Driven primarily by the high demand for anti-aging and men’s grooming products, the global beauty & personal care products market is expected to register a CAGR of 2.81% over the forecast period of 2018-2026. The expanding e-commerce channels are also predicted to boost the market sales.
The global beauty and personal care products market is segmented according to the product category and distribution channels. The product category of this market covers areas like hair care, skin care, colour cosmetics, bath & shower, men’s grooming, baby & child-specific products, deodorants, fragrances, sun care, oral care and other products. The distribution channels for this market include direct selling, e-commerce, hypermarkets & retail chains, pharmacies, salons, speciality stores, and others channels.
Region-wise, the global beauty and personal care market is categorized into North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa. Latin America is expected to register the fastest growth rate over the forecast period. The market is being propelled by growing penetration of cosmetic products and brands and increasing disposable income. However, it was the APAC market that accounted for the highest revenue share in 2017. Factors like a high elderly population and growing number of women entering the workplace are considerably aiding the market growth.
Major players like Avon, Coty Inc, Beiersdorf AG, Kao Corporation, L’occitane International S.A, L’oreal Group, LVMH Moet Hennessy Louis Vuitton Sa, Procter And Gamble, Mary Kay, Revlon, Shiseido, Sally Beauty Holdings, Inc, Unilever and The Est?e Lauder Companies Inc are engaged in the global beauty and personal care products market.