Luxury Cosmetics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Luxury Cosmetics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global luxury cosmetics market size reached US$ 50.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 67.6 Billion by 2028, exhibiting a growth rate (CAGR) of 4.9% during 2023-2028.

Luxury cosmetics are manufactured using premium ingredients and they are widely available in sophisticated packaging. They comprise skincare, haircare, makeup products and fragrances that are sold at a higher price as compared to the drugstore cosmetics. They offer high-end quality, consistency and longevity, which have a noticeable effect on the skin. Some of the variants can effectively clean the top layer of the skin without causing damage and aid in preventing negative environmental impact.

Luxury Cosmetics Market Trends:

Due to a rise in the disposable income levels of individuals, especially in developing regions, there is an increase in the demand for luxury cosmetics. This, along with the growing awareness about the benefits of using luxury cosmetics, represents one of the key factors driving the market. Additionally, there is a rise in the penetration of the internet, which has resulted in the expansion of the e-commerce industry across the globe. This, coupled with the wide availability of luxury cosmetics through online and offline distribution channels, is propelling the growth of the market. Moreover, the escalating demand for halal cosmetics among consumers due to the presence of powerful actives and proven vegan ingredients is positively influencing the market. Besides this, the rising utilization of luxury cosmetics to solve hair and skin related problems, such as hair fall, dandruff, skin rashes, and acne, is offering lucrative growth opportunities to industry investors. Apart from this, key market players are extensively investing in research and development (R&D) activities to introduce anti-aging cosmetics, fragrances, and oral care products, which is catalyzing the demand for luxury cosmetics. Furthermore, the escalating demand for high-performing color cosmetic products among fashion professionals is bolstering the growth of the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global luxury cosmetics market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type, type, distribution channel and end user.

Breakup by Product Type:

Skincare

Haircare

Makeup

Fragrances

Breakup by Type:

Organic

Conventional

Breakup by Distribution Channel:

Supermarkets and Hypermarkets

Specialty and Monobrand Stores

Online Stores

Others

Breakup by End User:

Male

Female

Breakup by Region:

North America

United States

Canada

Asia-Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Avon Products Inc. (Natura & Co.), Coty Inc., Estée Lauder Companies Inc., Kao Corporation, Kosé Corporation, L'Oréal S.A., LVMH Moët Hennessy Louis Vuitton, Oriflame Cosmetics AG, Puig, Revlon Inc., Shiseido Company Limited and Tatcha LLC.

Key Questions Answered in This Report

1. What was the size of the global luxury cosmetics market in 2022?

2. What is the expected growth rate of the global luxury cosmetics market during 2023-2028?

3. What has been the impact of COVID-19 on the global luxury cosmetics market?

4. What are the key factors driving the global luxury cosmetics market?

5. What is the breakup of the global luxury cosmetics market based on the product type?

6. What is the breakup of the global luxury cosmetics market based on the type?

7. What is the breakup of the global luxury cosmetics market based on the distribution channel?

8. What is the breakup of the global luxury cosmetics market based on the end user?

9. What are the key regions in the global luxury cosmetics market?

10. Who are the key players/companies in the global luxury cosmetics market?