Premium Cosmetics Market: Forecasts and Analysis

 Global demand for premium cosmetics has reached a market value of US$ 125.1 billion in 2023 and is predicted to increase rapidly at 7.6% CAGR over the next ten years. By 2033-end, the global premium cosmetics market is forecasted to increase to a size of US$ 261 billion.

Increasing aesthetic awareness among the general population has to led a substantial rise in demand for cosmetic and personal care products around the world, which is a primary factor for surging premium cosmetics demand. Growing awareness regarding the benefits associated with premium ingredients and the rising disposable income of people are also expected to boost sales of premium cosmetics in the future.

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Rapid urbanization and digitization are also playing a crucial role in propelling the shipments of premium cosmetics at the moment and the increasing influence of social media is also projected to favour market development in the long run. The surging popularity of anti-aging products, adoption of skincare routines by an increasing number of people, high investments in R&D of novel luxury beauty products, and frequent launches of new luxury cosmetics are other prospects that are slated to promulgate premium cosmetics sales through 2033.

Competitive Landscape:

Top-tier premium cosmetics suppliers are also penning agreements new agreements to acquire and merge with new companies to expand their business scope and enlarge their share in the global landscape.

  • In January 2022, Beiersdorf, a leading manufacturer and retailer of personal care products, announced that it had acquired Chantecaille, a premium cosmetics business founded in 1997. This acquisition strengthened Beiersdorf’s luxury skincare portfolio and enhanced its position in the global competitive landscape.

Additional new developments by leading premium cosmetics vendors have been listed and discussed in this latest Fact.MR research study.

Key Segments of Premium Cosmetics Industry Research:

·         By Product Type :

o    Skincare

o    Hair Care

o    Makeup

o    Fragrance

o    Others

·         By Distribution Channel:

o    Online

o    Offline

·         By Region:

o    North America

o    Latin America

o    Europe

o    APAC

o    MEA

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Key Questions Covered in the Premium Cosmetics Market Report

  • What will be the estimated size of the Market in 2023?
  • At what rate will sales in the global Premium Cosmetics grow until 2033?
  • Which are the factors hampering the Premium Cosmetics market?
  • Which region will spearhead the growth in the global industry during 2023-2033?
  • Which are the factors driving demand in the Premium Cosmetics during the forecast period?

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