Cosmetics & Personal Care Stores Market Size
|Base Year For Estimation||2022|
|CAGR||> 7.00 %|
|Fastest Growing Market||Asia-Pacific|
*Disclaimer: Major Players sorted in no particular order
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Cosmetics & Personal Care Stores Market Analysis
Over the next few years, the global market for cosmetics and personal care stores is expected to register a CAGR of more than 7%. The global cosmetics market was worth USD 93.05 billion in 2022.
Direct-to-consumer (DTC) brands and eCommerce had become a way for sellers to sell their products successfully, and cosmetics and personal care stores started using this method of marketing.
With the advent of COVID-19, people's movement decreased due to restrictions on gatherings. As the reduction in people's movements and functions was made and parties were minimized during the COVID-19 period, businesses of cosmetic and personal care products, which are used in functions by people, observed a decline in sales. Other than this, people started shifting towards low maintenance and a natural look, with more attention being paid to health, leading to a negative impact on store sales.
As the global outlook recovered from COVID-19, consumer behavior observed a change. Instead of full makeup, people now prefer swipes of lipstick, eyecare, perfumes, and powder, leading stores to focus on specific varieties of products, which are observing an increase in sales. Consumer preference either towards skincare or makeup will further define cosmetics and personal care store sales globally.
Cosmetics & Personal Care Stores Market Trends
Changing Consumer Behavior Affecting Global Cosmetics And Personal Care Stores Market
The female population around the world accounts for the majority of the cosmetic store industry's revenue. The youth or college-going population makes up a significant portion of them.A new trend has emerged over the years in which middle-aged men and women are searching for products to make them look young, which leads to firms designing and modifying their products as per consumer needs.
With continuously evolving consumer choice, skincare and private labels are expected to play a bigger role in the cosmetic industry over the coming period. During COVID-19 and its recovery period, people shifted their mode of purchase to online mode through e-commerce, leading to stores making their products available online. In the year 2021, cosmetics and beauty had a share of 17.8% in US e-commerce and were expected to observe continuous growth over the coming years. Revenue from global cosmetics e-commerce observed an increase from USD 24.21 billion in 2019 to a level of USD 33.26 billion in 2022.
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Increasing Attention Towards Wellness Affecting Cosmetics And Personal Care Store Market
As consumers pay more attention to their physical health, better energy, less stress, and a better mood rise to the top as the most important benefits of sleep, overtaking physical benefits. This has led brands across all categories to focus on achieving peak wellness.Good nutrition is linked to good health, so people look for products that will help them look better and feel better about themselves.
Consumers are investing in beauty products as a lifestyle choice rather than due to societal pressure, seeking products that complement their wellness and beauty needs. Concepts of holistic skincare, mindful beauty, and healthy aging are continuously emerging, leading the cosmetic and personal care store market to continuously evolve with consumer needs.
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Cosmetics & Personal Care Stores Industry Overview
As cosmetics and personal care products are part of the daily hygiene of users, the cosmetics and personal care market has been adopted globally, with cosmetics and personal care stores' expanding their sales. The stores have always played an important role in the sale of cosmetics and personal care products and are an important determinant when a company makes changes to its products. Loreal, Unilever, P&G, Estee Lauder, Shiseido, Beiersdorf, LVMH, Kao, Coty, and Johnson & Johnson are among the leading players existing in the global cosmetics and personal care market, with their store chains being located globally.
Cosmetics & Personal Care Stores Market Leaders
*Disclaimer: Major Players sorted in no particular order
Cosmetics & Personal Care Stores Market News
- September 2022: Loreal signed an agreement to acquire Skinbetter, which exists as a physician-dispensed American skincare brand. Loreal exists among the world's leading beauty players with a portfolio of 35 international brands and more than 85,000 employees globally.
- May 2022: Unilever signed an agreement with Nutrafol to acquire a majority stake in the company from an existing share of 13.2%. Nutrafol is a leading provider of hair wellness products. Nutrafol will be operating as a part of Unilever's health and well-being units with brands like OLLY, Liquid I.V., and Onnnit.
Cosmetics & Personal Care Stores Market Report - 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 AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Value Chain Analysis
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Bargaining Power of Buyers
4.5.2 Bargaining Power of Suppliers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Insights of Technology Innovations in the Market
4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.6 Bath & Shower
5.2 By Distribution Channel
5.2.1 Specialist Retail Stores
5.2.3 Convenience Stores
5.2.4 Pharmacies/Drug Stores
5.3 By Region
5.3.1 North America
5.3.3 South America
5.3.4 Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.4 Estee Lauder
6.2.10 Johnson& Johnson
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Cosmetics & Personal Care Stores Market Research FAQs
What is the study period of this market?
The Cosmetics and Personal Care Stores Market is studied from 2018 - 2028.
What is the growth rate of Cosmetics and Personal Care Stores Market?
The Cosmetics and Personal Care Stores Market is growing at a CAGR of >7% over the next 5 years.
Which region has highest growth rate in Cosmetics and Personal Care Stores Market?
Asia-Pacific is growing at the highest CAGR over 2018-2028.
Which region has largest share in Cosmetics and Personal Care Stores Market?
Asia-Pacific holds highest share in 2022.
Who are the key players in Cosmetics and Personal Care Stores Market?
Loreal, Unilever, P&G, Estee Lauder, Shiseido are the major companies operating in Cosmetics and Personal Care Stores Market.
Cosmetics and Personal Care Stores Industry Report
Statistics for the 2023 Cosmetics and Personal Care Stores market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Cosmetics and Personal Care Stores analysis includes a market forecast outlook to for 2023 to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.