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Global Cosmetics Products Market to Reach USD 805.61 Billion By 2023

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Global Cosmetics Products Market to Reach USD 805.61 Billion By 2023

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In 2017, the global cosmetics industry’s market value was at USD 532.43 billion. According to the experts at OrbisResearch.com, the industry is expected to achieve a record-breaking value of USD 805.61 by 2023. The scope of the report is limited to specific products commonly used by consumers such as skin care, hair care, oral care, fragrances, soaps, shower gels, color cosmetics, and sun care products. The study also emphasizes the different distribution channels such as pharmacies, direct selling, specialty stores, supermarkets and salons.

Transcrição

  1. 1. Global Cosmetics Products Market to Reach USD 805.61 Billion By 2023 Volumetric Technologies
  2. 2. In 2017, the global cosmetics industry’s market value was at USD 532.43 billion. According to the experts at OrbisResearch.com, the industry is expected to achieve a record-breaking value of USD 805.61 by 2023. The scope of the report is limited to specific products commonly used by consumers such as skin care, hair care, oral care, fragrances, soaps, shower gels, color cosmetics, and sun care products. The study also emphasizes the different distribution channels such as pharmacies, direct selling, specialty stores, supermarkets and salons. Globally, the cosmetics industry is one sector that remains impervious in events of economic downturns. This is due to the growing and continuous usage of beauty products by women and, increasingly, by men all over the world. Aging Population and E-commerce: Major Drivers for the Market Over the past 20 years, declining mortality and fertility rates have led to a rise in the global aging population. This contributed to a strong desire among women and men to retain their youthful appearance. Rapidly aging demographics has resulted to a huge demand for anti-aging products to prevent age spots, wrinkles, uneven skin tone, dry skin and even hair damage.
  3. 3. Multinational companies have also set up websites and brand-specific social media profiles that have led to the popularity of the e-commerce market. Cosmetic products have become more accessible as consumers can order them at the click of a button and have the products shipped to their homes. Future is Bright for the US Personal Care and Cosmetics Industry The personal care and cosmetics industry in the US continues to expand due to the growing middle class and the entry of new consumer groups such as men and babies. The market demand is further supported by a wave of innovation in the formulation and delivery formats ranging from cushion compacts to eye brow kits and face masks. This wave of innovation drives consumers to increase the number of products in their skin care regimens and make-up bags. While many factors are contributing to the success of beauty brands and retailers, it's no surprise that the industry will continue to thrive and hit the expected target by 2023.
  4. 4. Sources: http://www.volumetrictechnologies.com/ https://www.export.gov/article?id=Industry-Focus-Personal-Care-Cosmetics-Products-Part-II https://www.reuters.com/brandfeatures/venture-capital/article?id=30351

Descrição

In 2017, the global cosmetics industry’s market value was at USD 532.43 billion. According to the experts at OrbisResearch.com, the industry is expected to achieve a record-breaking value of USD 805.61 by 2023. The scope of the report is limited to specific products commonly used by consumers such as skin care, hair care, oral care, fragrances, soaps, shower gels, color cosmetics, and sun care products. The study also emphasizes the different distribution channels such as pharmacies, direct selling, specialty stores, supermarkets and salons.

Transcrição

  1. 1. Global Cosmetics Products Market to Reach USD 805.61 Billion By 2023 Volumetric Technologies
  2. 2. In 2017, the global cosmetics industry’s market value was at USD 532.43 billion. According to the experts at OrbisResearch.com, the industry is expected to achieve a record-breaking value of USD 805.61 by 2023. The scope of the report is limited to specific products commonly used by consumers such as skin care, hair care, oral care, fragrances, soaps, shower gels, color cosmetics, and sun care products. The study also emphasizes the different distribution channels such as pharmacies, direct selling, specialty stores, supermarkets and salons. Globally, the cosmetics industry is one sector that remains impervious in events of economic downturns. This is due to the growing and continuous usage of beauty products by women and, increasingly, by men all over the world. Aging Population and E-commerce: Major Drivers for the Market Over the past 20 years, declining mortality and fertility rates have led to a rise in the global aging population. This contributed to a strong desire among women and men to retain their youthful appearance. Rapidly aging demographics has resulted to a huge demand for anti-aging products to prevent age spots, wrinkles, uneven skin tone, dry skin and even hair damage.
  3. 3. Multinational companies have also set up websites and brand-specific social media profiles that have led to the popularity of the e-commerce market. Cosmetic products have become more accessible as consumers can order them at the click of a button and have the products shipped to their homes. Future is Bright for the US Personal Care and Cosmetics Industry The personal care and cosmetics industry in the US continues to expand due to the growing middle class and the entry of new consumer groups such as men and babies. The market demand is further supported by a wave of innovation in the formulation and delivery formats ranging from cushion compacts to eye brow kits and face masks. This wave of innovation drives consumers to increase the number of products in their skin care regimens and make-up bags. While many factors are contributing to the success of beauty brands and retailers, it's no surprise that the industry will continue to thrive and hit the expected target by 2023.
  4. 4. Sources: http://www.volumetrictechnologies.com/ https://www.export.gov/article?id=Industry-Focus-Personal-Care-Cosmetics-Products-Part-II https://www.reuters.com/brandfeatures/venture-capital/article?id=30351

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