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Premium Cosmetics Global Market Report 2022
Major players in the premium cosmetics market are Avon Products Inc. , Chanel S. A. , Coty Inc. , KAO Corporation, L’Oréal S. A. , LVMH, Oriflame Cosmetics Global SA, Revlon Inc. , Shiseido Company Ltd. , The Estée Lauder Companies Inc.
New York, Oct. 03, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Premium Cosmetics Global Market Report 2022" - https://www.reportlinker.com/p06323470/?utm_source=GNW
, Elizabeth Arden Inc, Dior Beauty, The Procter & Gamble Company (P&G), Ralph Lauren Corporation, Unilever PLC, and Yves Rocher International.
The global premium cosmetics market is expected to grow from $105.09 billion in 2021 to $118.88 billion in 2022 at a compound annual growth rate (CAGR) of 13.1%. The premium cosmetics market is expected to reach $169.35 billion in 2026 at a CAGR of 9.3%.
The premium cosmetics market consists of sales of premium cosmetics by entities (manufacturers, dealers, sole traders, and partnerships) that are used to make cosmetic products with organic and high-quality components and are sold at a greater price than their drugstore counterparts.Premium cosmetics mainly cover skincare, makeup products, hair care, and fragrances.
Companies are replacing synthetic chemicals with natural components in response to consumer demand as well as a move toward more environmentally friendly raw materials.
The main types of premium cosmetics are skin care, hair care, fragrances and perfumes, sun care, baby care, and others.The skin care market consists of premium cosmetics that are used to protect the skin.
Skincare encompasses a variety of procedures that help to maintain the integrity of the skin, improve its appearance, and alleviate skin disorders.The majority of skincare patients are prescribed tretinoin, topical vitamin C, regular sun protection, and a variety of skin moisturizers.
Premium cosmetics include natural, organic, and conventional types of ingredients and are distributed through offline and online channels. These are used by males, females, and unisex.
Asia Pacific was the largest region in the premium cosmetics market in 2021.Asia Pacific is epected to be the fastest growing region in the forecast period.
The regions covered in the premium cosmetics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The premium cosmetics market research report is one of a series of new reports that provides premium cosmetics market statistics, including premium cosmetics industry global market size, regional shares, competitors with a premium cosmetics market share, detailed premium cosmetics market segments, market trends and opportunities, and any further data you may need to thrive in the premium cosmetics industry. This premium cosmetics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The rising demand for natural cosmetics is expected to propel the growth of the premium cosmetics market going forward.Natural cosmetics are products that are made entirely from natural ingredients and contain only trace amounts of synthetic ingredients such as petrochemicals and parabens.
As chemicals such as parabens, phthalates, and sodium lauryl sulfate are linked to health risks, people believe that natural compounds are safer for both human health and the environment. For example, according to IKW (Industrieverband Körperpflege-und Waschmittel), a Germany-based industry and trade association of manufacturers and distributors of cosmetic natural and organic cosmetics, in 2019, the sales of natural cosmetics in Germany stood at 1.38 billion euros (US $1.445 billion) across all sales channels. Therefore, the rising demand for natural cosmetics is driving the growth of the premium cosmetics market.
Product innovations have emerged as the key trend gaining popularity in the premium cosmetics market.Major companies operating in the premium cosmetics sector are focused on product innovations to gain a competitive advantage.
For instance, in May 2022, Proven Skincare, a US-based developer of skin care products, launched its first personalized eye cream duo, which includes Personalized Day Eye Cream and Personalized Night Eye Cream.A personalized product has been formed by combining Artificial Intelligence (AI) and big data.
The two formulations are custom-made to work for each individual’s skin type and lifestyle, as well as environmental conditions.
In October 2021, LMVH, a French-based manufacturer of luxury goods, acquired Officine Universelle Buly for an undisclosed amount.This acquisition enables LVMH to maintain its commitment to its distinctive expertise and personality while growing and developing within a prominent luxury company.
Universelle Buly is a France-based company that specializes in premium beauty products.
The countries covered in the premium cosmetics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06323470/?utm_source=GNW
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