Published: Feb-2020
Pages:398
Table:111
Figure:315
Report ID:UMCG20106
Global Beauty & Personal Care market was valued at US$ 500.8 billion in 2019 and is anticipated to reach US$ 684.9 billion by 2026 displaying CAGR growth of 4.67% over the forecast period (2020-2026). Beauty and Personal Care products are used to care for and clean the human body and make it more beautiful. The main goal of such products is to maintain the body in good condition, protect it from adverse effects of the environment and the aging process, change the appearance and make the body smell nicer. These preparations are applied for cleansing, coloring, conditioning or protecting skin, hair, nails, lips, eyes or teeth. Rapid aging demographics has enhanced to powerful interest against maturing items focusing on the end goal against wrinkles, dry skin, age spots, even hair harms, and uneven skin tone making space for new advancements in beautifying agents, are the main factors driving the global beauty and personal care products market. Growth in the beauty and personal care industry reached a decade high last year and is expected to continue unabated post-2019 as well, facilitated by new models of aspiration such as self-optimization and tailored experiences. Further, increasing the popularity of men’s grooming products is likely to drive the market owing to growing awareness among men regarding appearance, health, and wellness. By 2024, the global male grooming market is estimated to be worth US$ 81.2 billion. There has been a pivotal shift in male pampering culture during the last decade. Men have now started spending on a wide range of personal grooming products, such as deodorants, skin and hair care products, and bath and shower products. Also, developing inclination for natural and organic personal care (NOPC) products, expanding appropriation of Augmented Reality (AR) in the excellence business, developing need for anti-aging products, and expanding fame of men's prepping products are a portion of the key factors that are relied upon to drive the market over the conjecture time frame.
Beauty and Personal Care Market Scale by Country Per Capita GDP, and Median Age
Insights Presented in the Report
“Personal care products dominated the beauty and personal care market in 2019, accounting for 43.5% share”
Based on product category, the global beauty and personal care market is fragmented into Color Cosmetics (Face care, Lip care, Eyecare, Nail care and others), Skin Care (Face care, Body care, Sun Protection, Baby & Child products), Personal Care (Hair Care, Oral Care, Deodorants, Shaving Others (Showers & Bath)), and Fragrances. These products are intended for placement in contact with any external part of the human body, with a view to altering the odors of the body; or changing its appearance or maintaining it in good condition.
“Demand for Inorganic beauty and personal care products dominated the market”
Based on the source, the global beauty and personal care market is segmented into organic and inorganic. In 2019, the inorganic product segment generated revenue of US$ 364.3 billion, however, demand for organic beauty and personal care products is expected to witness the highest CAGR growth of 5.38% during the forecast period (2020-2026). The market is anticipated to tread along a healthy growth track owing to the rising preference for natural and organic personal care (NOPC) products. There is developing mindfulness with respect to the advantages of organic makeup over the world.
“Amongst product class, mass products dominated the market with 75.2% share in 2019”
Based on product class the market is segmented into mass and premium products. Beauty and personal care market growth peaked at its highest level since the last decade. As consumers are always willing to try new products, it has been observed that consumers are satisfied with the products they currently use and are available today.
“Hypermarkets was the most preferred sales channel for purchasing beauty and personal care products”
Based on the distribution channel, the market is segmented into convenience stores, hypermarket/supermarket, pharmacies/drug stores, and online retail channels. In 2019, the Pharmacies/Drug Stores segment generated revenue of US$ 55.36 billion. However, online retail channels are poised to witness the highest CAGR growth of 5.8% during the analyzed period.
“Asia-Pacific was the largest market for beauty and personal care market, accounting for 34.9% share in 2019”
For a better understanding of the market dynamics of the beauty and personal care market, a detailed analysis was conducted for different regions/countries across the globe. Major region/county analyzed in the study includes North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Russia and Rest of Europe), Asia-Pacific (China, Japan, India, Indonesia, Thailand and Rest of Asia-Pacific), MENA (UAE, Saudi Arabia and Rest of MENA) and Rest of the World (Argentina, Brazil and Other). Asia-Pacific beauty and personal care sector is expected to generate revenue of US$ 252.3 billion by 2026.
Competitive Landscape -Top 10 Market Players
Some of the major players operating in the global beauty and personal care market include P&G, Unilever, Colgate-Palmolive, Estee Lauder, Johnson & Johnson, Coty, Shiseido, Beiersdorf, Oriflame Cosmetics SA and Revlon. These players have established their market presence over the decade in the industry with major growth strategy including product launches, market expansion, a partnership among others. The industry has also witnessed the emergence of several start-ups over the past few years, majorly in the Asia-Pacific and American regions.
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Analyzing the historical market, estimation of the current market and forecasting the future market for beauty and personal care products were the three major steps undertaken to create and analyze the overall sales trend of beauty and personal care products across the globe. Exhaustive secondary research was conducted to collect the historical market numbers, to estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were conducted with industry experts across the value chain of the beauty and personal care industry. Post assumption and validation of market numbers through primary interviews, a bottom-up approach was employed to forecast the complete market size of beauty and personal care products at the global level. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the beauty and personal care market through company internal sources such as annual report & financial statements, performance presentations, press releases, inventory records, sales figures, etc., and external sources including trade journals, news & articles, government publications, economic data, competitor publications, sector reports, regulatory bodies publications, safety standard organizations, third-party database and other credible publications. For economic data collection, sources such as Trading Economics and Trade Map, World Bank, IMF, FAO among others were used.
Step 2: Market Segmentation:
After obtaining the historical market size of the beauty and personal care market, a detailed secondary analysis was conducted to gather historical market insights and share for different segments & sub-segments. Major segments included in the report are product category, product sub-category, source, product class and distribution channel. Further analysis was also conducted for the different regions to analyze the overall adoption of the beauty and personal care products in a different region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, detailed factor analysis was conducted to estimate the current market size of the beauty and personal care market. Factor analysis was conducted using dependent and independent variables such as increasing health-conscious customers, purchasing power and consumer behavior, towards the adoption of organic products etc. The demand and supply-side scenario were also thoroughly studied by considering top partnerships, top merger and acquisition, top business expansion, top product launches and analyzing the list of start-ups in the beauty and personal care industry globally.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at current market size, key players and market share. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weightage was assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e. bottom-up approach was applied to arrive at the market forecast pertaining to 2026 for the different segments and sub-segments in major regions/countries globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) in major region/country. Primary research findings were summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment pertaining to the beauty and personal care market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product category, product sub-category, source, product class and distribution channel.
Main objective of the Agriculture Drone Study
The current & future market trends of beauty and personal care products are pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
Analyzing the historical market, estimation of the current market and forecasting the future market for beauty and personal care products were the three major steps undertaken to create and analyze the overall sales trend of beauty and personal care products across the globe. Exhaustive secondary research was conducted to collect the historical market numbers, to estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were conducted with industry experts across the value chain of the beauty and personal care industry. Post assumption and validation of market numbers through primary interviews, a bottom-up approach was employed to forecast the complete market size of beauty and personal care products at the global level. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the beauty and personal care market through company internal sources such as annual report & financial statements, performance presentations, press releases, inventory records, sales figures, etc., and external sources including trade journals, news & articles, government publications, economic data, competitor publications, sector reports, regulatory bodies publications, safety standard organizations, third-party database and other credible publications. For economic data collection, sources such as Trading Economics and Trade Map, World Bank, IMF, FAO among others were used.
Step 2: Market Segmentation:
After obtaining the historical market size of the beauty and personal care market, a detailed secondary analysis was conducted to gather historical market insights and share for different segments & sub-segments. Major segments included in the report are product category, product sub-category, source, product class and distribution channel. Further analysis was also conducted for the different regions to analyze the overall adoption of the beauty and personal care products in a different region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, detailed factor analysis was conducted to estimate the current market size of the beauty and personal care market. Factor analysis was conducted using dependent and independent variables such as increasing health-conscious customers, purchasing power and consumer behavior, towards the adoption of organic products etc. The demand and supply-side scenario were also thoroughly studied by considering top partnerships, top merger and acquisition, top business expansion, top product launches and analyzing the list of start-ups in the beauty and personal care industry globally.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at current market size, key players and market share. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weightage was assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e. bottom-up approach was applied to arrive at the market forecast pertaining to 2026 for the different segments and sub-segments in major regions/countries globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) in major region/country. Primary research findings were summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment pertaining to the beauty and personal care market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product category, product sub-category, source, product class and distribution channel.
Main objective of the Agriculture Drone Study
The current & future market trends of beauty and personal care products are pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include: