Global Premium Cosmetics Market Size study & Forecast, by Product (Skincare, Haircare, Makeup, Fragrance, Others), by Distribution Channel (Online, Offline) and Regional Analysis, 2023-2030

Global Premium Cosmetics Market Size study & Forecast, by Product (Skincare, Haircare, Makeup, Fragrance, Others), by Distribution Channel (Online, Offline) and Regional Analysis, 2023-2030

Global Premium Cosmetics Market is valued at approximately USD 159.92 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 7.6% over the forecast period 2023-2030. Premium cosmetics prioritize the use of high-quality and carefully selected ingredients. These ingredients are often sourced from reputable suppliers and undergo rigorous testing to ensure efficacy and safety. Premium brands also incorporate innovative or specialized ingredients known for their unique properties or benefits. The Premium Cosmetics market is expanding because of factors such as increasing demand for anti-aging products and rising disposable income. Premium cosmetics typically feature advanced formulations and utilize cutting-edge technologies. These formulations are often developed to provide enhanced performance, long-lasting wear, superior texture, and improved skin compatibility. Its importance has progressively increased during the forecast period 2023-2030.

Anti-aging products cater to discerning consumers who prioritize quality, efficacy, and luxury in their skincare routines by offering advanced formulations, cutting-edge ingredients, and sophisticated packaging, anti-aging products contribute significantly to the allure of premium cosmetics. According to Statista, in 2021, The global anti-aging market was predicted to be worth approximately USD 62.6 billion. Between 2022 and 2027, the anti-aging industry is expected to increase at a compound annual growth rate of approximately 7%. Furthermore, the global skincare market is estimated to be USD 189.3 billion by 2025. Another important factor that drives the Premium Cosmetics market is rising disposable income. Disposable income allows individuals to allocate a portion of their budget towards purchasing premium cosmetics without compromising on their essential needs. As a result, they can enjoy the benefits of using high-end beauty products and prioritize self-care and luxury experiences. In addition, as per Statista, Americans had a total of USD 15.13 trillion in disposable personal income in 2021. Moreover, the rising demand for organic and natural color cosmetics and the growing demand for cosmetics from men are anticipated to create lucrative growth opportunities for the market over the forecast period. However, the presence of counterfeit products and the high cost of premium cosmetics products stifle market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Premium Cosmetics Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to the rising disposable income of the middle-class population and the high demand for premium cosmetics and long-lasting makeup in the region. North America is expected to grow significantly over the forecast period, owing to the increasing presence of many key market players and growth of the men’s grooming industry is also supporting the demand for premium cosmetics dedicated to men in the region.

Major market player included in this report are:
Coty Inc
The Estée Lauder Companies Inc.
L’Oréal S.A.
LVMH Moët Hennessy Louis Vuitton SE
Shiseido Company, Limited
Chanel S.A.
Parfums Christian Dior
Elizabeth Arden, Inc.
Kao Corporation
The Procter & Gamble Company

Recent Developments in the Market:
 In August 2022, Stella McCartney launched STELLA by Stella McCartney, her new skincare line, in collaboration with the LVMH Beauty division. Stella McCartney and Collaborative Fund, a venture capital business, collaborated to create a USD 200 million sustainability funds. It has also been sold in several UK stores and boutiques, including Stella McCartney's UK flagship store.

Global Premium Cosmetics Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered - Product, Distribution Channel, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Product
Skincare
Haircare
Makeup
Fragrance
Others

By Distribution Channel
Online
Offline

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
Coty Inc
The Estée Lauder Companies Inc.
L’Oréal S.A.
LVMH Moët Hennessy Louis Vuitton SE
Shiseido Company, Limited
Chanel S.A.
Parfums Christian Dior
Elizabeth Arden, Inc.
Kao Corporation
The Procter & Gamble Company

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