This industry research report outlines the market forecast and growth prospects of premium cosmetics until 2019. The research report details the market segmentation by skin care, fragrance, color cosmetics, hair care, sets and kits, Sun care, deodorant, baby care, bath, and shower. The report provides the trend analysis and study of key factors impacting the market shares for Americas, Europe, APAC, and MEA. The leading vendors analyzed by this report are Coty, Chanel, Estee Lauder, KAO Corporation, L’Oreal, LVMH, and Shiseido.
Technavio’s market research analysts estimate the global premium cosmetics market, to grow at a CAGR of 4% between 2015 and 2019. Rising sales of luxury products and growing middle-class aspirational spending is driving the growth of the global premium cosmetics market. The Americas is the largest market for premium cosmetics worldwide, accounting for 35% of the overall market. The US is the key contributing country in the region, accounting for 48% of the overall market revenue.
The new market research report from Technavio provides a breakdown and analysis of the premium cosmetics segments by technology.
“Vendors in the market are constantly coming up with new products in almost all the beauty segments. For instance, Lakmé Absolute is a new line in skin care and premium cosmetics area. Bobbi Brown’s serum foundation SPF 40 is formulated with lychee, bamboo grass, and cordyceps mushroom extracts, which helps in giving healthier and smoother look. Similarly, YSL Fusion Ink Foundation is a combination of sensorial and volatile oils ensures long wear despite heat or humidity,” says Arushi Thakur, Industry Manager, Consumer & Retail, Technavio Research.
Also, customization and personalization continue to play a dominant role in the growth of the market. Personalization of fragrances and skin care products has formed a key part of the premium segment. In addition, manufacturers are targeting their products at the affordable premium segment. Social media and celebrity endorsements have also contributed to the growth of the market
The premium sun care segment is one of the top growing segments in the premium cosmetics market, and it is expected to foresee a positive growth during the forecast period. One of the major drivers for this market is the growing health and wellness trend worldwide.
The key players in the global premium cosmetics market include Coty, Chanel, Estee Lauder, KAO Corporation, L’Oreal, LVMH, and Shiseido. Manufacturers are expanding the luxury segment to cover full spectrum of the cosmetics market, including bath products to nail polishes. Designers such as Marc Jacobs and Tom Ford are extending their presence in the premium beauty segment. For instance, Marc Jacobs has opened a luxury store in Manhattan dedicated solely to fragrances and other cosmetic products. The likes of Gorgio Armani, Michael Kors, and Tory Burch have teamed with the top industry players to set up different product portfolios.
A more detailed analysis is available in the Technavio report, Global Premium Cosmetics Market 2015-2019.
We can customize reports by other regions and specific segments upon request.
Other related reports:
- Global Color Cosmetics Market 2015-2019
- Cosmetics Market in Brazil 2015-2019
- Global Cosmetic and Perfume Glass Bottle Market 2015-2019
- Global Chemicals for Cosmetics and Toiletries Market 2015-2019
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