Authored By: Sarah
02 Sep 2024

Mass Beauty Care Market Size to grow by USD 112.7 billion between 2024-2028

Technavio, a leading provider of market research reports, has released its latest study on Mass Beauty Care Market. This report offers a comprehensive analysis of the current market trends, emerging opportunities, and key challenges. In the Mass Beauty Care Market, consumers exhibit a preference for facial care products that cater to both fundamental and ancillary skin concerns, such as hydration and anti-oxidation. This trend is evidenced by the rising demand for premium anti-aging solutions, like Olay Regenerist, which offer advanced benefits despite their higher price points. To capitalize on this consumer behavior and expand their customer base, industry players are anticipated to introduce new multi-functional products, thereby fueling market expansion. Dermalogica is another notable brand that delivers on this trend, promising to restore skin luminosity and enhance tone.

Key Highlights

Growth Projections

The global mass beauty care market  size is estimated to grow by USD 112.7 bn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  4.5% during the forecast period. Modern-day lifestyle changes and growing facial skin-related issues is driving market growth, with a trend towards introduction of multifunctional products  However, easy availability of counterfeit products  poses a challenge.Key market players include Amorepacific Corp., Beiersdorf AG, Colgate Palmolive Co., Coty Inc., Emami Ltd, Henkel AG and Co. KGaA, Himalaya Global Holdings Ltd., Johnson and Johnson Services Inc., Kao Corp., Kose Corp., Loccitane International SA, LOreal SA, Natura and Co Holding SA, Shiseido Co. Ltd., SUGAR Cosmetics, The Estee Lauder Companies Inc., The Procter and Gamble Co., and Unilever PLC.

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Major Findings

  • In today's fast-paced world, modern lifestyle changes have led to an increase in various facial skin issues. Factors such as pollution, stress, and unhealthy diets have become common contributors to skin concerns. As a result, the mass beauty care market has experienced significant growth, with an increasing demand for effective skincare solutions that cater to these issues. Consumers are seeking high-quality, affordable products that address their specific skin concerns, driving innovation and competition within the industry.

  • The mass beauty care market has experienced significant growth through the influence of social media and blogging. Consumers increasingly rely on digital platforms for product recommendations and reviews. Brands leverage influencer marketing and sponsored content to reach wider audiences, while bloggers provide in-depth product analysis and tutorials. This digital engagement fosters brand loyalty and drives sales. Social media and blogging have transformed the way beauty care products are marketed and consumed.

  • The mass beauty care market is plagued by the easy availability of counterfeit products, which poses a significant challenge for authentic brands. These imitations not only undermine the reputation of legitimate businesses but also put consumers at risk due to their subpar quality and potential health hazards. Ensuring the authenticity of products and raising consumer awareness about the dangers of counterfeits is crucial for maintaining trust and confidence in the industry.

  • The mass beauty care industry relies heavily on the use of chemicals to manufacture an array of products. While these substances may offer desirable benefits, they can also pose harmful side effects. Some common chemicals used in beauty care, such as parabens, sulfates, and formaldehyde, have been linked to allergic reactions, skin irritation, and potential health risks. Consumers should be aware of these potential hazards and opt for natural or organic alternatives whenever possible. It is essential to read labels carefully and consult with a healthcare professional if concerned about the safety of specific ingredients.

Market Research Overview

The global personal care market encompasses the production and R&D of a diverse range of products, 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 positive correlation between disposable income and discretionary spending, leading to increased expenditure on personal care and beauty products.

The Mass Beauty Care Market is experiencing significant growth, fueled by the Modern-day lifestyle changes and growing facial skin-related issues. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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Regional Insights

The Asia Pacific (APAC) region holds a significant market share in the global mass beauty care industry. The presence of a large population segment with middle and low income levels, coupled with the increasing consciousness towards personal hygiene and wellness, will fuel the demand for mass beauty care products in APAC. Additionally, factors such as celebrity endorsements, social media influencers, and a diverse product portfolio are anticipated to bolster sales in the region during the forecast period. The dense population in APAC and the rising trend of personal grooming among both genders further accentuate the market growth in this region.

Research Analysis Overview

The mass beauty care market is experiencing a significant shift in trends, with an increasing focus on multifunctional beauty products, gender-neutral skincare lines, and clean beauty solutions. Consumers are seeking out products that offer multiple benefits and cater to diverse needs. This trend is also extending to grooming products such as deodorants and shaving creams. Innovative packaging designs and strategic partnerships are also shaping the industry. For instance, some brands are using augmented reality and artificial intelligence to offer personalized skincare solutions and AI-powered virtual consultations. Ethical considerations are also at the forefront of consumers' minds, with a growing demand for clean beauty products free from harmful chemicals like Butylparaben and Propylparaben. The Leaping Bunny certification is becoming increasingly popular among consumers looking for cruelty-free and ethically produced cosmetics and skincare. Haircare, makeup, dental care, and grooming products are all seeing innovation, with new launches and trends emerging regularly. Social contacts and influencers continue to play a significant role in shaping consumer preferences and driving sales. As the beauty industry evolves, it's essential to keep up with the latest trends and consumer demands. By offering high-quality, ethical, and multifunctional products, brands can differentiate themselves and meet the needs of today's savvy consumers.

About Technavio                                                                        

Technavio is a global market research company offering comprehensive reports and insights on various industries. Our research helps businesses make informed decisions by providing actionable data and trends. Technavio is based on four simple principles: easy-to-access reports, robust industry coverage, a focus on new and emerging technologies, and competitive pricing. We believe in helping companies and executives become better equipped to make faster, sounder, and more effective decisions. Technavio is one of the most influential market research and advisory firms in the world. We work with business and technology leaders to provide cutting-edge market research and insights to companies. 

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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