness of oral hygiene and the growth of the organized retail sector, oral care products are witnessing a steep demand. Furthermore, with the increase in consumers’ standards of living and high disposable incomes, several premium products in this segment , such as electric toothbrushes, are being launched in the market. The growing demand for oral healthcare products is expected to foster the studied market’s growth.
However, using chemical-based beauty and personal care products causes certain side effects. For instance, some anti-aging creams contain ingredients that are harmful to the skin, leading to various side effects, such as skin irritation, burning, rashes, redness, premature aging, etc.
Further, chemicals present in deodorant sprays can cause contact dermatitis, which can lead to skin rashes, irritation, and pain. Thus, the inclusion of certain compounds in beauty and personal care products, which have harmful effects, can hinder the market growth process.
The beauty and personal care market is divided according to sales channel and type. The sales channel segment is further sectioned into pharmacies & drugstores, hypermarkets & supermarkets, e-commerce, beauty specialist stores, and other sales channels. Whereas, the type segment is further classified into hair care, baby and child-specific products, fragrances, skincare, men’s grooming, color cosmetics, bath and shower products, sun care, oral care, and other types.
The market in the Middle East and Africa is expected to grow the fastest in the world, during the forecasted period. An attractive appearance is seen as a sign of status by people in this region, and visiting salons is considered a necessity rather than a luxury by many.
Further, Westernization has also influenced some areas of beauty and personal care, with consumers becoming increasingly likely to select products and brands in accordance with Western fashion trends and advertising.
In the United Arab Emirates, though several multinationals such as Procter & Gamble and Unilever account for a leading market share, the emergence of several local brands, such as The Camel Soap Factory, is also being witnessed.
The leading companies in the beauty and personal care market include Kao Corp, Procter & Gamble Co, Beiersdorf AG, Henkel AG & Co KGaA, Puig SL, Colgate-Palmolive Co, Amorepacific Corp, Estée Lauder Cos, Natura & Co, Johnson & Johnson Inc, Shiseido Co Ltd, LVMH Moët Hennessy Louis Vuitton SA, Unilever Group, Coty Inc, Arabian Oud Co, and L’oréal Groupe.
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Question & Answer: Beauty and Personal Care Market
Question 1: What factor is expected to foster the growth of the beauty and personal care market?
Answer: With the cases of tooth decay, gingivitis, plaque buildup, and other dental plaque diseases on the rise, oral health has become one of the major public health issues. Thus, using oral healthcare products, such as toothbrushes, toothpastes, mouthwashes, dental floss, etc., that help consumers maintain oral health, is a necessity.
Due to the rise in the awareness of oral hygiene and the growth of the organized retail sector, oral care products are witnessing a steep demand. Furthermore, with the increase in consumers’ standards of living and high disposable incomes, several premium products in this segment , such as electric toothbrushes, are being launched in the market. The growing demand for oral healthcare products is expected to foster the studied market’s growth.
Question 2: Which factors can hinder the beauty and personal care market’s growth?
Answer: Using chemical-based beauty and personal care products causes certain side effects. For instance, some anti-aging creams contain ingredients that are harmful to the skin, leading to various side effects, such as skin irritation, burning, rashes, redness, premature aging, etc.
Further, chemicals present in deodorant sprays can cause contact dermatitis, which can lead to skin rashes, irritation, and pain. Thus, the inclusion of certain compounds in beauty and personal care products, which have harmful effects, can hinder the market growth process.
Question 3: Which is the fastest-growing region in the studied market?
Answer: The market in the Middle East and Africa is expected to grow the fastest in the world, during the forecasted period. An attractive appearance is seen as a sign of status by people in this region, and visiting salons is considered a necessity rather than a luxury by many.
Further, Westernization has also influenced some areas of beauty and personal care, with consumers becoming increasingly likely to select products and brands in accordance with Western fashion trends and advertising.
In the United Arab Emirates, though several multinationals such as Procter & Gamble and Unilever account for a leading market share, the emergence of several local brands, such as The Camel Soap Factory, is also being witnessed.
Question 4: Which are the leading companies operating in the beauty and personal care market?
Answer: Some leading companies in the beauty and personal care market include Kao Corp, Procter & Gamble Co, Beiersdorf AG, Henkel AG & Co KGaA, Puig SL, Colgate-Palmolive Co, Amorepacific Corp, Estée Lauder Cos, Natura & Co, Johnson & Johnson Inc, Shiseido Co Ltd, LVMH Moët Hennessy Louis Vuitton SA, Unilever Group, Coty Inc, Arabian Oud Co, and L’oréal Groupe.
Related Report:
Global Cosmetic Bioactive Ingredients Market – https://www.tritonmarketresearch.com/reports/cosmetic-bioactive-ingredients-market
The global market for cosmetic bioactive ingredients is anticipated to progress at a CAGR of 5.84% in the forecast duration from 2022 to 2028, earning a net revenue of $2230.73 million by 2028.
The beauty industry is expanding worldwide, particularly in the personal care segment. However, the vast majority of conventional skincare cosmetic formulations contain potentially harmful and non-biodegradable mineral oil- or petroleum-derived ingredients.
Thus, keeping in line with the ongoing trends, chemical-containing products are being phased out in favor of bioactive ingredient-containing products. This is a prime factor supporting the cosmetic bioactive ingredients market’s growth.
Moreover, in recent years, men have also developed an interest in using grooming and personal care products. As a result, several products designed specifically for men have been launched in the market. Trends such as this also significantly contribute to market growth.
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This release was published on openPR.
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