Global Premium Cosmetics Market

Premium Cosmetics Market Size, Share, Growth Analysis, By Type(Skincare, Haircare, Makeup, Fragrance), By Distribution(Hypermarkets/Supermarkets, Specialty Stores, Pharmacy, Drug Stores), By Region - Industry Forecast 2024-2031

Report ID: SQMIG30L2118 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 67 | Figures: 75

Premium Cosmetics Market Regional Insights

During the projected period (2023-2030), Asia Pacific is expected to continue to be the fastest-growing geographical market. The growth is driven mostly by in urban areas with an increase in female workforce, and the rise in middle-class disposable income. The rising demand for luxury cosmetics in China and Japan is also driving growth. Due to the presence of a high number of international corporations, China accounts for largest share in the regional premium cosmetics market.

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Premium Cosmetics Market size was valued at USD 104.32 billion in 2019 and is poised to grow from USD 116.2 billion in 2023 to USD 187.22 billion by 2031, growing at a CAGR of 6.14% in the forecast period (2024-2031).

Premium Cosmetics Market Top Players Company Profiles  'L'Oreal', 'Estee Lauder', 'Shiseido', 'Coty', 'LVMH', 'Unilever', 'Procter & Gamble', 'Chanel', 'Kao Corporation', 'Revlon', 'AmorePacific', 'Johnson & Johnson', 'Beiersdorf AG', 'Avon Products', 'Mary Kay Inc.', 'Clarins', 'Oriflame', 'Yves Rocher', 'Colgate-Palmolive', 'Henkel AG & Co. KGaA '

Consumer preference has shifted from traditional or mass-produced cosmetics to premium cosmetics as there has been growing awareness for premium ingredients and their beneficial effects on the skin. Furthermore, consumers are becoming increasingly concerned about various skin care issues such as acne, age spots, and pigmentation, which is pushing the adoption of high-end skin care cosmetics.

Rise in consumer awareness: Consumer awareness for high-quality, premium components in cosmetics and their impact on skin and hair is a crucial factor in shifting consumer preferences toward premium alternatives.

During the projected period (2023-2030), Asia Pacific is expected to continue to be the fastest-growing geographical market. The growth is driven mostly by in urban areas with an increase in female workforce, and the rise in middle-class disposable income. The rising demand for luxury cosmetics in China and Japan is also driving growth. Due to the presence of a high number of international corporations, China accounts for largest share in the regional premium cosmetics market.

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Global Premium Cosmetics Market

Report ID: SQMIG30L2118

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