Published on : Apr 30, 2018
Albany, New York, April 30, 2018: Presently, the growing number of appearance-conscious people are constantly contributing towards the growth of personal care products market. Also, the increasing disposable income, changing fashion trends, and improvement in the living standards of the consumers drive the cosmetic products market. Recently, a study titled “Cosmetic and Personal Care Stores: Global Markets to 2022” has been broadcasted to the massive repository of Market Research Hub (MRH), which accurately predicts the future of the market and also gives an overview of the current market situation.
To precisely estimate the market value share and volume forecast, 2016 is considered as the base year. Moreover, the report provides information on the various factors that are likely to boost market revenue growth during the forecast period. Another vital part of the report highlights the competitive landscape of the global cosmetic and personal care stores market, positioning all the major players according to their presence in different regions of the world. Geographically, regions highlighted in the study include North America, APAC, Europe and row.
Forecast Key Highlights
Analysts have found that the global cosmetic and personal care stores market computed $75.3 billion in 2017 and is estimated to reach $100.7 billion by 2022, growing at a CAGR of 6.0% for the period of 2017-2022. Also, developing markets growth, aspirational lifestyles, rapid urbanization, rising millennial population, and technological advances are driving the demand for cosmetic and personal care stores market.
As per the latest report findings, companies are highly investing in designs and digital technologies to improve sales and in-store experiences for its customers. Looking to the current situation of the market, it has been stated that consumers will demand personalized beauty defined on their individual terms, and brands will squeeze inclusivity by looking beyond age, gender, sexuality, and body type. Some of the major trends identified in the report are as follows:
- Adapting to consumer preferences and tastes
- Augmented reality for personal care stores
- Rise in influencer marketing
- Catering to growing demand for organic products in stores
- Increasing use of data analytics
- Digital engagement in stores
Furthermore, the research also analyzes market opportunities by highlighting major segments such as product type and application. By product type, the highest growth is projected to come from Skincare, which is forecasted to grow at a significant rate.
In terms of geography, the report examines that Asia-Pacific is the largest cosmetic and personal care stores market. Besides, Eastern Europe is expected to witness the fastest growth in this particular market.
Later, the competitive landscape is also offered in the report which is a valuable resource for readers, as it helps in gauging the complete competitive scenario in the market. At present, major players in the market include The Estee Lauder, Walgreens Boots Alliance, LVMH, CK Hutchison Holdings and others.
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