Global Beauty and Personal Care Products Market By Product(Hair Care, Fragrances, Color Cosmetics, Skin Care and Other Products), By Type(Organic and Conventional), By Distribution Channel(Specialty Stores, E-commerce and Other Distribution Channel), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2023-2032

Beauty and Personal Care Products Market Overview:

Global beauty and personal care products markets were valued at USD 483,900 million in 2021. They are expected to grow at a compound annual rate (CAGR of 7.56%) between 2023 to 2032.

The rising awareness of consumers about their appearance is one of the main factors driving the market growth. The millennial generation is increasingly conscious of their appearance and uses personal care products like skin care, hair care, and color cosmetics as part of their daily grooming routine.

Global Beauty and Personal Care Products Market Scope:

Type Analysis

In 2021, the market share for conventional beauty and personal care was 86%. Segment growth has been driven by their low prices compared to organic versions and easy availability through different distribution channels around the world. Conventional cosmetics often contain high levels of petroleum-based ingredients. This is not only dangerous for the skin if it isn’t properly refined, but can also cause severe damage to wildlife and soils. This could hinder segment growth. On the other hand, the organic market is expected to grow strongly.

Organic cosmetics are made from organic ingredients. They are gentle on the skin, free of cruelty, and help to protect the environment and biodiversity. The adoption of organic cosmetics will be driven by rising consumer awareness about the many benefits. The segment will be boosted by a growing number of companies offering organic beauty and personal care products over the forecast period.

Product Analysis

In 2021, the skincare market accounted for 34.5%. This can be attributed to the increasing popularity of natural and organic cosmetics such as plant extracts, fruit extracts, and herbs. Skincare products have many benefits, including the ability to rejuvenate and protect the skin, reduce the appearance of wrinkles and signs of aging, lighten the spots and keep it healthy and young. These are just a few of the many benefits that skincare continues to enjoy.

Over the forecast period, haircare is expected to grow at a rate of 9.0%. Haircare products can be used to treat hair problems such as frizzy hair and split ends. Segment growth will be driven by the availability of many haircare products such as shampoo, conditioner and hair gel, hair wax and hair serum, as well as hair oil and hair oil in various formats.

Distribution Channel Analysis

Due to the increasing number of specialty stores across the globe, specialty stores had a 36.4% market share in 2021. To pique customers’ interest, these stores offer natural and chemical-free personal care and beauty products. Customers can choose from many brands before purchasing. This segment has seen a significant increase in sales due to the availability of knowledgeable store associates who can help customers choose the best cosmetics for them and give adequate information about the ingredients.
Hypermarkets and supermarkets are popular places to buy beauty and personal care products. They offer a large selection of products under one roof, and they are conveniently located close to residential areas. According to projections, the eCommerce channel will experience the highest CAGR between 2023 to 2032. Segment growth has been fueled by increased internet penetration and targeted marketing by companies to reach wider audiences. This segment will also benefit from the heavy discounts and offers offered by online platforms.

Key Market Segments:

By Product

• Hair Care
• Fragrances
• Color Cosmetics
• Skin Care
• Other Products

By Type

• Organic
• Conventional

By Distribution Channel

• Specialty Stores
• Hypermarkets & Supermarkets
• E-commerce
• Other Distribution Channel

Market Dynamics:

Market growth has been also boosted by the introduction of cosmetics made with non-toxic, natural, and organic ingredients. This market has seen a significant increase in value sales due to its easy availability through a variety of sales channels, such as beauty salons, specialty shops, pharmacies, or pharmacies. Strong growth opportunities are also expected to be provided by the growing focus of male consumers on skin and grooming in order to improve their physical appearance and take care of their skin. Market growth is also expected to be supported by increased investments in research and the development of effective products.

Manufacturers are launching new products and expanding their reach to meet consumer demand for organic, vegan, natural, and sustainable cosmetics. SO’BiO etic (a French socially responsible beauty company) launched an organic beauty line in the U.S. in June 2021 to provide eco-friendly, healthy beauty products. Products by the company do not contain silicones, glycol, parabens, or silicones. Skin side effects can be caused by chemicals in personal and beauty care products. Haircare products containing harsh chemicals can cause hair problems, such as hair loss, premature greying, dry hair, and lackluster hair. The main factor limiting the growth of traditional beauty and personal care products is consumer awareness of the possible side effects of such products. The market’s growth has also been affected by the COVID-19 pandemic.

The COVID-19 pandemic caused disruption in the supply and production of personal care products as well as beauty products. This was made worse by tight restrictions on movement and social distancing. As major markets were locked down, retailers stopped accepting new orders. This also caused a significant drop in commodity sales through both online and offline channels.

Regional Analysis:

Asia Pacific held 39.5% of the global market share in 2021. It is expected to show the fastest growth rate over the forecast period. This can be attributed to the growing number of women working in China and India, as well as their increasing spending and purchasing power for beauty and personal care products.
The region’s growing young population, who have access to the internet, will offer tremendous opportunities for growth over the next few years. The growing preference for natural and vegan cosmetics in Europe is fueling the beauty and personal care product market. Consumers in North America are more willing to pay high prices for cosmetics that improve their physical appearance. This is particularly true for those living in the U.S.A and Canada. These regions will have higher consumer spending power and more prominent players, which will help to drive regional markets.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share Analysis:

This market has many players, both domestic and international. They have been focusing their efforts on innovation and the launch of natural, organic, and vegan beauty products and personal care products. Inryu is an ingestible cosmetics brand created by Shiseido in November 2021. Coty Inc. is a well-known beauty and body care brand.

In September 2021 Kylie Jenner launched Kylie Baby. This gentle, safe, and conscious baby care line was created by Kylie Jenner. These products were only available on the brand’s website direct-to-consumer. Revlon’s iconic beauty brand launched PhotoReady Prime Plus Perfecting + Streamlining Primer in January 2020. This is the first mass cosmetic product to meet the beauty standards set by the Environmental Working Group (EWG).

Key Market Players:

• Coty Inc.
• Unilever
• Shiseido Co., Ltd.
• The Estee Lauder Companies Inc.
• Kao Corporation
• Revlon
• L’Oreal S.A.
• Procter & Gamble
• Avon Products, Inc.
• Other Key Players

For the Beauty and Personal Care Products Market research study, the following years have been considered to estimate the market size: