The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global cosmetics market has also been forecasted for the period 2016-2020, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
The competition in global cosmetics market is fragmented with the emergence of several local and regional players also. However, premium players of the cosmetic market Chanel SAS, Estee Lauder Companies, Inc., L'Oreal, and LVMH, who are also profiled with their financial information and respective business strategies.
Emerging MarketsWestern EuropeNorth America
Chanel SASEstee Lauder Companies Inc.L'OrealLVMH
The cosmetics refer to the products that enhance and beautify the external appearance of the body. The cosmetics rejuvenate, refresh and enhance the physical traits of the individual without the change in the body structure and functions. In the early decades the cosmetics were used for medicinal and health reasons. The cosmetics can be classified on the basis of product range and distribution channel. The product range includes the personal hygiene products and other cosmetics. The distribution channel includes departmental stores, e-commerce, drugstores and own brand stores, etc.
The cosmetics can further be classified on the basis of prestige, on the basis of need, on the basis of products and on the basis of application. There is also an emerging trend of digitalization in cosmetic and make-up category, driven by selfies, e-commerce, make-up blogging and tutorials, etc.
Global cosmetic market has increased at a significant CAGR during the years 2009-2015 and projections are made that the market would rise in the next four years i.e. 2016-2020 tremendously. The cosmetic market is expected to increase due to growth in e-commerce industry, digital advertising, upsurge of social media, urbanization, emergence of male grooming products, etc. Yet the market faces some challenges such as, counterfeit products, ban on animal testing, etc.
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