Premium Cosmetics Market Size, Share, Sales, Analysis, Forecast, Industry Competition & Player Profiles 2023-2032
Growing demand for premium cosmetics due to newly introduced packaging innovation, and rising natural-ingredient based products, and expansion of the personal care industry in new regions of Asia Pacific region remain key drivers of growth in the premium cosmetics market. Premium cosmetics have witnessed major growth in recent times, despite events like the Covid-19 pandemic. This is largely because personal cosmetics remain a key part of self-esteem, and confidence build-up for individuals. Hence, worsening economic conditions provided an impetus for consumers to cut-down spending on other luxury goods, and increase spending on premium cosmetics. The trend will likely continue as historical forecasts in the market dictate that during economic downturns, cosmetics remain resilient in demand. Moreover, the pandemic, and economic recovery will continue till 2022 end, as new coronavirus strains continue to make their way into the global landscape.
Rising Demand for Premium Natural Ingredients Remains a Key Driver of Growth
The personal cosmetic industry is undergoing major shifts in consumer behaviour. Consumers are increasingly flocking to social media to learn about new products, product information, and gain insight information on best choices. The trend has forced major players like L’Oréal to dedicate large marketing resources to channels like social media influencers. Moreover, the rise in information-based purchases have resulted in demand for more natural-ingredient-based cosmetics, which promise more sustainable future for the premium cosmetics market. The growth in natural-ingredients largely targets anti-aging products, with rising efficacy, and prevention for age-old skincare problems like acne, spots, pigmentation, among others. Growing demand for men-tailored premium cosmetic also remains a major driver for growth, as gender-neutral branding of products, and growth of the grooming industry remain major positives or the premium cosmetics market.
Personalization Remains a Major Prospect for Growth as Digitalization Rises
With the rising digitalization, and technological advancement like virtual make-up rooms, the growth of premium personalized cosmetics remains a major prospect for growth. The demand for personalization caters to several demands including skin-sensitivity, experimentation through online AI tools, and desire to create a unique identity. The demand for personalization is on the rise, also thanks to growing innovation in the packaging industry, enabling personal memorabilia, and gift measures for rising demand of consumers. The trend of rising demand for social media influencers remain a key to growth, as local players continue to find low-barriers to entry in the premium cosmetics market. Moreover, the demand for natural products, and growing experimentation with traditional methods will likely propel premium cosmetics market growth with new niche opportunities.
Beauty Specialist Retailer Remain Key to Consumers in the Premium Cosmetics Market
The rising influx of social media, and subsequent consumer-driven trends remain at the heart of development in the premium cosmetics market. However, despite major changes across the industry, distribution remains firmly in the grip of specialized beauty retailors. The demand for premium-personalized service, information exchange sessions with experts, and high-quality marketing tools remain key opportunity for growth in the premium cosmetics market. The market also continues to witness demand for more attractive positioning with large displays, and comfortable furniture, more experienced customer service members among others.
Major players in the premium cosmetics market include Estee Lauder, L’Oréal, Chanel, and Elizabeth Arden among others. The global landscape of the premium cosmetic market remains oligopolistic in nature, with growth momentum shifting towards more lucrative opportunities for small players.
The Premium Cosmetics market report is segmented as below:
By Product
- Skincare
- Haircare
- Makeup
- Fragrance
By Distribution Channel
- Online
- Offline
By Region
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- Rest of APAC
- South America
- Brazil
- Rest of South America
- Middle East & Africa
- UAE
- South Africa
- Saudi Arabia
- Rest of MEA
- Introduction
- Research Objectives
- Report Assumptions
- Research Methodology
- Abbreviations
- Preface
- Market Definition
- Report Scope and Market Segmentation
- Research Highlights
- Market Synopsis: Global Premium Cosmetics Market
- Global Premium Cosmetics Market Qualitative Analysis
- Ecosystem Analysis
- Role of participants
- Integration scenario
- Trends
- Market trends
- Technology Trends
- PESTLE Analysis (For 5 prominent countries)
- Market Influencers
- Driving Forces
- Hindering Forces
- Opportunities
- COVID-19 impact
- Buyer Preference analysis
- Global brands Vs. Regional brands
- Ecosystem Analysis
- Global Premium Cosmetics Market Analysis and Forecast, by Product Type
- Overview and definitions
- Key segment analysis
- Global Premium Cosmetics Market Estimates (US$ Mn), by Product Type, 2019 – 2032
- Skincare
- Haircare
- Fragrance
- Makeup
- Global Premium Cosmetics Market Analysis and Forecast, by Sales Channel
- Overview and definitions
- Key segment analysis
- Global Premium Cosmetics Market Estimates (US$ Mn), by Sales Channel, 2019 – 2032
- Offline
- Drug/Pharmacy Store
- Department Store
- Mono-brand Store
- Beauty Specialty Store
- Others
- Online
- Offline
- Global Premium Cosmetics Market Analysis and Forecast, by Region
- Overview and definitions
- Key segment analysis
- Global Premium Cosmetics Market Estimates (US$ Mn), by Region, 2019 – 2032
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
- North America Premium Cosmetics Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- North America Premium Cosmetics Market Estimates (US$ Mn), by Product Type, 2019 – 2032
- Skincare
- Haircare
- Fragrance
- Makeup
- North America Premium Cosmetics Market Estimates (US$ Mn), by Sales Channel, 2019 – 2032
- Offline
- Drug/Pharmacy Store
- Department Store
- Mono-brand Store
- Beauty Specialty Store
- Others
- Online
- Offline
- North America Premium Cosmetics Market Estimates (US$ Mn), Country, 2019 – 2032
- The U.S.
- Canada
- Mexico
- Rest of North America
- Europe Premium Cosmetics Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- Europe Premium Cosmetics Market Estimates (US$ Mn), by Product Type, 2019 – 2032
- Skincare
- Haircare
- Fragrance
- Makeup
- Europe Premium Cosmetics Market Estimates (US$ Mn), by Sales Channel, 2019 – 2032
- Offline
- Drug/Pharmacy Store
- Department Store
- Mono-brand Store
- Beauty Specialty Store
- Others
- Online
- Offline
- Europe Premium Cosmetics Market Estimates (US$ Mn), Country, 2019 – 2032
- Germany
- United Kingdom
- Spain
- Italy
- France
- Rest of Europe
- Asia Pacific Premium Cosmetics Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- Asia Pacific Premium Cosmetics Market Estimates (US$ Mn), by Product Type, 2019 – 2032
- Skincare
- Haircare
- Fragrance
- Makeup
- Asia Pacific Premium Cosmetics Market Estimates (US$ Mn), by Sales Channel, 2019 – 2032
- Offline
- Drug/Pharmacy Store
- Department Store
- Mono-brand Store
- Beauty Specialty Store
- Others
- Online
- Offline
- Asia Pacific Premium Cosmetics Market Estimates (US$ Mn), Country, 2019 – 2032
- Japan
- India
- China
- Australia
- Rest of Asia Pacific
- Middle East & Africa Premium Cosmetics Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- Middle East & Africa Premium Cosmetics Market Estimates (US$ Mn), by Product Type, 2019 – 2032
- Skincare
- Haircare
- Fragrance
- Makeup
- Middle East & Africa Premium Cosmetics Market Estimates (US$ Mn), by Sales Channel, 2019 – 2032
- Offline
- Drug/Pharmacy Store
- Department Store
- Mono-brand Store
- Beauty Specialty Store
- Others
- Online
- Offline
- Middle East & Africa Premium Cosmetics Market Estimates (US$ Mn), Country, 2019 – 2032
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East
- South America Premium Cosmetics Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- South America Premium Cosmetics Market Estimates (US$ Mn), by Product Type, 2019 – 2032
- Skincare
- Haircare
- Fragrance
- Makeup
- South America Premium Cosmetics Market Estimates (US$ Mn), by Sales Channel, 2019 – 2032
- Offline
- Drug/Pharmacy Store
- Department Store
- Mono-brand Store
- Beauty Specialty Store
- Others
- Online
- Offline
- South America Premium Cosmetics Market Estimates (US$ Mn), Country, 2019 – 2032
- Brazil
- Rest of South America
- Competition Analysis – Premium Cosmetics Market
- Market Composition
- Brand Share Analysis (%), by Supplier (2022)
- Comparative Analysis
- Company Profiles
- L’Oreal S.A
- Business overview
- Geographic presence
- Product portfolio
- Financial facts
- Channel partners
- Relevant news and strategic view
- Avon Products Inc.
- LVMH
- Estée Lauder
- Elizabeth Arden
- Coty
- Chanel
- Shiseido
- KAO Corporation
- The Procter & Gamble Company (P&G)
- Revlon Inc.
- Oriflame Holding A.G.
- L’Oreal S.A
- Conclusion & Recommendations
Frequently asked questions about this report
What are the major driving factors and opportunities in the premium cosmetics market?
Growing demand for men-tailored premium cosmetic also remains a major driver for growth, as gender-neutral branding of products, and growth of the grooming industry remain major positives or the premium cosmetics market.
How is the regional performance of the market?
Growing demand for premium cosmetics due to newly introduced packaging innovation, and rising natural-ingredient based products, and expansion of the personal care industry in new regions of Asia Pacific region remain key drivers of growth in the premium cosmetics market.
Which are leading players in the premium cosmetics market?
Major participants in the premium cosmetics industry comprise Estee Lauder, L’Oréal, Chanel, and Elizabeth Arden among others.
What is the time duration considered while assessing the market?
The premium cosmetics analysis market has been assessed for the years 2019 to 2032.