Market Size of Cosmetics and Personal Care Stores Industry
|2019 - 2029
|Base Year For Estimation
|CAGR (2024 - 2029)
|> 7.00 %
|Fastest Growing Market
*Disclaimer: Major Players sorted in no particular order
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Cosmetics & Personal Care Stores Market Analysis
The Cosmetics and Personal Care Stores Market is expected to register a CAGR of greater than 7% during the forecast period(2024-2029).
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.