Cosmetics Products Market in Russia to witness growth of USD 1008.27 mn through 2023-2027 | Forecast and Trend Analysis
The rising purchasing power of people aged 30-50 years, especially Millennials, followed by rapid urbanization, and the impact of social media influencers and bloggers has instigated significant market expansion of the Cosmetic Product Market in Russia. It is estimated to grow at a CAGR of 5.95% between 2022 and 2027 followed by a revenue growth of USD 1,008.27 million.
Emerging Trends that are Likely to Impact Market Growth: The market is mostly dominated by millennial consumers ranging from the age group 25 and 40. The rising consciousness and the increase in demand from the millennial population is an emerging trend in the Cosmetics Products Market in Russia. Online availability of products and the rising disposable income of millennial consumers are also some of the significant trends that have been instrumental in market growth.
Technavio has been monitoring the Cosmetics Products Market in Russia's growth trajectory of the market through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking.
Market Players of the Cosmetics Products Market in Russia: The leading companies uses product push-and-pull strategy to boost sales, followed by an online introduction of brands and marketing innovations in an effort to grab the millennial consumer's attention. Some of the major market leaders that are worth mentioning are Galderma SA, Giorgio Armani S.p.A., Intermira, International Flavors and Fragrances Inc., LOreal SA, Ltd. Liability Co. Arvitex, Malibu Health Products Ltd., Martiderm SL, Miranda Kerr Pty Ltd., Natura Dream Ltd., Planeta Organica, Soap Co. Spivak, etc.
Organizations like Ecocraft Cosmetics offer natural cosmetic and makeup products for the skin, hands, legs, and hair key offerings of the company comprise cosmetic products such as hair shampoo, hair spray, hair balm, serum, hair masks, and face scrub and masks.
Our report includes qualitative and quantitative analyses of companies with a wider understanding of the business ecosystem. Download Technavio's Sample Report for in-depth insights into key companies profiles.
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