Cosmetics Market to Benefit from the Emphasis on the Use of Skin-friendly Cosmetics Across the World
The global cosmeticsmarket size is projected to reach USD 438.38 billion by the end of 2026.The increasing demand for clean-labelled products will bode well for the marketin the coming years. According to a report published by Fortune Business Insights,titled “Cosmetics Market Size, Share & Industry Analysis, By Category (HairCare, Skin Care, Makeup, and Others), By Gender (Men and Women), ByDistribution Channel (Specialty Stores, Hypermarkets/Supermarkets, OnlineChannels, and Others), and Regional Forecast, 2019-2026,” the market was worthUSD 297.61 billion in 2018 and will exhibit a CAGR of 5.1% during the forecastperiod.
Cosmetics are products that are usedto enhance the aesthetics and visual appearance of the body. The emphasis onthe use of skin friendly products has come as a welcome opportunity to standoutin the fragmented cosmetics market. The massive global demand for cosmetics hasshaped up the structure of the market. The presence of several large scalecompanies and the subsequently rising investments in the R&D ofskin-friendly cosmetics will bode well for the market in the coming years.Moreover, variations in product offerings have played a huge role in the growthof the market in recent years. The adoption of healthy and visually appealinglifestyle will lead to a wider adoption of cosmetics and subsequently aid thegrowth of the market.
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IncreasingNumber of Company Mergers and Acquisitions Will Aid Growth
The report includes several factorsthat have made an impact on the growth of the market in recent years. Ithighlights a few of the major industry developments of recent times and furtherdiscusses how these developments have influenced market growth. Among allfactors, the increasing number of company mergers and acquisitions has made ahuge impact. In September 2017, Unilever announced that it plans to acquireCarver Korea. The company possesses an attractive range of skin care productsand is based in South Korea. Unilever’s acquisition of Carver will bode wellfor the global market in the foreseeable future.
NorthAmerica Currently Fast Growing Market; Increasing Investment in Product R&DWill Aid Growth
The report analyzes the ongoingcosmetics market trends across North America, South America, Asia Pacific, theMiddle East and Africa, and Europe. Among these regions, North America willwitness the highest growth in the coming years. The massive investments bylarge scale companies towards the development of organic products will aid thegrowth of the regional market. As of 2018, the market in North America wasworth USD 82.59 billion and this value is projected to increase further in thecoming years. The market in Asia Pacific will also witness considerable growthin the coming years, owing to the high population and the subsequently highdemand for cosmetics and cosmetic products in several countries across thisregion.
A few of the leading companies thatare currently operating in the market include:
• L’OréalProfessional
• Unilever
• Procter& Gamble
• EstéeLauder Inc.
• BeiersdorfAG
• ShiseidoCo., Ltd.
• CotyInc.
• Natura& Co.
• KaoCorporation
• Johnson& Johnson Services, Inc.
