Switzerland Cosmetics Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

Switzerland Cosmetics Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The Switzerland Cosmetics Market size is expected to grow from USD 357.32 million in 2023 to USD 405.26 million by 2028, at a CAGR of 2.55% during the forecast period (2023-2028).

Key Highlights

• Switzerland is one of the largest cosmetics product markets due to the consumer consciousness about appearance. Millennials in the country increasingly use cosmetics such as foundation, blush, lipsticks, and eye shadow as part of their regular grooming routine. Meanwhile, the packaging design of cosmetic products is considered a branding tool in the cosmetic industry, which attracts consumers and persuades them to buy the product.
• As cosmetics have become an integral part of individuals' lives, consumers in the country prefer to use cosmetics products in convenient packaging designs to carry everywhere. As a result, key players in the market are offering cosmetic products in convenient packaging to attract a large base of consumers.
• Moreover, the emergence of cosmetics with natural, non-toxic, and organic components has also aided market expansion. Thus, the increasing demand for natural, organic, no animal testing, cruelty-free cosmetic products, and innovative and eco-friendly packaging designs are expected to further enhance the market in the market studied. Thus, manufacturers are collaborating with other players to expand their portfolio in the natural cosmetic category.

Switzerland Cosmetics Market Trends

Increasing Demand for Natural and Organic Beauty Products

• With the changing lifestyle of consumers, the preference for a healthier lifestyle has been made a priority in an individual's life. Consumers prefer the use of several cosmetics that are formulated using organic and natural ingredients, as natural cosmetic products have anti-oxidant which help to reduce oxidative damage in the skin.
• The growing trend of organic cosmetic products across the country and their positive effect on the skin supports the consumer inclination toward natural products from chemical-based cosmetics is further driving the sale of organic and natural beauty products.
• A high percentage of Swiss consumers choose one brand over others based on its natural formulation. This has enhanced the demand for safe, natural, and organic beauty products in recent times. Furthermore, the increasing trend of organic concept stores for organic cosmetic products among consumers is also anticipated to enhance the growth of natural and organic beauty products in the country.
• For instance, Green Lane is an organic store that specializes in selling high-quality natural cosmetics from international brands. The assortment ranges from creams and hair cosmetics which are 100% natural, free of paraben, and vegan.

Hair Coloring and Styling Sector is Witnessing an Upsurge

• The growing trend of hair coloring and styling significantly drives the market. The leading players, such as Lakme, are coming up with a wider range of product offerings to cater to the rising consumer demand in the country. Thus, players are adopting varied strategies to entice a larger consumer base. Millennials are the major consumers of hair coloring and styling products owing to the changing trend and lifestyles.
• Meanwhile, the country's aging population is also driving the demand for chemical-free hair coloring products as they seek non-hazardous hair-dying products in the market. As a result, the manufacturers in the market are offering natural hair coloring products to cater to consumer demand. For instance, Khadi Natural Hair Colour offers different shades of hair colors, including blond, brown, and black, formulated using herbal ingredients to dye and strengthen the hair.
• Furthermore, young consumers are becoming more interested in various hair styling products, including hair gels, hair wax, hair creams, and other products. Moreover, the manufacturers are focused on offering hairstyle solutions for curly hair, frizzy hair, thin hair, and other hair types. Thus, the development of various hair styling products coupled with the increasing trend of beauty awareness among individuals is fuelling the demand for hair styling products in the market.

Switzerland Cosmetics Industry Overview

The market studied is highly competitive in nature. This is due to the presence of domestic and international players in this sector. The Swiss cosmetics market is strongly dominated by foreign players such as the L'Oreal Group, Avon Products Inc., Estée Lauder Companies Inc., Shiseido Co. Ltd, Dior, Yves Rocher International, and Oriflame Holding AG. Key players are majorly focusing on product development and product innovation to meet the consumer's needs by offering the product in high quality to maintain premiumization. Some of the major players use mergers and acquisitions as their key strategy. The strategy to follow mergers and acquisitions by these top players is to sustain and secure a leading position in the industry. This will enable the companies to maintain dominance over other players, and the companies can remain a strong competition for other players in the market.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support