Global Beauty and Personal Care market is expected to reach a market value of US$ 684.9 billion by 2026, growing at a reasonable CAGR of 4.67% during 2020-2026 period

Global Beauty and Personal Care market is anticipated to reach the market valuation of US$ 684.9 billion by 2026 expanding at a reasonable CAGR of 4.67% in the course of the forecasted period (2020-2026) from US$ 482.1 billion in 2018. The conception of beauty and personal care has progressed tremendously due to a strong rise in digital and social media influence. The desire to look good and feel good is raging more than ever in people from all walks of life and the yardstick has just gone higher. Beauty and personal care are no more restricted to basic hair care and skincare routines. It’s much more diversified and changing, hence providing a great growth opportunity for the industry participants. A large part of the business is growing due to the increase in the supply of salons and professional artists and it has further led to growth in a number of consumers preferring professionals for their beauty needs. Whereas consumers earlier would shampoo and condition their hair at home, now they are keener to walk into a salon and get more professional treatment for their hair and skin and that fairly is driving the growth of the industry. From a demographic perspective, the prime three factors driving this growth increasing disposable income, more women coming into the workforce and the rising number of social occasions.

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Moreover, increasing investments by established players along with numerous start-ups have remarkably scaled up the potential for the industry, further leading a surge in demand for male grooming products such as shower and shaving products, men face cream and deodorants advanced technologies into their crop cultivation. However, unregulated beauty industry, negative environmental impact due to inorganic beauty products along with high costs of raw materials tend to restrict the growth trend of beauty and personal care market. The boosting performance of beauty and personal care market has also motivated the beauty industry to evaluate opportunities to collaborate and enhance their investments in beauty and personal care industry. Established FMCG players are introducing new product lines such as herbal, ayurvedic, organic, etc. with a focus on the overall wellness. It has been observed that the term beauty is very subjective and is defined differently by different people. It is inclusive of numerous facts to it such as physical, social, cultural, emotional. While the perceived experience of pleasure or satisfaction is the common motive of all the facets. Thus, the beauty industry across the globe is considered as a gamut of all those services and products which focus on enhancing the aesthetics or appeal of an individual to make him/her look and smell better. Salons, spas (rejuvenation) and aesthetic dermatology constituting non-surgical procedures are three key segments of the beauty and personal care industry.

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Based on product category, the global beauty and personal care market is fragmented into Color Cosmetics (Face care, Lip care, Eyecare, Nail care and others), Skin Care (Face care, Body care, Sun Protection, Baby & Child products), Personal Care (Hair Care, Oral Care, Deodorants, Shaving Others (Showers & Bath)), and Fragrances. Personal care products dominated the beauty and personal care market in 2019, accounting for 43.5% share. Based on the source, the global beauty and personal care market is segmented into organic and inorganic. In 2019, the inorganic product segment generated revenue of US$ 364.3 billion, however, demand for organic beauty and personal care products is expected to witness the highest CAGR growth of 5.38% during the forecast period (2020-2026). Based on product class the market is segmented into mass and premium products. Mass products dominated the market with a 75.2% share in 2019. On the basis of the distribution channel, the market is segmented into convenience stores, hypermarket/supermarket, pharmacies/drug stores, and online retail channels. In 2019, the Pharmacies/Drug Stores segment generated revenue of US$ 55.36 billion. However, online retail channels are poised to witness the highest CAGR growth of 5.8% during the analyzed period.

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Additionally, for better investigation and penetration of the Global Beauty and Personal Care market, a detailed analysis was conducted for different regions/countries across the globe. Major region/county analyzed in the study includes North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Russia and Rest of Europe), Asia-Pacific (China, Japan, India, Indonesia, Thailand and Rest of Asia-Pacific), MENA (UAE, Saudi Arabia and Rest of MENA) and Rest of the World (Argentina, Brazil and Other). Asia-Pacific beauty and personal care sector is expected to generate revenue of US$ 252.3 billion by 2026. Attributed to a solid increase in disposable income, rising standards of people, along with growing expenditure of people on personal care products specifically luxury items such as fragrances and color cosmetics has catalyzed the demand for beauty and personal care products in the region. Some of the major companies profiled in the global beauty and personal care market are Loreal, P& G, Unilever, Colgate Palmolive, Estee Lauder, Johnson & Johnson, Oriflame Cosmetic Pvt Ltd, Coty, Revlon, Shiseido and Beiersdorf. These players have established their market presence over the decade in the industry with major growth strategy including product launches, market expansion, a partnership among others. The industry has also witnessed the emergence of several start-ups over the past few years, majorly in the Asia-Pacific and American regions.

Global Beauty and Personal Care Market Segmentation

Market Insight, by Product Category

Color Cosmetics Products Face Care Lip Care Eye Care Nails Others

Skin Care Products Face Care Body Care Sun Protection Baby & Child

Personal Care Products Hair Care Oral Care Deodorants Shaving Others (Showers & Bath)

Fragrances Products

Market Insights, by Source

Organic

Inorganic

Market Insights, by Product Class

Mass

Premium

Market Insights, by Distribution Channel

Convenience Stores

Hypermarkets/Supermarkets

Pharmacies/Drug Stores

Online Retail Channels

Market Insight, by Region

North America Beauty and Personal Care Market United States Canada Rest of North America

Europe Beauty & Personal Care Market Germany United Kingdom France Russia Rest of Europe

Asia-Pacific Beauty & Personal Care Market China Japan India Indonesia Thailand Rest of Asia-Pacific

MENA Beauty & Personal Care Market United Arab Emirate Saudi Arabia Rest of MENA

Rest of World Beauty & Personal Care Market Brazil Argentina Other Countries



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