PUBLISHER: DataM Intelligence | PRODUCT CODE: 1285055
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1285055
Global Premium Cosmetics Market - 2023-2030
Market Overview
The global premium cosmetics market reached US$ 88,035.5 million in 2022 and is projected to witness lucrative growth by reaching up to US$ 161,620.4 million by 2030. The market is expected to exhibit a CAGR of 7.8% during the forecast period (2023-2030).
Premium cosmetics aim to provide pleasant and more efficient aesthetic experience than regular cosmetics. These goods are usually more expensive than mass-produced cosmetics and are intended for consumers who are willing to spend more money on their beauty routine. Premium cosmetics are distinguished by their premium packaging, excellent textures, and innovative formulas, and are usually available in high-end merchants, luxury boutiques, and online stores.
The growing number of anti-aging awareness initiatives, rising disposable income, and the aging population are the main factors driving the global premium cosmetics market growth. The demand for high-end cosmetics has also grown as consumers, regardless of young and elderly, flattering more aware of their physical appearance.
Market Dynamics
The Demand for Anti-Aging Products Is Significantly Increasing, Which Is Driving The Premium Cosmetics Market.
The demand for several cosmetic items has increased due to the expanding population, and in recent years, the cosmetics industry has become one of the most well-known. The increased consumer demand for products that swiftly lessen the signs of aging, including wrinkles, creases, blemishes, frown lines, and pigmentation has led to an increase in the need for anti-wrinkle treatments.
Additionally, the promotion strategies used by various manufacturers have made a significant impact on the per capita use and spending of skin care products worldwide. Premium cosmetics market trends have shown that the majority of the leading anti-wrinkle product manufacturers are now marketing their products as high-quality, organic, natural, secure, and incredibly powerful.
In addition, the 2020 National Commission on Population study estimates that by 2021, India would have 67 million men and 71 million women who are 65 years of age or older. Compared to the overall population, the elderly population is expanding more quickly, which in turn is driving the growth of the premium cosmetics market.
Market Expansion Is Hampered By High Prices Of Premium Cosmetics
The development of premium cosmetics with improved functionality and effectiveness of the products to enhance one's appearance using premium cosmetics has resulted in an increase in the price of premium cosmetics that made them expensive to the wider population. This could pose a threat to the market's ability to expand for premium cosmetics and could result in a decline in market growth rate and a decline in revenue share during the forecast period of 2023-2030.
COVID-19 Impact Analysis
The COVID-19 analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with pricing dynamics (including pricing change during and post-pandemic comparing it with pre-COVID scenarios), demand-supply spectrum (shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), government initiatives (initiatives to revive market, sector or industry by government bodies) and manufacturers strategic initiatives (what manufacturers did to mitigate the COVID issues will be covered here).
Segment Analysis
The global premium cosmetics market is segmented based on type, source, gender, application, distribution channel, and region.
Rising Demand For Skincare Premium Cosmetics Is Expected To Drive The Type Segment Growth.
The global premium cosmetics market has been segmented by type into skincare products, fragrances, color cosmetics, hair care products, sun care products, deodorants, baby care products, and others. The skincare segment held the largest premium cosmetics market share of approximately 38.4% in 2022 in the premium cosmetics market analysis report.
Additionally, the expansion of the global economy, changing lifestyles, rising demand for skin and sun care products due to various climatic conditions, and an increase in disposable income over the past decade all contribute to the growth of the cosmetics market. The cosmetics business is expanding as a result of a movement in consumer preference toward natural and organic skincare products, particularly in the United States and Europe.
Geographical Analysis
The Increasing Demand For Premium Cosmetics in Asia-Pacific Region.
The Asia-Pacific premium cosmetics market is regarded as the fastest growing region with a market share of approximately 32.5% in 2022 in the premium cosmetics market analysis. The APAC premium cosmetics market is expected to grow in the forecast years owing to the growing millennial population's interest in premium cosmetic products in Asian countries like China, India, Indonesia, and Vietnam.
The growing awareness of cosmetics items, such as facial makeup, hairstyling, and coloring products, is also anticipated to fuel market expansion throughout the projection period. Innovation is fueled by consumer demand for products with multiple applications, particularly those that offer skin protection and hydration to budget-conscious customers.
Competitive Landscape
The major global players in the market include: CHANEL, Coty, Estee Lauder, L'Oreal, LVMH, Shiseido Company, Limited, Kose Corporation, Kanebo Cosmetic, Kao Corporation, and Revlon, Inc.
Global Recession/Ukraine-Russia War/COVID-19, and Artificial Intelligence Impact Analysis:
COVID-19 Impact:
The premium cosmetics sector has suffered greatly as a result of the exceptional COVID-19 epidemic. The unexpected entrance of the deadly virus has had detrimental consequences on the cosmetics business, which in turn has hampered the expansion of the luxury product category.The industry has constructively reacted to the crisis by switching to making hand sanitizers and cleaning supplies as well as offering free beautification services to frontline response personnel.
The key players in the sector must maintain the financial side of the firm. Despite the fact that the COVID-19 pandemic will have a much greater financial impact on businesses than any recession, there are signs that the beauty sector may once again be comparatively healthy during the period of 2024-2025.
Global Recession Impact:
Over the past two years, prices have increased significantly because of the high inflation rates in developed economies around the world. It is anticipated that the aggregate purchasing power will considerably affect developing economies and is thought to be non-beneficial in many ways, including the lessened consumer buying of premium cosmetics.
Why Purchase the Report?
- To visualize the global premium cosmetics market segmentation based on type, source, gender, application, distribution channel, and region, as well as understand key commercial assets and players.
- Identify commercial opportunities in the market by analyzing trends and co-development.
- Excel data sheet with numerous data points of premium cosmetics market-level with all segments.
- The PDF report consists of cogently put-together market analysis after exhaustive qualitative interviews and an in-depth market study.
- Product mapping is available as Excel consists of key products of all the major market players.
The global premium cosmetics market report would provide approximately 93 tables, 109 figures and 190 Pages.
Target Audience 2023
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
Table of Contents
1. Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Objective and Scope of the Report
2. Market Definition and Overview
3. Executive Summary
- 3.1. Market Snippet, by Type
- 3.2. Market Snippet, by Source
- 3.3. Market Snippet, by Gender
- 3.4. Market Snippet, by Application
- 3.5. Market Snippet, by Distribution Channel
- 3.6. Market Snippet, by Region
4. Market Dynamics
- 4.1. Market Impacting Factors
- 4.1.1. Drivers
- 4.1.2. Restraints
- 4.1.3. Opportunity
- 4.1.4. Impact Analysis
5. Industry Analysis
- 5.1. Porter's Five Forces Analysis
- 5.2. Supply Chain Analysis
- 5.3. Pricing Analysis
- 5.4. Regulatory Analysis
6. COVID-19 Analysis
- 6.1. Analysis of COVID-19 on the Market
- 6.1.1. Scenario Before COVID-19 Market
- 6.1.2. Scenario During COVID-19 Market
- 6.1.3. Post COVID-19 or Future Scenario
- 6.2. Pricing Dynamics Amid COVID-19
- 6.3. Demand-Supply Spectrum
- 6.4. Government Initiatives Related to the Market During Pandemic
- 6.5. Manufacturers Strategic Initiatives
- 6.6. Conclusion
7. By Type
- 7.1. Introduction
- 7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 7.1.2. Market Attractiveness Index, By Type
- 7.2. Skin Care Products*
- 7.2.1. Introduction
- 7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 7.3. Fragrance
- 7.4. Color Cosmetics
- 7.5. Hair Care Products
- 7.6. Sun Care Products
- 7.7. Deodorants
- 7.8. Baby Care Products
- 7.9. Others
8. By Source
- 8.1. Introduction
- 8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Source
- 8.1.2. Market Attractiveness Index, By Source
- 8.2. Chemical*
- 8.2.1. Introduction
- 8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 8.3. Organic
9. By Gender
- 9.1. Introduction
- 9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Source
- 9.1.2. Market Attractiveness Index, By Source
- 9.2. Men*
- 9.2.1. Introduction
- 9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 9.3. Women
10. By Application
- 10.1. Introduction
- 10.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 10.1.2. Market Attractiveness Index, By Application
- 10.2. Individual*
- 10.2.1. Introduction
- 10.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 10.3. Commercial
11. By Distribution Channel
- 11.1. Introduction
- 11.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
- 11.1.2. Market Attractiveness Index, By Distribution Channel
- 11.2. Online*
- 11.2.1. Introduction
- 11.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 11.3. Offline
12. By Region
- 12.1. Introduction
- 12.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 12.1.2. Market Attractiveness Index, By Region
- 12.2. North America
- 12.2.1. Introduction
- 12.2.2. Key Region-Specific Dynamics
- 12.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 12.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Source
- 12.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Gender
- 12.2.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 12.2.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
- 12.2.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 12.2.8.1. The U.S.
- 12.2.8.2. Canada
- 12.2.8.3. Mexico
- 12.3. Europe
- 12.3.1. Introduction
- 12.3.2. Key Region-Specific Dynamics
- 12.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 12.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Source
- 12.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Gender
- 12.3.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 12.3.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
- 12.3.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 12.3.8.1. Germany
- 12.3.8.2. The U.K.
- 12.3.8.3. France
- 12.3.8.4. Italy
- 12.3.8.5. Spain
- 12.3.8.6. Rest of Europe
- 12.4. South America
- 12.4.1. Introduction
- 12.4.2. Key Region-Specific Dynamics
- 12.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 12.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Source
- 12.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Gender
- 12.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 12.4.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
- 12.4.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 12.4.8.1. Brazil
- 12.4.8.2. Argentina
- 12.4.8.3. Rest of South America
- 12.5. Asia-Pacific
- 12.5.1. Introduction
- 12.5.2. Key Region-Specific Dynamics
- 12.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 12.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Source
- 12.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Gender
- 12.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 12.5.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
- 12.5.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 12.5.8.1. China
- 12.5.8.2. India
- 12.5.8.3. Japan
- 12.5.8.4. Australia
- 12.5.8.5. Rest of Asia-Pacific
- 12.6. Middle East and Africa
- 12.6.1. Introduction
- 12.6.2. Key Region-Specific Dynamics
- 12.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 12.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Source
- 12.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Gender
- 12.6.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 12.6.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
13. Competitive Landscape
- 13.1. Competitive Scenario
- 13.2. Market Positioning/Share Analysis
- 13.3. Mergers and Acquisitions Analysis
14. Company Profiles
- 14.1. CHANEL
- 14.1.1. Company Overview
- 14.1.2. Product Portfolio and Description
- 14.1.3. Financial Overview
- 14.1.4. Key Developments
- 14.2. Coty
- 14.3. Estee Lauder
- 14.4. L'Oreal
- 14.5. LVMH
- 14.6. Shiseido Company, Limited
- 14.7. Kose Corporation
- 14.8. Kanebo Cosmetic
- 14.9. Kao Corporation
- 14.10. Revlon, Inc.
LIST NOT EXHAUSTIVE
15. Appendix
- 15.1. About Us and Services
- 15.2. Contact Us
