Cosmetics Market is valued at 392.40 billion US dollars in 2022 and is expected to reach a valuation of 542.5 billion US dollars by the end of 2028, projecting to have a compound annual growth rate of 6.32% during the forecast period of 2023-2028

Cosmetics Market Driving Factors:

One of the major driving factors of the Cosmetics market is the growth in consciousness about external beauty along with the individual’s internal intellect in emerging economies.

The rise in the use of cosmetics among men in the daily routine as well as changes in the lifestyles of people across the globe is some of the major factors which propel the growth of the market of cosmetics revenue rate.

Innovative strategies product launches with natural ingredients, new developments, launches by major key players in the market, and a rise in internet penetration are some other major driving factors of the Cosmetics equipment market revenue rate in the upcoming years.

The rising growth of cosmetic products at the global level, rising disposable income, as well as growing youth population, are some of the major driving factors which propel the growth of the market of Cosmetics across the globe.

Increasing consumer awareness regarding the adverse effects of synthetic ingredients as well as the growing trend of organic cosmetic products are some of the major driving factors which propel the growth of the market cosmetics revenue rate during the forecast period.

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Market Segmentation:

Cosmetics Market On the basis of category:

The Cosmetics market is segmented into hair care products, deodorants, skin and sun care products, fragrances, makeup and color cosmetics, and other categories. Among these segments, the skin and sun care products segment holds the major share of the market due to the rise in awareness about beauty and consciousness among the people.

Cosmetics Market On the basis of gender:

The market of Cosmetics is divided into three types, namely men, women, and unisex. Among these segments, the women segment holds the major share of the market among others due to the rise in the beauty and conscious female population across the globe.

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Cosmetics Market On the basis of distribution channels:

The market of Cosmetics is segmented into specialty stores, pharmacies, hypermarkets, supermarkets, online sales channels, and other distribution channels. Among these segments, the hypermarket and supermarket segment holds the major share of the market owing to the factors such as the availability of a broad range of consumer goods that come under a single roof and ample parking space as well as convenient operation timings. Furthermore, increase in urbanization, a rise in the working-class population as well as competitive pricing.

Regional Analysis:

The Cosmetics market is elaborated in various regions all around the world, such as

North America (US, Mexico, Canada, and the rest of North America)
European region (France, Germany, UK, Italy, and Spain)
Asia Pacific region (India, Japan, China, Australia, and the Rest of Asia Pacific)
Latin America
The Middle East and Africa
Key market players:

Revlon, Inc
Shiseido Company Limited
Skin Food Co., Ltd
The Estee Lauder Companies Inc
Avon Products Inc
Kao Corporation
L’Oreal S.A
Oriflame Cosmetics S.A
The Procter & Gamble Company
Unilever Plc.
COVID-19 impact on the Cosmetics Market:

The COVID-19 pandemic had disrupted the global economy in distinct ways. Almost every sector faced difficulties during the pandemic. The supply chain and manufacturing were completely shut down, which diminished the growth rate of the cosmetics market. Lockdown restrictions and a ban on flights majorly affected the growth rate of the market during the outbreak. However, the market is expected to grow at a steady pace in the coming years.

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