Luxury Cosmetics Market Size is Expected to Reach US$ 64.55 Billion by 2027| Growing at 5.10% CAGR

  According to the latest report by IMARC Group, titled “Luxury Cosmetics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global luxury cosmetics market share. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global luxury cosmetics market reached a value of US$ 47.35 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 64.55 Billion by 2027, exhibiting a CAGR of 5.10% during 2022-2027.

Luxury cosmetics are produced using high-quality ingredients and are extensively available in advanced packaging. They include haircare, fragrances, skincare and makeup products that are expensive as compared to drugstore cosmetics. They provide consistency, longevity and superior quality, which have an observable effect on the skin. Some cosmetics products can clear the top layer of the skin without any damage and assist in averting negative environmental impact.

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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Luxury Cosmetics Market Trends and Drivers:

One of the primary factors driving the market is the rising disposable income of individuals and the growing awareness about the advantages of using luxury products. Additionally, the widespread internet penetration has led to the expansion of the e-commerce industry worldwide. 

In confluence with this, the extensive availability of luxury cosmetics through online and offline channels is propelling the market growth. Besides this, the rising demand for halal cosmetics due to the presence of powerful activities and proven vegan ingredients is catalyzing the market growth. Furthermore, the escalating demand for high-performing color cosmetic products among fashion professionals and the increasing usage of luxury cosmetics to cater to skin and hair-related problems such as skin, rashes, hair fall, acne and dandruff is accelerating the product adoption rate. 

Moreover, several key market players are extensively investing in research and development (R&D) activities to launch fragrances, oral care products and anti-aging cosmetics, which is expanding their consumer base. 

Luxury Cosmetics Market Report Scope
Report Coverage	Details
Market size value in 2021	US$ 47.35 Billion
Market forecast in 2027	US$ 64.55 Billion
Growth Rate	CAGR of 5.10% from 2022 to 2027
Base year for estimation	2021
Historical data	2016-2021
Forecast period	2022-2027

Global Luxury Cosmetics Market 2022-2027 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

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. 

The report has segmented the market on the basis of region, 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

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Key highlights of the report:

• Market Performance (2016-2021)

• Market Outlook (2022- 2027)

• Porter’s Five Forces Analysis

• Market Drivers and Success Factors

• SWOT Analysis

• Value Chain

• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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