Global Cosmetics Market: Overview
Cosmetics are products used to enhance various aspects of an individual’s appearance. Hair care, skin care, and deodorants are some of the most popular types of cosmetics available in the global market. The global cosmetics market has grown by leaps and bounds in the last few years due to the rising awareness among the global population. The growing geriatric population and its rising demand to maintain a youthful appearance has also had a major role in the expansion of the cosmetics market. Thus, the global cosmetics market is expected to expand significantly in the coming years.
Global Cosmetics Market: Drivers and Restraints
The global cosmetics market is primarily propelled by the rising health awareness among the global population and the increasing preference for maintaining a youthful appearance. The aging baby boomer population in the West has also allowed the cosmetics market to prosper, since the elderly are trying to maintain their youthful appearance instead of giving in to the onset of signs of aging. Anti-wrinkle products are thus among the major segments of the global cosmetics market.
The global cosmetics market is also propelled by the increasing awareness about the adverse effects of pollution on the skin and hair. Due to rapid urbanization and industrialization, pollution has spiraled out of control in many emerging regions, with cities such as New Delhi, Mumbai, Beijing, and Shanghai regularly showing up on lists of the most polluted cities in the world. Air pollution can cause dryness, rashes, and several other minor and major skin and hair conditions, which eventually lead to poor skin health. Due to this, protective cosmetic products are rising in demand to counter the adverse effects of pollution on the body.
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The possible side effects of cosmetic products on human health are the major restraint on the global cosmetics market. To counter this, companies in the global cosmetics market are increasingly adding natural and organic products to their portfolio. Rather than natural cosmetics emerging as a rival for conventional cosmetics, switching to natural cosmetics is expected to emerge as a feasible and highly profitable strategy for cosmetics industry players in the coming years.
The increasing utilization of e-commerce has also emerged as a beneficial factor for the global cosmetics market. Online shopping has allowed manufacturers to establish a sales network in developing regions even without having a major manufacturing plant in the region, boosting the global market.
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Global Cosmetics Market: Geographical Dynamics
The increasing disposable income of consumers in developing regions has also helped the cosmetics market significantly. Owing to their high disposable incomes and rising living standards, consumers in regions such as Asia Pacific, Latin America, and the Middle East are becoming increasingly important for cosmetics industry players, since countries such as China, India, Indonesia, and Brazil have a large population and thus a large potential consumer pool.
The Asia Pacific (APAC) market for cosmetics has expanded rapidly in the last decade. The region has become a major player in the global cosmetics market. The rising disposable income of consumers in this region has been a major factor boosting the APAC cosmetics market. Western Europe and North America are the established hubs in the cosmetics industry and are home to several major players in the industry. These factors will result in these two regional markets retaining their high shares in the global cosmetics market in the coming years.
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Middle East and Africa
- Latin America
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
Consumer Goods
The market research reports from TMR well covers the ever-evolving dynamics of the consumer goods sector. Economic growth, globalization, and changing lifestyle are some aspects that deeply influence the consumer goods sector. This, along with cultural mindsets that influence consumer buying behavior are duly comprehended for providing business intelligence of the consumer goods sector via our reports. Low entry barrier that attracts participation from new players in the consumer goods sector, which requires established players to be agile in the changing vendor landscape are subtly covered in our reports.
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