Seattle, WA -- (SBWIRE) -- 11/15/2019 -- A market study "Global Premium Cosmetic Market" examines the performance of the Global Premium Cosmetic Market 2019. It encloses an in-depth Research of the Premium Cosmetic Market state and the competitive landscape globally. This report analyzes the potential of Premium Cosmetic Market in the present and the future prospects from various angles in detail.
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Cosmetics have become a crucial part of life around the world. The cosmetics are used to look appealable, stay energetic, and improve quality of life. Premium cosmetics that are made from special ingredients and include special procedures have gained significant traction in the recent past. These cosmetics are more effective compared to ordinary cosmetics and offer better results when applied. Global premium cosmetic sales market focuses on six regions namely North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The global premium cosmetic sales market is expected to witness significant growth during the forecast period, owing to significant growth of fashion industry.
On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into
Conventional
Organic
Vegan
Others
On the basis on the end users/applications, this report focuses on the status and outlook for major applications/end users, sales volume, market share and growth rate for each application, including
Hair Care
Skin Care
Fragrances & Perfumes
Make-up
Others
Market Dynamics- Drivers
Increasing demand for premium cosmetic products and significant growth of the fashion industry worldwide is expected to drive growth of the global premium cosmetic sales market over the forecast period. Consumers around the world have grown conscious about their appearances and are trying to stay sync with their peers. Moreover, premium cosmetic products such as skincare products offer better results than their contemporary products. This, in turn, is expected to increase the demand for premium cosmetic product and thereby drive the market growth. Moreover, rising disposable income in emerging economies is expected to drive the global premium cosmetic sales market in the near future.
Key players in the market are focused on various growth strategies such as product launches and collaborative agreements, in order to gain competitive edge. For instance, in August 2018, Church & Dwight Co., Inc. entered into an agreement with Jahwa to launch premium personal care and home care products. Furthermore, in September 2019, Avon Products, Inc. launched vegan skincare products including 'Clean Break Cleanser' and 'Purify Special Oil'. Thus, these factors are expected to drive the market growth in the near future.
Market Dynamics- Restraints
Availability of counterfeit brands and products in the market is expected to restrain growth of the global premium cosmetic sales market over the forecast period.
Regional Insights
Among regions, North America is expected to witness significant growth in the global premium cosmetic sales market over the forecast period. This is owing to high expenditure capacity on these products in the region. Furthermore, Asia Pacific is expected to witness rapid growth during the forecast period, owing to growing awareness regarding cosmetic products in the populace.
Competitive Landscape
Key players operating in the global premium cosmetic sales market are P&G, Avon, Amore Pacific, Jahwa, Henkel, and Estee Lauder Companies.
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