Global Premium Cosmetics Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Premium Cosmetics Market” is a title of a market research report produced by Trusted Business Insights, which is segmented based on product, distribution channel, and region. In the report, various data and information on key players, growth opportunities, drivers, trends, revenue details, and restraints are included in detail.  Opinions of experts from the industry are invested in the report to reach intelligent and faultless conclusions and findings.

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Overview

Various Premium cosmetics include fragrances, skincare products, hair care products, color cosmetics, sun care products, baby care products, deodorants, and bath products. Numerous specialty ingredients are used to produce premium products. Some value addition, such as different organic ingredients including plant extracts, oils, microalgae, and pearl extracts, are accompanied by these premium cosmetic products. These elements are responsible for the high price of the premium cosmetic products as these ingredients cost higher than other ingredients in manufacturing premium cosmetic products.

Dynamics

The growth of the global premium cosmetics market is attributed to increasing demand for natural cosmetics and wellness beauty products. Factors including growing influence of premium cosmetics and brand recognition through various social media channels are projected to further increase demand for the product in the global premium cosmetics market over the forecast period. Other significant factors attributed to growth of the market include increasing beauty consciousness among men and financial independence among women. Various factors such as premium ingredients and positive effects these ingredients can have on skin are changing consumer preference from mass-produced or traditional products to premium cosmetics. Increasing demand from consumers for premium cosmetics for different problems, including acne, age spots, and pigmentation, is expected to further drive demand for the product in the global premium cosmetics market over the forecast period. In addition, growing demand for substantiated efficacy products and active ingredients is fueling sales of the product. Consumer preference for different branded and imported cosmetics is majorly fueled by product safety, brand name, and price. Moreover, increasing disposable income and easy availability of different premium products are projected to increase demand for the products in the global premium cosmetics market over the forecast period. Rising demand for long-lasting makeup and anti-aging products has been supporting growth of the market. In addition, increasing preferences from consumers for mini-sized cosmetics products is also fueling demand for the product in the global market. Another factor projected to drive growth of the market is increasing demand from men for cosmetics products. In addition, growth of men’s grooming industry is also expected to drive growth of the market over the forecast period. This factor is also expected to bring growth opportunities to the global premium cosmetics market over the forecast period.

Global Premium Cosmetics Market 
Segment Analysis:

By Product: Among the product segments, the makeup segment is projected to account for major revenue share as compared to the other segments. This growth is attributed to growing popularity and demand for various natural and organic cosmetic products to get away from various skin irritation and infections, which are results of using products with chemicals as ingredients.

By Distribution Channel: Among the distribution channel segments, the offline segment is expected to dominate the market in terms of revenue share over the forecast period. This growth of the segment is attributed to easy availability of these products in various retailer shops and hypermarkets/supermarkets. In addition, in these shops, consumers can have a touch and feel experience before they make an actual purchasing decision, which is attributed to growth of the segment.

Global Premium Cosmetics Market 
Regional Analysis:

The market in the Asia Pacific region is projected to dominate the market in terms of revenue share, which is attributed to growing use of premium cosmetics by working women in the region and increasing use of cosmetics by men. Also, in the region, consumers are shifting preferences to natural and organic products, which is expected to drive growth of the premium cosmetics market in the region as natural and organic ingredients are part of various premium cosmetics products.

Global Premium Cosmetics Market Segmentation: 

By Product:

Skincare
Haircare
Makeup
Fragrance
Others

 By Distribution Channel:

Offline
Online