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The willingness to spend on exclusive, superior quality goods has been becoming more popular with the global consumers. This “Premiumisation” is exclusively driving the demand for beauty and personal care products globally.
These premium products are products that are priced higher than the rest and intended to be more effective and safe. The intended benefits of these products can be on the account of more natural or organically-sourced ingredients, green production techniques, better packaging and many more.
This market is thriving and is one of the fastest growing consumer markets. The main factor owing to this strong growth is the generational shift with young consumers entering the market. As such, the global premium and personal care products market is expected to grow at a consistent rate during the decade.
The growth of this market is attributed towards major pertaining factors including the growing global population, growing affordability of consumers along with rising disposable incomes, increasing health & wellness awareness, more convenient access, rapid urbanization, changing lifestyles along with increasing desire to look good, growth in the FMCG sector, rising demand for premium products, companies engagement in the development of premium products, high penetration of smart phones and easy access to the internet etc.
Additionally, the global premium beauty & personal care products market is thriving on the back of the global fast-moving consumer goods industry. As the FMCG is one of the largest sectors in the world economy and generating billions of revenues every year, these products such as personal & healthcare products and others are witnessing assuring demand through the globe.
Moreover, E-commerce is emerging as a highly attractive channel for exploring new demographics for players in the premium beauty and personal care products market and also there is increase in investment of brands in training professionals who offer proper guidance and have knowledge of multiple products which combined with other factors propel the growth of this market.
Furthermore, the increasing female working population, rising middle-class population, increasing millennials, increasing focus on environmental sustainability, strong e-commerce growth, shift towards organic products is further anticipated to massively contribute in the scaling of this market..
However, one of the worst affected markets of the COVID-19 pandemic in 2020 is likely to be the premium beauty and personal care products market. With this, high unit prices, drastic reduction on spending on non-essential premium or luxury items, high competition, stringent regulations, testing and ingredient requirements are factors that refrain this market’s growth.
PREMIUM BEAUTY & PERSONAL CARE PRODUCTS MARKET SEGMENTATION:
By Product Type:
The fastest-growing regional market is Asia-Pacific due to the growing consciousness of people towards personal appearance in countries, such as China and Japan that have a major impact on the growth of the market.
The U.S. and UK are highly established premium markets that contribute to significant shares in this market globally owing to consistent rise in premium brands along with the large customer bases in the U.S.
Also, developing countries have emerged as one of the most attractive investment destinations in the world due to increasing spending, rapid industrialization, and tremendous shifts in the shopping behavior.
FEW KEY PLAYERS IN PREMIUM BEAUTY & PERSONAL CARE PRODUCTS MARKET:
Timeline Considered for Analysis:
- 2019: Base Year
- 2020: Estimated Year
- 2020 to 2025: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyses the global premium beauty and personal care products market by the following segments:
- Product Type
Customization: We also offer customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Premium Beauty and Personal Care Products Industry Report
The report offers a comprehensive insight on the Premium Beauty & Personal Care Products Market share, competitor landscape, market trends, growth, revenue, and key driver’s analysis with coverage of key players, top geographies, product types and end user.
Exhaustive secondary research and in-depth primary interviews with industry experts has been conducted to present qualitative and quantitative insights in the report.
We offer customizations as per client’s specific needs.