According to a study of Maximize Market Research, The Global Beauty and Personal Care Products Market is estimated to reach USD 716.6 billion by 2027, growing at a 5.9% percent CAGR over the forecast period. The global beauty and personal care market is being fueled by an aging population and rising per capita beauty and personal care spending. The beauty care market is powerful and active, with great growth potential in consumption. The growth of the upper-middle classes, and the growing number of elderly persons on the search for solutions that fulfill their diversified objectives and a never-ending desire for beauty, all contribute to this potential. Product type, distribution channel, company, and geography are all used to segment the global beauty and personal care market. Personal care dominates the beauty and personal care market in terms of product category. Beauty care, on the other hand, has been steadily increasing throughout time.
Global Beauty and Personal Care Products Market Scope and Dynamics:
The average public’s rising understanding of the importance of maintaining younger-looking skin and a respectable appearance and sustaining physical beauty is a primary motivation that is boosting the global beauty & personal care products market. The desire to appear attractive and battle the effects of aging, including wrinkles, which are especially visible in the elderly. As an outcome, the segment’s growth will be assisted by the segment’s increasing population. Over the projection period, however, rising raw material and packaging prices are likely to impede the market’s growth. Skin Care & Sun Care, Makeup & Color Cosmetic Products, Hair Care, Deodorants & Fragrances, and Others are all part of the Global Beauty and Personal Care Products market. E- Commerce, Direct Selling, Hypermarkets & Retail Chains, Specialty Stores, and Others are the many types of distribution channels.
The Impact of COVID-19 on the Global Beauty and Personal Care Products Market:
The disruption of distribution networks, particularly for cosmetics, was a major challenge for businesses during the COVID-19 scenario when countries blocked their borders or raised trade restrictions. As a result, producers and exporters were up against the stiff competition when it came to selling their wares. Furthermore, due to the ensuing lockdowns and the closure of retail outlets, on-premise sales through supermarkets and convenience stores have decreased, as people have been exercising social distance and avoiding gatherings and outings. Sales through online retail channels, on the other hand, were a key contributor to market penetration.
Global Beauty and Personal Care Products Market Insights:
Due to higher disposable income, foreign direct investments, growing population, and growing internet penetration, Asia-Pacific is the dominant market, followed by North America and Europe. In terms of income and usage, China is the second-largest market for beauty and personal care behind the United States. Companies are always engaged in mergers and acquisitions and product launches to stay competitive in the market. The report’s goal is to provide a complete overview of the Global Beauty and Personal Care Products market, taking into account all industry stakeholders. The research involves an examination of complicated data in simple language, as well as the industry in terms of the historical and contemporary state, along with anticipated market size and trends.
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Global Beauty and Personal Care Products Market Segmentation:
Skin Care & Sun Care
Makeup & Color Cosmetic Products
Deodorants & Fragrances
By Distribution Channel
Hypermarkets & Retail Chains
Middle East & Africa
Key Players in Global Beauty and Personal Care Products Market:
The Estée Lauder Companies
L’occitane International S.A
Procter & Gamble
Sally Beauty Holdings Inc
LVMH Moet Hennessy Louis Vuitton SA
L’occitane International S.A
Shiseido Company, Limited;
Church & Dwight Co. Inc.
Henkel AG & Co. KGaA
Johnson & Johnson
Koninklijke Philips NV
To Get a Detailed Report Summary And Research Scope of The Global Beauty and Personal Care Products Market, Click here @ https://www.maximizemarketresearch.com/market-report/global-beauty-and-personal-care-products-market/17955/
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