According to a new report Global Premium Cosmetics Market, published by KBV Research, The Global Premium Cosmetics Market size is expected to reach $194 billion by 2025, rising at a market growth of 7.5% CAGR during the forecast period. The increased awareness of premium ingredients and their significant impact on the skin is changing consumer preference from conventional or mass-produced cosmetics to premium cosmetics. The preference for premium cosmetics for concerns like acne, age spots, and pigmentation is anticipated to work well for market growth.
Offline distribution channel held the largest market share in 2018 and over the forecast period this channel sub-segment is expected to hold a dominant share. The online distribution channel is expected to record a significant growth rate during the forecast period. Extensive internet usage, awareness of the benefits of online product comparison before purchasing, and the presence of a variety of products, are some of the key factors driving premium cosmetics online sales.
The skin care sub-segment held the largest market share in 2018 and is expected to continue to dominate, fueled by high consumption in the Asia Pacific region. Consumers prefer products like sunscreens, face creams, and body lotions to reduce acne scars, freckles, age spots, and discoloration. The makeup segment is predicted to grow at 7.8% CAGR during the forecast period. Market growth has been associated with the growing demand for organic and natural color cosmetics to prevent skin infection and irritation.
The Asia Pacific is expected to remain the segment with the highest and fastest growth over the forecast period. Growth is fueled by developing economies, growing women's workforce, and rising middle-class disposable incomes. North America is the second-largest premium cosmetic market, and also the fastest-growing region. The growth is attributable to the industry's massive influence on entertainment. Increasing customer interest in glamor and movies is anticipated to drive regional demand for the product. Additionally, The Europe market is expected to witness a CAGR of 6.8% during (2019 - 2025).
Structural Insights: https://www.kbvresearch.com/premium-cosmetics-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of L'Oreal Group, Kao Corporation, Shiseido Company, Limited, Estee Lauder Companies, Inc., LVMH SE (Christian Dior), Revlon, Inc. (MacAndrews & Forbes), The Procter and Gamble Company, Coty, Inc. (JAB Cosmetics B.V.), Ralph Lauren Corporation, and Chanel S.A.
Recent Strategies Deployed in Premium Cosmetics Market
» Partnerships, Collaborations, and Agreements:
- Nov-2019: Coty came into partnership with Kylie Cosmetics. Under this partnership, they would develop Kylie’s existing beauty business into a global powerhouse brand together.
- Aug-2019: Shiseido came into partnership with Tory Burch for the development and distribution of Tory Burch beauty brands.
- Jul-2019: P&G's My Black is Beautiful (MBIB) came into partnership with Sally Beauty to launch a new haircare line in the US. The new hair care line includes fortifying conditioner, hydrating-sulfate free shampoo, intense recovery treatment products, and 2 tangle slayer conditioning creams for type 3 and type 4 hair treatment products. The company is aimed at developing products that suit diverse hair types.
- Sep-2018: Estee Lauder launched Hello, Calm mask, in collaboration with Sephora, a chain of personal care and beauty products. The product has non-intoxicating Cannabis Sativa seed oil features.
- Dec-2019: Estee Lauder completed the acquisition of Have & Be Co. Ltd., a global skincare company behind Dr. Jart+ and men’s grooming brand Do the Right Thing. The acquisition helped the former company in the broadening of its product portfolio.
- Oct-2019: Shiseido took over Drunk Elephant, a cult skincare brand. This acquisition enhances the portfolio of skincare products of Shiseido made with an efficacious level of ingredients.
- Dec-2018: P&G acquired Walker & Company Brands, a company engaged in making beauty and health simple. Walker & Company has well-established brands including FORM Beauty, a premium hair care collection designed for meeting the needs of the increasing number of women with textured hair and Bevel, a comprehensive grooming experience designed for the specific needs of men with coarse or curly hair.
- Oct-2018: L'Oreal acquired Logocos Naturkosmetik AG for the expansion of its natural beauty product portfolio. Logocos products cover skincare, haircare, hygiene, and hair color product categories. Through this acquisition, L'Oreal is aimed at broadening its organic brand portfolio.
- Jun-2018: L’Oreal took over Nanda Co. Ltd., a Korean lifestyle make-up and fashion company, which would help L'Oreal in contributing towards nourishing the growing appetite of make-up in millennials. Nanda owns a brand 3CE, which contributes 70% of total revenues; L'Oreal will expand the sales of 3CE internationally.
- Dec-2017: Kao announced the acquisition of Oribe Hair Care from Luxury Brands Partners, LLC. It joins Kao's Salon Division portfolio of professional beauty brands. Oribe is popular among the consumers for its skincare, haircare, makeup tools, body care, and accessories.
- Jan-2017: L'Oreal announced the acquisition of three companies, CeraVe, AcneFree, and Ambi, from Valeant Pharmaceuticals International. This acquisition complemented the skincare division of L'Oreal and it would help L'Oreal in doubling its revenues.
- Nov-2018: Estee Lauder opened a first travel retail counter for its subsidiary, Too Faced, located at DFS store in Terminal 4 at John F. Kennedy International Airport in New York. This counter will showcase cosmetic products such as replenishing primer, hydrating coconut water spray, foundations, mascara, etc.
- Jan-2020: Revlon launched NEW Total Color, a high performance, clean, and vegan permanent hair color.
- Dec-2019: Kao unveiled ultra-fine spray, a moisturizing facial mask. This mask is made up of fibers one-100th the thickness of a human hair.
- Sep-2019: Estee Lauder introduced Beautiful Belle Love, a new fragrance range for the modern brides.
- May-2019: Coty launched Gucci Makeup by Alessandro Michele to broaden its portfolio. This makeup includes three new Gucci Makeup lipstick ranges having different formulations.
- Mar-2019: P&G released Waterless hair care collection, a new haircare brand. The collection includes ultra-lightweight Foam Dry Shampoo, residue-free Dry Shampoo spray, range of Dry Conditioners, and range of alcohol-free Hair Refreshers. The alcohol-free hair refreshers provide instant odor-detox, anti-freeze benefits, and static control.
- Sep-2018: Revlon unveiled PhotoReady Candid Natural Finish Anti-Pollution Foundation for its Platinum and Diamond members. This foundation contains anti-pollution, anti-oxidants, and anti-blue light ingredients for protecting the skin.
» Acquisition and Mergers:
» Geographical Expansions:
» Product Launches and Product Expansions:
Scope of the Premium Cosmetics Market Analysis
Market Segmentation:
By Product
- Skincare
- Makeup
- Hair care
- Fragrance
- Other Premium Cosmetics
By Distribution Channel
- Offline
- Online
By Geography
North America
- US
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Australia
- Rest of Asia Pacific
LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Companies Profiled
- L'Oreal Group
- Kao Corporation
- Shiseido Company, Limited
- Estee Lauder Companies, Inc.
- LVMH SE (Christian Dior)
- Revlon, Inc. (MacAndrews & Forbes)
- The Procter and Gamble Company
- Coty, Inc. (JAB Cosmetics B.V.)
- Ralph Lauren Corporation
- Chanel S.A.
