According to the survey, demand for luxury beauty and personal care products is predicted to rise over the next ten years as people become more aware of their personal health and cleanliness, as well as their discretionary cash.
According to an updated research analysis on the worldwide premium beauty and personal care products market, the sector is expected to grow at a CAGR of over 6% over the next decade, reaching a worth of US$ 100 billion by 2031. Fact.MR analysts examined the market in depth and developed a complete assessment of the different aspects that drive market growth potential, predicting that North America and Europe would continue to be attractive regional markets.
Key Segments Covered in Premium Beauty and Personal Care Products Industry Survey:
By Product Type:
- Premium Skincare
- Premium Fragrances
- Premium Colour Cosmetics
- Premium Haircare
By Sales Channel:
- Hypermarkets/Super Markets
- Retail Chains
Manufacturers are focusing on super premium beauty and personal care products due to their increasing popularity and demand around the world.
The popular Pure Retinol Collection was recently created by No7 Beauty Company, a new beauty company. The product is aimed for customers who desire goods that are both mild and effective.
The Ordinary, a well-known cosmetics and skincare brand, made three products accessible in-store at Sephora Europe locations in September 2021. These best-selling items were previously only accessible online, but with this shift, they will be readily available at Sephora stores around Europe.
Jupiter Capital, a private equity firm, has just revealed its intention to enter the beauty and wellness industry.
What is the regional analysis of high-end cosmetics and personal care items?
More than half of the global market for premium cosmetics and personal care products is accounted for by North America and Europe. The market for premium beauty and personal care products in these regions is predicted to grow significantly over the next decade, thanks to new product introductions and rising demand.
Due to rising disposable income and a growing taste for luxury items in the personal and beauty arena, the APAC region is likely to have the highest rise in terms of demand.
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