Emphasis on Product Type (Cosmetics (Face, Lips, Eyes, Nails), Skin Care (Face, Body, Sun Protection, Baby & Child), Personal Care (Hair Care, Oral Care, Deodorants, Shaving), Fragrances)

By: UnivDatos Market Insights (UMI)

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UnivDatos Market Insights (UMI)

Email: sales@univdatos.com

***@univdatos.com UnivDatos Market Insights (UMI)Email: sales@univdatos.com

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--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 skin care 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.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.