Global Cosmetics and Toiletries Market - Overview
Cosmetics
and toiletries include products ranging from perfumes,
deodorants, creams to lotions and hair-care products. These products are used
for enhancing the general appearance of a user. The global cosmetics and
toiletries market has been experiencing a considerable demand in recent years
because of the growing consumer awareness about personal hygiene. Moreover,
growing skin and dermatology problems too have created ample business
opportunities for the development of the global market for cosmetics and
toiletries.
Global Cosmetics and Toiletries Market - Notable
Developments
The global cosmetics and toiletries market features a
fragmented competitive landscape. This fragmentation of the market is because
of the presence of several notable brands and also emergence of promising
players.
Some of the key players in the global cosmetics and
toiletries market include names such as Shiseido, Kao, Avon, Johnson &
Johnson, Beiersdorf, Colgate-Palmolive, Estee Lauder, L’Oreal, Unilever, and
Procter & Gamble, among others.
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These leading players in the market are constantly striving
to develop and introduce new and innovative products so as to attract more
customers. Moreover, they pay special attention in maintaining the quality of
the product so as to retain a robust brand value and loyalty of the consumers.
- In
August 2018, L’Oréal announced that the company has successfully taken
over Logocos Naturkosmetik, a German beauty brand that sells vegan and
organic beauty products.
Global Cosmetics and Toiletries Market - Drivers and
Restraints
There are numerous reasons behind the recent growth of the
global cosmetics and toiletries market. One of the biggest driving factors for
the market growth has been shifting of manufacturing plants to cost-efficient
Asian countries such as China and India. Even though several exclusive and
well-known cosmetics brands are available at high brow departmental stores, the
rise of new channels of distribution such as tele-home shopping, infomercials,
or online retailing has all helped in boosting the growth of the global market.
Another important trend that has been observed in the global
cosmetics and toiletries market is the growing preference towards natural,
organic, and herbal cosmetic products. People are extremely inclined to buy
such products to save their skin from harmful chemicals used in synthetic
products. This has brought in a complete shift in terms of marketing products
by the manufacturers and is thus creating lucrative business opportunities.
This too is expected to drive the growth of the global market for cosmetics and
toiletries.
Global Cosmetics and Toiletries Market - Geographical
Outlook
In terms of regional segmentation, the global cosmetics and
toiletries market has five key regions. These regional segments are Latin
America, the Middle East, and Africa, Asia Pacific, Europe, and North America.
Of these, currently, the global market for cosmetics and toiletries has been
dominated by the region of North America. In recent years, increasing demand
for these products has been the key driving factor for the growth of the North
America market. Europe too has been experiencing a huge demand for cosmetics
and toiletries in recent. This has also put the development of the Europe
market on the course for achieving stellar valuation.
On the other hand, the regional segment of Asia Pacific is
expected to show promising growth in the coming years of the forecast period.
Changing lifestyle trends and spending habits in the region has been
influencing the development of the cosmetics and toiletries market. Moreover, with
the growing spending power of people in emerging economies such as India and
China, the growth of the cosmetics and toiletries market is expected to
flourish even further.
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
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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
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