The Cosmetic Products Market is being driven by Rise in aging population
The Cosmetic Products Market is expected to grow at a CAGR of 5.8% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 126.4 billion. The cosmetics industry is witnessing a significant shift in consumer preferences towards organic and chemical-free products. These offerings, often referred to as cosmeceuticals, provide the added benefit of containing biologically active compounds that offer medicinal effects on the skin, while being devoid of harsh, toxic chemicals. Parabens and phthalates, commonly used in chemical-based cosmetics, have been linked to health concerns such as cancer and Type II diabetes. In response, manufacturers are increasingly incorporating natural raw materials, including neem extracts, soybean, fish oil, aloe vera, and guar gum, into the production of organic skincare products. This trend underscores the growing demand for safer, more effective, and health-conscious cosmetics.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
|
Report Coverage |
Details |
Page number |
206 |
Base year |
2024 |
Historic period |
2019-2023 |
Forecast period |
2025-2029 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.8% |
Market growth 2025-2029 |
USD 126.4 billion |
Market structure |
fragmentation |
YoY growth 2024-2025(%) |
5.4 |
Key countries |
US, Canada, Germany, UK, Italy, France, China, India, Japan, Brazil, Egypt, UAE, Oman, Argentina, KSA, UAE, Brazil, Rest of World (ROW), US, China, South Korea, India, Japan, Australia, Germany, Canada, UK, Brazil, and USA |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The Cosmetic Products Market is driven by various trends and factors including 'Clean Beauty Standards' and 'Ingredient Transparency'. Ethical sourcing and 'Sustainable Packaging' are also key considerations. 'Biodegradable Ingredients' and 'Clinical Efficacy' remain important for consumers. Product innovation continues to be a focus with 'Personalized Beauty' and 'Skin Analysis' gaining popularity. AI-powered skincare, 'Virtual Try-On', and 'Skincare Subscription Services' are disrupting traditional 'Skincare Routines'. Beauty trends are influenced by 'Beauty Influencers' and 'Beauty Bloggers' in the 'Beauty Community'. Social media platforms fuel 'Beauty Content' and 'Beauty Education'. 'Beauty Tips' and 'Beauty Hacks' are shared through 'Beauty Tutorials' and 'Beauty Advice'. 'Beauty Services' such as 'Facial Treatments', 'Spa Treatments', and 'Salon Services' continue to be in demand. Cosmetics Retail is diverse with 'Department Stores', 'Specialty Stores', 'Online Retailers', and various market segments like the 'Beauty Market', 'Luxury Beauty Market', 'Mass Market Beauty', 'Global Beauty Market', and 'Emerging Beauty Markets'. The 'Beauty Industry' continues to evolve with new innovations and consumer preferences.
The global personal care products market encompasses the production and research and development of a wide range of items, including cosmetics, perfumes, masks, sex toys, hair wigs and extensions, and polarized sunglasses. According to Technavio, the market size is determined by the consolidated revenue generated by manufacturers in this sector. Factors driving growth in this market include the rise in disposable income, leading to increased expenditure on luxury and lifestyle-related products such as natural cosmetics, organic cosmetics, luxury cosmetics, mass market cosmetics, color cosmetics, and skincare items. This trend is particularly prominent in emerging economies, where consumers are becoming increasingly conscious of their appearance and personal grooming.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
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