|Study Period:||2016 - 2026|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
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The beauty and personal care products market was valued at USD 434.85 billion in 2020, and it is projected to register a CAGR of 4.35% during the forecast period, 2021-2026.
A major issue faced by the manufacturers during the COVID-19 situation was the disrupted supply chains, especially for cosmetics, for during the lockdown, countries closed their borders or raised trade barriers. As a result, manufacturers and exporters were facing high competition to export their goods. Furthermore, the on-premise sales through supermarkets and convenience stores witnessed a decline due to the subsequent lockdowns and the closure of retail stores, as individuals have been practicing social distancing measures and avoiding gatherings and outings. However, the sales through online retail channels majorly supported the market penetration.
The improving quality of life, the positive effects of beauty and personal care on self-esteem and social interaction, and the gradual consumer shift toward premium and luxury cosmetic brands are a few factors that are likely to propel the market growth during the forecast period.
The increasing dental problems among children and adults due to poor eating habits and the rise in the popularity of herbal oral care products drive the oral care products market globally. Moreover, the rising premiumization and the consumers’ need for more targeted solutions are accelerating the market's growth. The rise in oral health-consciousness helped vendors introduce oral hygiene product categories, such as teeth-whitening products.
With the growing demand for organic ingredients, consumers across the world are inclined toward organic personal care products, which is expected to drive market growth during the study period. Furthermore, the rising awareness about the harmful effects of chemicals and synthetic products is another factor augmenting the growth of the market. Most of the consumers tend to buy products with natural or organic labeling, which is driving the market growth.
Scope of the Report
Beauty and personal care is an art field that addresses the looks and health of someone's hair, nails, and skin. The market studied is segmented by type, category, and distribution channel. By type, the market studied is segmented into personal care products and cosmetic and make-up products. The personal care products segment is further segmented into hair care products, skincare products, bath and shower products, oral care products, men's grooming products, and deodorants and antiperspirants. The cosmetics/make-up products segment is further segmented into facial cosmetic, eye cosmetic products, and lip and nail make-up products. By category, the market studied is segmented into premium and mass products. By distribution channel, the market studied is segmented into specialist retailers, hypermarkets/supermarkets, online retail channels, convenience stores, and other distribution channels. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle-East and Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD billion).
|By Product Type|
|By Distribution Channel|
|Specialist Retail Stores|
|Online Retail Channels|
|Other Distribution Channels|
Key Market Trends
Deterring Oral Health Among the Population Globally
The rapidly changing lifestyles and improper diets, including sugar-rich diets and the increased consumption of alcohol and tobacco, have made oral health one of the major public health problems in almost every part of the world. According to the World Health Organization, oral diseases pose a major issue for many countries and affect people throughout their lifetime, causing pain, discomfort, disfigurement, and even death. The Global Burden of Disease Study 2017 estimated that oral diseases affect close to 3.5 billion people worldwide, with caries of permanent teeth being the most common condition. Moreover, with the increased expenditure on oral healthcare, consumers across the world started taking preventive measures, which increased the demand for effective oral care products. For instance, according to the US National Library of Medicine’s National Institutes of Health, the spending for dental care increased from approximately USD 2 billion in 1960 to USD 117.5 billion in 2015. Thus, consumers across the world pay immense attention to maintaining their oral health, which led to an increase in the demand for oral care products worldwide. Some of the factors that influence the choice from the customers’ point of view are the perceived performance, brand awareness, product attributes, the credibility of the company, and availability of product information.
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Asia-Pacific Emerges as the Fastest Growing Region
In the Asia-Pacific region, countries, like China, India, and Vietnam present considerable growth opportunities for the market players, primarily due to the growing millennial population. Amid the growing prevalence of hair thinning, loss of volume, dryness, and several other hair-related concerns among consumers, hair care products are emerging as the most affluent and cost-effective way. Unilever retained its market leadership in India, aided by the strong performance of its flagship brands, such as Dove and Sunsilk, while Patanjali Ayurved recorded the fastest growth rate in terms of sales in 2019.
Furthermore, high awareness regarding cosmetics products, such as facial makeup and hairstyling and coloring products, is expected to drive the market’s growth in the near future. The demand for multifunctional products drives innovation, as price-conscious consumers opt for products that provide hydration and skin protection. Companies are constantly advertising cosmetics that provide medicinal benefits, especially on social networking sites, such as Facebook, Twitter, YouTube, and Instagram, where beauty bloggers are very popular. Some of the major key players in the beauty and personal care products market in Asia- Pacific are Avon Products, Inc., Beiersdorf AG, L'Oreal Group, Procter & Gamble, The Estée Lauder Companies Inc., and Unilever, among others.
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The global beauty and personal care market is highly competitive, with a strong presence of regional and global players in the market, where demand is mostly driven by more adaptation toward skincare routines and consumer awareness about brand know-hows. The most active companies in the market include key players, like Procter & Gamble, Unilever, L'Oréal SA, Beiersdorf AG, and The Estée Lauder Inc. L'Oréal SA is one of the most active companies, with numerous brand offerings and a broad range of beauty and skincare products across the region.
The company has spent considerably on improving quality and product innovation in terms of ingredients, functionality, and packaging. The key players are embarking on merger and acquisition and product innovation as their key strategies to achieve consolidation and optimize offerings. Moreover, these players merge with local players to gain dominance in the local markets. The acquisition is expected to give Unilever a leading position in oral care within the French pharmacy channel and strong positions in Spain.
- In May 2020, with stores closed, M·A·C Cosmetics expanded AR (Augmented Reality) try-on for its e-commerce website. Its AR try-on tool comes at a time when shopping habits and the retail environment continue to change post-COVID-19 shutdowns. The company is hoping that its AR-play will be used as an omnichannel tool moving forward. The tool is available for lip and eye products, and the company is expanding the feature to its other range of products.
- In July 2019, Procter & Gamble Co. launched a new line of hair care products under the brand “My Black Beautiful” in Europe. The products include its hydrating sulfate-free shampoo, fortifying conditioner, and Tangle Slayer conditioning creams (two variants).
- In April 2019, Unilever acquired the Fluocaril and Parogencyl oral care brands from Procter & Gamble. Fluocaril and Parogencyl are well-known therapeutics brands sold in pharmacies, primarily in France and Spain.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitutes
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Personal Care Products
18.104.22.168 Hair Care Products
22.214.171.124.3 Hair Oil
126.96.36.199.4 Hair Styling and Coloring Products
188.8.131.52.5 Other Hair Care Products
184.108.40.206 Skin Care Products
220.127.116.11.1 Facial Care Products
18.104.22.168.2 Body Care Products
22.214.171.124.3 Lip Care Products
126.96.36.199 Bath and Shower
188.8.131.52.1 Shower Gels
184.108.40.206.3 Bath Salts
220.127.116.11.4 Other Bath and Shower Products
18.104.22.168 Oral Care
22.214.171.124.1 Toothbrushes and Replacements
126.96.36.199.3 Mouthwashes and Rinses
188.8.131.52.4 Other Oral Care Products
184.108.40.206 Men's Grooming Products
220.127.116.11 Deodorants and Antiperspirants
5.1.2 Cosmetics/Make-up Products
18.104.22.168 Facial Cosmetics
22.214.171.124 Eye Cosmetic Products
126.96.36.199 Lip and Nail Make-up Products
5.2 By Distribution Channel
5.2.1 Specialist Retail Stores
5.2.3 Convenience Stores
5.2.4 Pharmacies/Drug Stores
5.2.5 Online Retail Channels
5.2.6 Other Distribution Channels
5.3 By Category
5.4 By Geography
5.4.1 North America
188.8.131.52 United States
184.108.40.206 Rest of North America
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
22.214.171.124 Rest of Asia-Pacific
5.4.4 South America
126.96.36.199 Rest of South America
5.4.5 Middle-East and Africa
188.8.131.52 South Africa
184.108.40.206 United Arab Emirates
220.127.116.11 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 L'Oreal SA
6.4.2 Procter & Gamble Co.
6.4.3 Unilever PLC
6.4.4 Colgate-Palmolive Company
6.4.5 The Estee Lauder Inc.
6.4.6 Natura & Co.
6.4.7 Johnson & Johnson Inc.
6.4.8 Beiersdorf AG
6.4.9 Shiseido Company Limited
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Beauty and Personal Care Products Market market is studied from 2016 - 2026.
What is the growth rate of Beauty and Personal Care Products Market?
The Beauty and Personal Care Products Market is growing at a CAGR of 4.35% over the next 5 years.
Which region has highest growth rate in Beauty and Personal Care Products Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Beauty and Personal Care Products Market?
North America holds highest share in 2021.
Who are the key players in Beauty and Personal Care Products Market?
The Estée Lauder Companies Inc., The Procter & Gamble Company, L'Oreal SA, Unilever, Colgate-Palmolive Company are the major companies operating in Beauty and Personal Care Products Market.