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Technavio’s market research analyst predicts the global online beauty and personal care market to grow at a CAGR of more than 16% by 2020. The rise in the number of millennial shoppers has fueled the growth of online retail channels as most of them are tech-savvy and price-sensitive and prefer shopping online at discounted rates. Bath and shower products, hair conditioners, suntan products, and hair styling gels are the most purchased beauty and personal care products online. The ease and time-saving aspects of online shopping and the wide range of products available on online retail platforms are additional factors that have contributed to the growth of online retail. Also, with e-retailers offering better security features for online payments, free delivery, improved online customer services, and customer-friendly and easy-to-navigate shopping websites, the number of consumers using online portals for shopping will increase significantly in the next few years. Moreover, the surge in demand for halal beauty and personal care products online is another factor that will boost the growth prospects of the market during the forecast period.
The latest development gaining traction in this market is the rise in demand for dermo-cosmetic products. Dermocosmetics are products that integrate cosmetic action with dermatological functions. It is a segment of dermatology that focuses on the aesthetic appearance of the skin and has gained huge prominence in the global beauty market. Western Europe represents almost 60% of the dermo-cosmetics market where France is the market leader in terms of revenue, followed by Italy, Germany, and Spain.
This market is marked by the presence of both national and international vendors. These e-retailers sell multi-brands including their home brand or private label consumer products to end-users through their online portals. The increased adoption of m-commerce and network marketing will prove beneficial for the growth of the market players during the forecast period. The chances of many startups and large firms entering the market are high, considering the high growth potential of the market.
Leading vendors in the market are -
Other prominent vendors in the online beauty and personal care market include Drugstore.com, e-Bay, Groupon, J.C. Penney, Kroger, Macy’s Inc., Target, Ulta, and Walmart.
The skin care products segment will continue its dominance in the market and is anticipated to occupy more than 27% of the overall market share by 2020. The skin care segment includes facial creams and body lotions which are used to enhance the skin quality, rejuvenate the cells, prevent wrinkles, and brighten the skin. The availability of several new and improved products in the market will enhance the online sales of skin care products over the next few years. Also, vendors are launching products that contain ingredients derived from natural and organic sources, which will increase the revenue generated from these products during the forecast period.
APAC is the largest revenue contributing region in the online beauty and personal care market and is likely to occupy around 40% of the total market share by 2020. Much of the region’s growth is driven by consumer experimentation with new products, which has increased the purchase of color cosmetics and fragrances. The rising popularity of safe cosmetics and increased adoption of specific products such as anti-agers, and whitening and skin lightening products by men will significantly accelerate growth in the market in this region over the next four years.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product
PART 07: Geographical segmentation
PART 08: Key leading countries
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Vendor landscape
PART 15: Appendix
PART 16: Explore Technavio
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