The global beauty and personal care products market is expected to touch the compounded annual growth rate of more than 6% in the coming years because of the healthy growth track of the increasing prevalence of natural and organic personal care products among people. The introduction of the concept of augmented reality in the beauty industry and growing awareness about anti-ageing products is another very important factor that gives a great boost to the whole market. This particular market will be witnessing good growth opportunities because of several kinds of factors at the most prominent one is the growing preference for NOPC products which refers to natural and organic personal care products because nowadays everybody wants to use those products which are based upon natural ingredients. Additionally, the increasing popularity of men’s grooming products is another very important factor that gives a great growth opportunity to the demand of products and the increasing prevalence of the demand for anti-ageing products is another very important factor.
Following are the most important insights of this particular market based upon syndicated market research:
- The product insights:Depending upon the product-based category the market can be segmented into skin care, hair care, colour cosmetic, deodorants, makeup and several other categories. Under this particular system, the skincare segment represents approximately more than one-third of the overall revenue and similar trends are expected to prevail in the coming years as well. The major growth providing factor is the increasing awareness about the importance of maintaining youthful skin and a good appearance among people. The maximum demand for these kinds of products will be in the regions of Asia and Pacific and several other kinds of areas because of that large population base.
- Distribution channel insights:Depending upon the distribution channel the market can be categorised into the retail chain, hypermarket, direct selling, speciality stores and e-commerce. E-commerce is considered to be the best growth providing factor in this particular area especially the regions of Asia Pacific because of the multiple benefits provided by e-commerce and rapid urbanisation. Countries like China and India are exhibiting good and robust industrial development along with extensive urbanisation which leads to increasing penetration of the internet of things in this particular area especially the beauty and personal care products market.
- The type insights: Depending on these kinds of products can be categorised into organic, vegan and inorganic. The growing awareness regarding the benefits of vegan cosmetics across the globe and awareness about animal activism is considered to be a great growth providing opportunity and such factors are anticipated to provide good growth to such cosmetics. The growing incidence of harmful chemicals in beauty and personal care products is another point that gives a great growth opportunity to this particular market.
- The regional insights: As per this particular point, the Asia Pacific dominates this particular market in terms of revenue as well as market share simultaneously. This particular dominance is because of the increasing population and increasing demand for organic products along with the growing penetration of artificial intelligence and augmented reality in the beauty industry which positively influences the whole market. The Asia-Pacific regional market is expected to touch the good compounded annual growth rate because of the flourishing e-commerce industry and increasing disposable income of the population. Apart from this consumer buying purchasing patterns also indicate a good amount of shifting from inorganic cosmetics to organic ones because people are becoming more and more aware of the natural ingredients being present in such products so that they can avail themselves multiple advantages in the long run.
The syndicated market research report is prepared by experts who are very much successful in terms of ensuring that market intelligence will be easily available for effective decision-making of the key players. It also helps in ensuring that market estimates and forecasts will be perfectly undertaken along with growth opportunities and trend analysis. The report also helps in laying down the segment and regional revenue forecast so that concerned organisation can make the best possible decisions in their best interest. This type of analysis will further allow them to have a prominent position in the industry in the long run.