According to the latest report by IMARC Group, titled “Luxury Cosmetics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the global luxury cosmetics market growth. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global luxury cosmetics market size reached US$ 50.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 67.6 Billion by 2028, exhibiting a growth rate (CAGR) of 4.9% during 2023-2028.
Luxury cosmetics are produced with organic and premium-quality ingredients available in sophisticated packaging at a higher price than drugstore products. These include makeup, haircare, skincare, and fragrances. They are environment-friendly and provide several benefits, including longevity, consistency, and high-end quality, with better ingredients that enhance the appearance without causing damage. As a result, luxury cosmetics are gaining traction among individuals across the globe to treat skin-related complications.
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Luxury Cosmetics Market Trends and Drivers:
The market is primarily driven by the rising demand for luxury cosmetics to solve hair skin-related concerns, including dandruff, hair fall, acne, and skin rashes. In addition, rapid urbanization, growing disposable incomes of individuals, especially in developing regions, and the increasing working women population are contributing to the market growth.
Moreover, the rising popularity of high-performing, natural, organic, fashionable, multi-colored, and luxury makeup products represents another major growth-inducing factor. Besides this, the expanding e-commerce sector and the easy availability of luxury cosmetics products through online and offline distribution channels are also providing a positive thrust to the market growth. Along with this, the market is also driven by the widespread adoption of halal cosmetics with proven vegan ingredients.
Furthermore, key players are investing in research and development (R&D) activities to launch anti-aging cosmetics, oral care products, and fragrances which is propelling the market growth. Other factors, including the growing upper-middle class population and the rising popularity of influencers on social media platforms promoting luxury cosmetics, are also creating a positive market outlook across the globe.
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Global Luxury Cosmetics Market 2023-2028 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Luxury Cosmetics Companies:
Avon Products Inc. (Natura & Co.), Coty Inc., Estée Lauder Companies Inc., Kao Corporation, Kosé Corporation, L’Oréal S.A., LVMH Moët Hennessy Louis Vuitton, Oriflame Cosmetics AG, Puig, Revlon Inc., Shiseido Company Limited and Tatcha LLC.
The report has segmented the market on the basis of region, based on product type, type, distribution channel and end user.
Breakup by Product Type:
Breakup by Type:
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Specialty and Monobrand Stores
- Online Stores
Breakup by End User:
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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