Luxury Cosmetics Market Profit margin, sales, market size, key Venders and forecast period 2019-2023
According to a new report published by KD
Market Insights, titled, "Luxury
Cosmetics Market by
Type, Product Type, End User, and Distribution Channel: Global Opportunity
Analysis and Industry Forecast, 2019-2026," the global luxury cosmetics
market size was valued at $52,748.4 million in 2018 and is projected to reach
$81,247.6 million by 2026, registering a CAGR of 5.6% from
2019 to 2026. Luxury cosmetics refer to the cosmetic products, which are used
to cleanse the skin. They are manufactured using premium quality and organic
ingredients, which are priced at a higher end as compared to consumer cosmetic
products. Luxury cosmetics are primarily divided into skincare, haircare,
makeup products, and fragrances, which are manufactured using premium quality
ingredients and sold largely through specialty stores and e-commerce.
The organic products segment in the luxury
cosmetic market is anticipated to exhibit the highest market share during the
forecast period. The global rise in health consciousness among individuals
boosts the demand for organic and natural cosmetic products in various
countries across the globe.
The global luxury cosmetics market is
primarily driven by rise in consumer demand for products manufactured using
naturally derived ingredients as compared to synthetic. In addition, the
increase in use of e-commerce (brand) websites to purchase luxury products,
which are not available in the home country further propels the growth of the
market. Moreover, rise in disposable income in the developing nations has
majorly influenced the cosmetics consumption pattern among individuals in those
regions. In addition, the rise in awareness among consumers regarding halal
cosmetics has to a great extent prompted the market’s growth worldwide.
According to global luxury cosmetics market
analysis, the market is segmented based on type, product type, end user,
distribution channel, and region. By type, it comprises organic and
conventional products. Based on product type, it is classified into skincare,
haircare, makeup and fragrances. By end user, it is bifurcated into male and
female. By distribution channel, it is categorized into
supermarket/hypermarket, e-commerce, specialty/monobrand stores, and others. By
region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings of the Luxury Cosmetics
Market :
- Based on product type, the skincare segment
accounted for the highest share of luxury cosmetics market in 2018, growing at
a CAGR of 5.30% and makeup segment growing fastest with a CAGR of 6.10% between
2019 and 2026.
- Based on type, the conventional segment accounted for about 75% of the global luxury cosmetics market in 2018. However, the organic segment is expected to grow at a CAGR of 7.60% during the forecast period.
- Based on end user, the women segment is accounted for the highest share in luxury cosmetics market in 2018, growing at a CAGR of 5.20% and men segment growing fastest with a CAGR of 6.60% between 2019 to 2026.
- Based on distribution channel, the specialty store segment accounted for about 75% of the global luxury cosmetics market share in 2018. However, the e-commerce segment is expected to grow fastest at a CAGR of 7.50% during the forecast period.
- Based on region, Europe accounted for about 33% of the global luxury cosmetics industry by share and is expected to grow at a CAGR of 3.9%.
- Based on type, the conventional segment accounted for about 75% of the global luxury cosmetics market in 2018. However, the organic segment is expected to grow at a CAGR of 7.60% during the forecast period.
- Based on end user, the women segment is accounted for the highest share in luxury cosmetics market in 2018, growing at a CAGR of 5.20% and men segment growing fastest with a CAGR of 6.60% between 2019 to 2026.
- Based on distribution channel, the specialty store segment accounted for about 75% of the global luxury cosmetics market share in 2018. However, the e-commerce segment is expected to grow fastest at a CAGR of 7.50% during the forecast period.
- Based on region, Europe accounted for about 33% of the global luxury cosmetics industry by share and is expected to grow at a CAGR of 3.9%.
The key players operating in the luxury
cosmetics market are L’Oreal, Shiseido Company, Limited, Christian Dior, Puig,
Coty Inc., Kao Corporation, Revlon, Inc., The Estee Lauder Companies Inc.,
Oriflame Cosmetics AG, and KOSÉ Corporation.
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