Beauty and Personal Care Products Market Size, Share, Growth Analysis, By Products(Skincare, Haircare, Makeup, Fragrance), By Distribution Channels(Supermarket, Speciality stores, Drug Stores and Online), By Region - Industry Forecast 2024-2031

Drivers

Rising demand for anti-pollution skincare products.

• For governments and residents alike, controlling air quality around the world continues to be very difficult. Globally, the state of the air has gotten worse due to urbanisation, industrialisation, and vehicular pollution. The demand for anti-pollution skin care products rises as air pollution increases globally because these products can reduce or avoid the impact of air pollution on skin health. Anti-aging treatments help moisturise the skin, reduce the appearance of wrinkles, creases, and age spots, as well as improve skin tone, protect against ultraviolet (UV) radiation, and boost collagen formation. Hives and eczema are two skin disorders that can be brought on by air pollution. Manufacturers of hygiene and beauty goods are being pushed to concentrate more on creating remedies that can proactively prevent skin damage due to the damaging effects of air pollution on the skin These anti-pollution treatments also assist in enhancing skin oxidation and shield skin from harmful air pollution. As a result, during the projection period, these variables are anticipated to fuel market expansion.

Use of Natural Skin Care Products is Increasing

• It is projected that increased consumer awareness of the benefits of using natural cosmetics, such as natural skin care products, will create excellent market prospects. This is because completely natural skin care products don't have any negative side effects, they don't cause early skin ageing, and they leave the skin shining and radiant. For instance, skincare products manufactured from natural and pure substances, such as lotions and facewash, don't cause allergies or have any negative side effects. There are no complex chemicals, synthetic chemicals, or artificial fragrances in the natural cosmetic products because they are manufactured entirely from natural materials like aloe vera, sandalwood, rose, turmeric, and coconut milk. Also, using natural nutrients like quinoa and jojoba oil is quite efficient at delaying the onset of old age. These elements are predicted to fuel the expansion of the cosmetics industry throughout the forecast period.

Restraints

Availability of Counterfeit Products

• Counterfeit beauty and personal care products can lead to significant economic losses for genuine manufacturers and sellers. These losses can be due to a decline in sales, revenue loss, and the costs of legal action against counterfeiters. Counterfeit products are often of inferior quality and may contain harmful ingredients that can lead to serious health problems. The use of these products can damage the reputation of genuine products, leading to a decline in consumer trust. Counterfeit products are often designed to look similar to genuine products, making it difficult for consumers to distinguish between them. This confusion can lead to a decline in sales of genuine products as consumers may opt for cheaper counterfeit alternatives.

Negative public perception

• Negative public perception can lead to a decline in sales of beauty and personal care products. Consumers may choose to purchase products from brands that align with their values and avoid brands that do not meet their standards. it can damage the reputation of a brand and impact consumer trust. It can take time and resources to repair this damage, which can be a challenge for companies in the market. Negative public perception can lead to increased regulatory scrutiny of the beauty and personal care products market. Regulatory agencies may impose stricter requirements on manufacturers and sellers to address consumer concerns.