The Cosmetics And Personal Care Stores by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Cosmetics And Personal Care Stores, The cosmetics and personal care stores market size has grown strongly in recent years. It will grow from $338.18 billion in 2023 to $366.38 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to consumer beauty trends, economic conditions, marketing and branding, social media influence, retail expansion.
The cosmetics and personal care stores market size is expected to see strong growth in the next few years. It will grow to $493.11 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to e-commerce growth, sustainability and clean beauty, inclusivity and diversity, innovations in formulations, global beauty trends.. Major trends in the forecast period include clean beauty retail spaces, data-driven personalization, subscription services and beauty boxes, green and sustainable packaging, experiential retail and beauty services.
The demand for a healthier lifestyle and hygienic living is expected to propel the growth of the cosmetics and personal care stores market going forward. A healthier lifestyle is taking care of the body and mind by eating a balanced diet, exercising frequently, getting adequate sleep, managing stress, and engaging socially, whereas hygienic living refers to practices that promote cleanliness and good health, such as regular handwashing, face hygiene, soap and water bathing, and others. Cosmetics and personal care stores may aid in the maintenance of a better lifestyle and sanitary living by providing a diverse choice of items that can assist consumers in keeping their bodies clean, healthy, and well-groomed. For instance, in March 2023, according to a statistical report published by Statistics Canada, a Canada-based statistical agency, in February 2022, the consumer price index for health and personal care was 134.6, and it grew to 143.0 in February 2023, reflecting a 6.2% rise. Therefore, the demand for a healthier lifestyle and hygienic living drives the cosmetics and personal care stores market.
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The cosmetics and personal care stores market covered in this report is segmented –
1) By Product: Skin Care, Hair Care, Color Cosmetics, Fragrances, Other Products
2) By Raw Materials: Organic, Inorganic
3) By Distribution Channel: E – Commerce, Direct Selling, Specialty Stores, Hypermarkets And Retail Chains, Other Distribution Channels
Product innovations are a key trend gaining popularity in the cosmetics and personal care stores market. Major companies operating in the cosmetics and personal care stores market are focused on developing innovative solutions to strengthen their position in the market. For instance, in March 2023, Walmart Inc., a US-based retail company, developed Clean Beauty, an online shopping platform that assists customers in finding beauty items produced. Additionally, many beauty brands sold at Walmart are exploring more sustainable packaging alternatives, assessing their carbon footprint, and adopting cruelty-free and ethical standards. The uniqueness of this platform is that they make products without certain ingredients mentioned on a “”Made Without List”” that Walmart produced in collaboration with state and federal regulators, suppliers, and experts, including the Environmental Defense Fund (EDF).
The cosmetics and personal care stores market report table of contents includes:
1. Executive Summary
2. Cosmetics And Personal Care Stores Market Characteristics
3. Cosmetics And Personal Care Stores Market Trends And Strategies
4. Cosmetics And Personal Care Stores Market – Macro Economic Scenario
5. Global Cosmetics And Personal Care Stores Market Size and Growth
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26. South America Cosmetics And Personal Care Stores Market
27. Brazil Cosmetics And Personal Care Stores Market
28. Middle East Cosmetics And Personal Care Stores Market
29. Africa Cosmetics And Personal Care Stores Market
30. Cosmetics And Personal Care Stores Market Competitive Landscape And Company Profiles
Top Major Players:
- Unilever PLC
- The Estée Lauder Companies Inc
- Shiseido Co. Ltd.
- Revlon Inc
- Procter & Gamble Co
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