The global cosmetics market has been the ever-evolving landscape of the consumer and retail industry that has now grown into a multi-hundred-billion-dollar business. The beauty industry has seen significant changes over the past several years, thanks to rapidly shifting consumer preferences and their lifestyles, and consistent innovations from cosmetics companies. The personal products is also witnessing a growing demand for anti-fatigue cosmetics. Owing to these factors, the global premium cosmetics market is expected to increase more than USD 44.2 billion in market size between 2020-2024, accelerating at a CAGR of 6% during the forecast period.
The cosmetics market today is witnessing a boom in the use of natural and organic ingredients in cosmetics products. This emerging cosmetics industry trend caters to the growing demand for organic or natural cosmetic products among consumers, owing to growing awareness regarding health and wellness issues of using harmful cosmetics. This shift in consumer preference for organic ingredients is extremely evident within numerous cosmetics industry segments. For instance, the global organic personal care product market is expected to increase USD 6.46 billion in market size by 2024, accelerating at a CAGR of 8%, while the market for organic skincare products also is growing at a similar pace, owing to the demand for multifunctional organic skincare products.
For more insights on the Cosmetics Mаrkеt Trеndѕ, Growth Oрроrtunіtіеs, and the Growth Potential of sub-markets
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Within our cosmetics industry research, we provide deep insights into the market landscape, its segments, and their market share. Our research experts segment this market by hair products, skincare products, color cosmetics, and fragrances.
Our cosmetics market segmentation research offerings include:
We at Technavio, with our comprehensive understanding of the cosmetics market, have been monitoring the latest industry trends and developments to create an in-depth portfolio of market research reports. These reports help our clients identify opportunities within the market and develop effective strategies to optimize their market positions. Our cosmetics market reports offer the following insights: