Premium Cosmetics Market Analysis Highlights the Impact of COVID-19 2020–2024 | Innovation And Portfolio Extension to Boost the Market Growth | Technavio
Technavio has been monitoring the premium cosmetics market and it is poised to grow by USD 44.2 bn during 2020–2024, progressing at a CAGR of almost 6% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report on COVID-19 Impacts
Frequently Asked Questions:
- What are the major trends in the market?
Increased demand for premium skincare products is a major trend driving the growth of the market. - At what rate is the market projected to grow?
The year-over-year growth for 2020 is estimated at 14.25% and the incremental growth of the market is anticipated to be USD 44.2 bn. - Who are the top players in the market?
Amway Corp., Beiersdorf AG, Coty Inc., L’Oréal SA, LVMH Moët Hennessy Louis Vuitton, Natura &Co., Revlon Inc., Shiseido Co. Ltd., The Estée Lauder Co. Inc., and The Procter and Gamble Co, are some of the major market participants - What is the key market driver?
The innovation and portfolio extension is the major factor driving the growth of the market - How big is the APAC market?
The APAC region will contribute 36% of the market share
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Amway Corp., Beiersdorf AG, Coty Inc., L’Oréal SA, LVMH Moët Hennessy Louis Vuitton, Natura &Co., Revlon Inc., Shiseido Co. Ltd., The Estée Lauder Co. Inc., and The Procter and Gamble Co. are some of the major market participants. The innovation and portfolio extension will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Premium Cosmetics Market 2020–2024: Segmentation
Premium Cosmetics Market is segmented as below:
- Distribution channel
- Product
- Geography
- Offline
- Online
- Skincare Products
- Fragrances
- Color Cosmetics
- Hair Care Products
- Others
- Europe
- APAC
- North America
- South America
- MEA
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR41130
Premium Cosmetics Market 2020–2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The premium cosmetics market report covers the following areas:
- Premium Cosmetics Market Size
- Premium Cosmetics Market Trends
- Premium Cosmetics Market Industry Analysis
This study identifies increased demand for premium skincare products as one of the prime reasons driving the premium cosmetics market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
