Premium cosmetics market to grow by 8.22% Y-O-Y in 2023: Increased demand for premium skincare products will drive growth

NEW YORK, Jan. 9, 2023 /PRNewswire/ — Premium cosmetics market insights –

• Vendors: 15+, including Amway Corp., Avon Products, Beiersdorf AG, CHANEL Ltd, Coty Inc, Groupe Clarins, Henkel AG and Co. KGaA, Honasa Consumer Pvt. Ltd., Johnson and Johnson, Kao Corp., Laboratoires Expanscience, LOreal SA, LVMH Moet Hennessy Louis Vuitton SE, Natura and Co Holding SA, NUDE Beauty Brands, Revlon Consumer Product Corp., Shiseido Co. Ltd., The Estee Lauder Co Inc, The Procter and Gamble Co, Unilever PLC, among others

• Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors;

• Segments: Product, Distribution Channel, and Geography

To understand more about the premium cosmetics market, request a sample report

In 2017, the premium cosmetics market was valued at USD 75,452.32 million. From a regional perspective, APAC held the largest market share, valued at USD 24,771.00 million. The premium cosmetics market size is estimated to grow. by USD 55,503.21 million from 2022 to 2027 at a CAGR of 8.9% According to Technavio.

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Premium cosmetics market – Customer Landscape

To help companies evaluate and develop growth strategies, the report outlines –

• Key purchase criteria

• Adoption rates

• Adoption lifecycle

• Drivers of price sensitivity

• For highlights on customer landscape analysis, download a sample!

Premium cosmetics market – Vendor Insights

The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market’s competitive landscape and offers information on several including market vendors –

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• Amway Corp. – The company offers a complete range of Premium Cosmetics products.

• Beiersdorf AG – The company offers a full portfolio of skincare and premium cosmetics products.

• Henkel AG and Co. KGaA – The company offers a complete range of premium cosmetics products in their beauty and care segment.

• Shiseido Co. Ltd. – The company offers products such as eye care, lip care, moisturizer, sunscreens, sets and travel, men grooming products, and makeup.

Premium cosmetics market – Market Dynamics

Major Drivers –

• Increased demand for premium skincare products

• Rise in sales of premium cosmetics through e-commerce

• Innovation and portfolio extension leading to product premiumization

KEY challenges –

• Lack of consumer reach and premium brand penetration in major parts of developing regions

• Availability of counterfeit brands

• Stringent regulations in product formulations, labeling, and packaging for skincare, sun care, and baby care products

Drivers & Challenges have an impact on market dynamics and can impact businesses. Find some insights from a sample report!

The premium cosmetics market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects.

What are the key data covered in this premium cosmetics market report?

• CAGR of the market during the forecast period

• Detailed information on factors that will drive the growth of the premium cosmetics market between 2023 and 2027

• Precise estimation of the size of the premium cosmetics market size and its contribution to the market in focus on the parent market

• Accurate predictions about upcoming trends and changes in consumer behavior

• Growth of the premium cosmetics market industry across APAC, Europe, North America, South Americaand Middle East and Africa

• A thorough analysis of the market’s competitive landscape and detailed information about vendors

• Comprehensive analysis of factors that will challenge the growth of premium cosmetics market vendors

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• The vegan cosmetics market is estimated to grow at a CAGR of 6.5% between 2022 and 2027. The size of the market is forecast to increase by USD 5,872.81 millionThe promotional and marketing strategies employed by cruelty-free cosmetics vendors are notably driving the market growth, although factors such as stringent guidelines for obtaining vegan or cruelty-free certification may impede the market growth.

• The beauty and personal care products market is estimated to grow at a CAGR of 5.06% between 2022 and 2027. The size of the market is forecast to increase by USD 57.45 billionThe growing popularity of anti-pollution skincare products is notably driving the market growth, although factors such as adverse health effects of chemical/synthetic ingredients may impede the market growth.

Table of contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Product

7 Market Segmentation by Distribution Channel

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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SOURCE Technavio