The Toiletries Global Market Report 2024 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 Toiletries Global Market Report 2024, The toiletries market size has grown rapidly in recent years. It will grow from $349.95 billion in 2023 to $391.95 billion in 2024 at a compound annual growth rate (CAGR) of 12.0%. The growth in the historic period can be attributed to growing demographic changes, consumer preferences, marketing and advertising, health and wellness trends.
The toiletries market size is expected to see rapid growth in the next few years. It will grow to $620.08 billion in 2028 at a compound annual growth rate (CAGR) of 12.2%. The growth in the forecast period can be attributed to sustainability and eco-friendly products, personalization trends, wellness and self-care culture, innovations in ingredients, globalization of brands. Major trends in the forecast period include digital marketing and e-commerce, technological advancements, natural and organic products, personalization and customization, wellness and self-care, men’s grooming products.
The ageing population is expected to be a growth driver for this market. Sales of products such as anti-aging creams and peels, wrinkle-reducing moisturizers, and other anti-aging topical treatments are expected to increase. Apart from this, older women usually have more disposable income than younger women. This will make it easier for them to spend more on cosmetics. For instance, in July 2022, according to the World Population Prospects 2022 published by relief web, a US-based humanitarian information portal, stated the global population aged 65 years or above is projected to rise from 10% in 2022 to 16% in 2050. Thus, driving the toiletry market going forward.
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The toiletries market covered in this report is segmented –
1) By Type: Lotions (Including Sunscreens), Hair Preparations, Face Creams, Perfumes, Shaving Preparations, Other Cosmetic Preparations
2) By Preference: Mass, Premium
3) By Gender: Male, Female
4) By Distribution Channel: Hypermarkets/Supermarkets, E-Commerce, Pharmacy Stores, Other Distribution Channels
Companies are focusing on the manufacturing of toiletries based on natural and organic products due to increased awareness of consumers about the hazards due to the usage of synthetic materials. Toiletries are products focused on consumer hygiene and beatification. Companies are producing products with a high rate of transparency in ingredients, packaging, and sustainability as the end-users are opting for a healthy lifestyle. Natural and organic products are obtained from plant extracts, vegetables, and essential oils with higher levels of vitamin C and essential minerals such as calcium, magnesium, iron, and chromium and are eco-friendly. For instance, by March 2021, Maybelline and Lancôme maker L’Oréal aims to derive nearly all its ingredients from renewable plant sources and abundant minerals by 2030, as demand for organic and environmentally friendly cosmetics grows.
The toiletries market report table of contents includes:
1. Executive Summary
2.Toiletries Market Characteristics
3.Toiletries Market Trends And Strategies
4.Toiletries Market analysis
5.Toiletries Market Size And Growth
6.Toiletries Segmentation
7.Toiletries Regional And Country Analysis
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27.Toiletries Competitive Landscape And Company Profiles
28.Toiletries Key Mergers And Acquisitions
29.Toiletries Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Itochu Corporation
- Johnson & Johnson
- Tesco PLC, The Procter & Gamble Company
- Seven & i Holdings Co. Ltd.
- Alimentation Couche-Tard Inc.
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