Sarasota, FL -- (SBWIRE) -- 04/29/2019 -- According to the report, global cosmetic products market was valued at around USD 532 billion in 2017 and is expected to reach approximately USD 863 billion in 2024, growing at a CAGR of slightly above 7% between 2018 and 2024.

With the presence of a large pool of participants, the global cosmetic products market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Alticor, Oriflame Cosmetics Global SA, Yves Rocher, Procter & Gamble, Unilever, Mary Kay Inc., Revlon Inc., Kao Corp., L'Oreal Group, and Shiseido are some of the key vendors of cosmetic products across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the cosmetic products market study.

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Citing an instance, on October 3, 2018, Guinot Institut Paris—a France based cosmetic firm having a biggest chain of branded beauty units across Europe and 400 centers globally—declared that it will inaugurate first Guinot-branded Beauty unit in Mount Pleasant, U.S. The company sources have stated that the center is likely to open on October 22nd 2018 near the market at Oakland shopping unit.

As estimated in this report, the global cosmetic products market stood at US$ 532 billion in 2017. Witnessing a tremendous rise during the period from 2017 to 2024, the revenue in this cosmetic products market is expected to reach US$ 863 billion by the end of the forecast period. The main products available in this cosmetic products market are skin care products, hair care products, color cosmetics, fragrances, personal care products, and oral care products. Among them, the demand for personal care products is relatively higher and the trend is anticipated to remain so over the next few years, notes the cosmetic products market research report.

Desire To Retain Youthful Appearance Among Adults To Soar Market Size

"Massive use of cosmetic products to improve odor or body appearance along with immense desire of adults to retain youthful appearance is likely to nurture the growth of cosmetic products market in the years ahead," says the author of this study. Apart from this, massive demand for personal care products and growing popularity of online retailing & advertising, ecommerce activities, and internet is likely to aid the expansion of cosmetic products market. In addition, extensive use of shaving products, deodorants, skin care lotions, fragrances, hair care items, color and makeup cosmetics, and sun care products are expected to boost cosmetic products market demand over the coming years.

Humungous Presence Of Key Players To Aid North America Maintain Dominance

Regionally, North America has been leading the worldwide cosmetic products market and is anticipated to continue on the dominant position in the years to come, states the cosmetic products market study. High living standards of the U.S. population along with prominent usage of sunscreen lotions are the key factors behind the dominance of the North America cosmetic products market. The presence of giant manufacturers such as Maybelline Cosmetics, Avon, Estee Lauder, MAC Cosmetics, and Clinique being headquartered in North America is another significant factor that is supporting the growth of this regional cosmetic products market.

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The global cosmetic products market is segmented as follows:

By Product

Skin care products
Hair care products
Color cosmetics
Fragrances
Personal care products
Oral care products

By Form

Solutions
Creams
Lotions
Ointments
Suspensions
Tablets
Powders
Gels
Sticks
Aerosols
By Application

Lips
Eyes
Eyebrows
Nails
Face

By Distribution Channel

Online
Beauty salons
Specialty stores
Direct selling
Departmental stores
Pharmacy
Supermarkets

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By Region

North America
The U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa

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