Feb 13, 2020 (Market Insight Reports via COMTEX) -- Global Premium Beauty Industry – A Global Market Overview (2019-2023) (Avail a 10% off)
The Global Premium Beauty Market is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data which enhances the understanding, scope and application of this report.
The global premium beauty market is estimated to reach US$156.21 billion in 2023, growing at a CAGR of 6.94% for the period spanning from 2019 to 2023.
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Top Key Players: LOreal S.A., LVMH, Estee Lauder Companies Inc., Beiersdorf AG, Coty Inc. and Procter & Gamble Company.
The factors such as increasing female working population, rising middle class population, increasing millennials population and improving economy are expected to drive the market. However, growth of the industry will be challenged by high competition, stringent regulations and testing and ingredient requirement. A few notable trends include increasing focus on environmental sustainability, strong e-commerce growth, shift towards organic products, innovative packaging cosmetics and rising demand for multipurpose products.
The global premium beauty market is broadly segmented into four types, which are, skin care, hair care, fragrances and color cosmetics. Increasing demand for advanced products for skin care and hygiene helped skin care to remain at top position amongst all the segments. In the premium beauty market, skin care accounted for the highest share in 2018.
The fastest growing regional market is Asia-Pacific due to growing consciousness towards personal appearance in Asia-Pacific countries, such as China and Japan that have a major impact on the growth of the market. The U.S. and UK are highly established premium markets that contribute to significant shares in the global market. Rise in the premium brands along with the large customer base in the U.S. propelled the premium beauty market growth.
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Influence of the Premium Beauty Market report:
-Comprehensive assessment of all opportunities and risk in the Premium Beauty Market.
-Premium Beauty Market recent innovations and major events.
-Detailed study of business strategies for growth of the Premium Beauty Market -leading players.
-Conclusive study about the growth plot of Premium Beauty Market for forthcoming years.