Luxury Cosmetics Market by Type and Geography - Forecast and Analysis 2022-2026
| Published: Jun 2022 | Pages: 131 | SKU: IRTNTR73738 |
Luxury Cosmetics Market Size & Analysis
The luxury cosmetics market share is expected to increase to USD 28.22 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 7.77%.
The growth of the market depends on several factors such as increased demand for luxury skincare products, growing product launches, and the emergence of omnichannel retail. The market also faces some crucial challenges such as lack of luxury brand penetration in major parts of developing regions, including MEA and APAC, the availability of counterfeit products, and stringent regulations in product formulations, labeling, and packaging.
Luxury Cosmetics Market Dynamic
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Luxury Cosmetics Market Driver
Increased demand for luxury skincare products is a key driver boosting the market growth. Some professional skincare manufacturers offer advanced treatments followed by pricier luxury skincare products. Consumers are increasingly concerned about issues like aging spots and acne, making them willing to invest in luxury skincare.
These innovative products use high-quality ingredients, driving product premiumization. With rising disposable incomes, consumers don't mind spending on luxury, especially in skincare. Global luxury cosmetics companies are expanding their skincare offerings. For instance, Shiseido Co., Ltd. sold bareMinerals, Laura Mercier, and BUXOM to Advent International for USD 700 million in December 2021 to focus on high-end skincare brands in the APAC region.Skincare manufacturers invest in innovative ingredients and technologies for healthier, youthful-looking skin. The market is filled with advanced anti-aging products catering to various skin types. Estee Lauder's Idealist Pore Minimizing Skin Refinisher is one such product that addresses texture and wrinkles.
Luxury Cosmetics Market Trends
Increasing online retailing is a key trend influencing the market growth. Increased internet access and the proliferation of smart devices have expanded consumer reach to online shopping platforms. Retailers utilize these platforms to broaden their customer base and geographical presence. The convenience of online shopping and enhanced e-commerce security drive the growth of the online luxury cosmetics market.Many mineral cosmetics vendors primarily sell their products through e-commerce sites and are increasingly launching products online. For example, in February 2022, Amorepacific Group introduced its luxury skincare brand, Sulwhasoo, on Tata CLiQ Luxury in India.
Sephora is prominent in both offline and online distribution, while Nykaa E-Retail Pvt. Ltd. focuses on online cosmetic retailing, offering discounts and detailed product information. It's projected that 26.8% of global health and beauty sales will come from online shopping, up from 20% in 2021. The expanding internet user base in developing countries presents substantial market potential for luxury cosmetics, driving demand.
Luxury Cosmetics Market Challenges
Lack of luxury brand penetration in major parts of developing regions, including MEA and APAC is a key challenge hindering the market growth. Cosmetic product manufacturers face ongoing challenges in establishing effective distribution networks and devising strategic distribution plans. These challenges become particularly complex in the case of luxury beauty products like face oils, primarily available through specialty beauty retail stores, department stores, and occasionally online retailers. Consequently, these two retail formats, along with online channels, serve as the primary distribution partners for luxury cosmetics manufacturers.
The prevalence of department stores and specialty beauty retail stores is highest in developed regions and tier-1 cities such as New York City, London, Shanghai, Tokyo, Rio de Janeiro, and Berlin. Conversely, luxury cosmetics see limited uptake in tier-2 and tier-3 cities in developing regions like MEA and APAC, making it impractical for retailers or vendors to establish a presence there. Furthermore, logistics pose a significant challenge, as many retailers, whether brick-and-mortar or online, struggle to establish robust delivery networks in these areas. The limited access to consumers and low penetration of luxury brands in most parts of developing regions, including MEA and APAC, present obstacles to the growth of the global luxury cosmetics market in the forecast period.
Luxury Cosmetics Market Segmentation
By Type
The luxury cosmetics market share growth by the organic segment will be significant during the forecast period. Organic cosmetics and cosmeceuticals are gaining popularity as these products contain biologically active compounds, which have medicinal effects on the skin and are free from toxic compounds that are harsh on the skin. Compounds such as parabens and phthalates, which are extensively used in chemical-based cosmetics, are also known to cause cancer and type II diabetes, due to which organic skin care products and cosmeceuticals are gaining popularity, which will drive the segment growth in the coming years.
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Regional Analysis
APAC is estimated to contribute 51% to the growth of the global market during the forecast period.
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The rising access to online shopping through the internet and smart gadgets and increasing penetration of vendors will facilitate the luxury cosmetics market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The COVID-19 pandemic hampered the growth of the regional market in 2020. The luxury cosmetics market in APAC was adversely impacted owing to the rapid increase in the number of COVID-19 cases, which affected the workforce, raw material supply, intermediate food products, and trade and logistics, leading to demand-supply volatility and uncertain consumer demand in the regional luxury cosmetics market. However, with the introduction of COVID-19 vaccines in 2021 and COVID-19 appropriate behavior, the market is bouncing back with the resumption of production. Thus, the regional luxury cosmetics market is expected to grow positively during the forecast period.
Who are the Major Luxury Cosmetics Market Companies?
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Corp.shiseido- The company offers luxury cosmetics under the subsidiary Lancome Paris.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
- CHANEL Ltd.
- Christian Dior SE
- Coty Inc.
- Kao Corp.
- Kose Corp.
- La Mer Technology Inc.
- Laura Mercier US Buyer LLC
- LOreal SA
- LVMH Moet Hennessy Louis Vuitton SE
- Oriflame Holding AG
- Pat McGrath
- PUIG S.L.
- Ralph Lauren Corp.
- Revlon Inc.
- Shiseido Co. Ltd.
- The Estee Lauder Co. Inc.
- Unilever PLC
- Avon Products Inc.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
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Luxury Cosmetics Market Scope |
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Report Coverage |
Details |
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Page number |
131 |
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Base year |
2021 |
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Historic period |
2017-2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.77% |
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Market growth 2022-2026 |
USD 28.22 billion |
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Market structure |
Fragmented |
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YoY growth 2021-2022(%) |
7.42 |
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Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 51% |
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Key countries |
US, Canada, China, Japan, Germany, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
CHANEL Ltd., Christian Dior SE, Coty Inc., Kao Corp., Kose Corp., La Mer Technology Inc., Laura Mercier US Buyer LLC, LOreal SA, LVMH Moet Hennessy Louis Vuitton SE, Oriflame Holding AG, Pat McGrath, PUIG S.L., Ralph Lauren Corp., Revlon Inc., Shiseido Co. Ltd., The Estee Lauder Co. Inc., Unilever PLC, and Avon Products Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Luxury Cosmetics Market Research Report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the market between 2022 and 2026
- Precise estimation of the size of the market size and its contribution of the market in focus to the parent market
- Accurate predictions about upcoming trends and changes in consumer behaviour
- Growth of the market industry across APAC, North America, Europe, Middle East and Africa, and South America
- Thorough analysis of the market's competitive landscape and detailed information about companies
- Comprehensive analysis of factors that will challenge the growth of market companies
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 12: Market segments
- 3.3 Market size 2021
- 3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
- 4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
- 4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
- 4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
- 4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
- 4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
- 4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026
5 Market Segmentation by Type
- 5.1 Market segments
- Exhibit 24: Chart on Type - Market share 2021-2026 (%)
- Exhibit 25: Data Table on Type - Market share 2021-2026 (%)
- 5.2 Comparison by Type
- Exhibit 26: Chart on Comparison by Type
- Exhibit 27: Data Table on Comparison by Type
- 5.3 Organic - Market size and forecast 2021-2026
- Exhibit 28: Chart on Organic - Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on Organic - Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on Organic - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Organic - Year-over-year growth 2021-2026 (%)
- 5.4 Conventional - Market size and forecast 2021-2026
- Exhibit 32: Chart on Conventional - Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on Conventional - Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on Conventional - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Conventional - Year-over-year growth 2021-2026 (%)
- 5.5 Market opportunity by Type
- Exhibit 36: Market opportunity by Type ($ million)
6 Customer Landscape
- 6.1 Customer landscape overview
- Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 38: Chart on Market share by geography 2021-2026 (%)
- Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
- 7.2 Geographic comparison
- Exhibit 40: Chart on Geographic comparison
- Exhibit 41: Data Table on Geographic comparison
- 7.3 APAC - Market size and forecast 2021-2026
- Exhibit 42: Chart on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 43: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 44: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 45: Data Table on APAC - Year-over-year growth 2021-2026 (%)
- 7.4 North America - Market size and forecast 2021-2026
- Exhibit 46: Chart on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 47: Data Table on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 48: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 49: Data Table on North America - Year-over-year growth 2021-2026 (%)
- 7.5 Europe - Market size and forecast 2021-2026
- Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)
- 7.6 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 54: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- 7.7 South America - Market size and forecast 2021-2026
- Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)
- 7.8 China - Market size and forecast 2021-2026
- Exhibit 62: Chart on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on China - Year-over-year growth 2021-2026 (%)
- 7.9 US - Market size and forecast 2021-2026
- Exhibit 66: Chart on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)
- 7.10 Germany - Market size and forecast 2021-2026
- Exhibit 70: Chart on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on Germany - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on Germany - Year-over-year growth 2021-2026 (%)
- 7.11 UK - Market size and forecast 2021-2026
- Exhibit 74: Chart on UK - Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on UK - Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on UK - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on UK - Year-over-year growth 2021-2026 (%)
- 7.12 Japan - Market size and forecast 2021-2026
- Exhibit 78: Chart on Japan - Market size and forecast 2021-2026 ($ million)
- Exhibit 79: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
- Exhibit 80: Chart on Japan - Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on Japan - Year-over-year growth 2021-2026 (%)
- 7.13 Canada - Market size and forecast 2021-2026
- Exhibit 82: Chart on Canada - Market size and forecast 2021-2026 ($ million)
- Exhibit 83: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
- Exhibit 84: Chart on Canada - Year-over-year growth 2021-2026 (%)
- Exhibit 85: Data Table on Canada - Year-over-year growth 2021-2026 (%)
- 7.14 Market opportunity by geography
- Exhibit 86: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- 8.3 Impact of drivers and challenges
- Exhibit 87: Impact of drivers and challenges in 2021 and 2026
- 8.4 Market trends
9 Vendor Landscape
- 9.1 Overview
- 9.2 Vendor landscape
- Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
- 9.3 Landscape disruption
- Exhibit 89: Overview on factors of disruption
- 9.4 Industry risks
- Exhibit 90: Impact of key risks on business
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 91: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 92: Matrix on vendor position and classification
- 10.3 Christian Dior SE
- Exhibit 93: Christian Dior SE - Overview
- Exhibit 94: Christian Dior SE - Product / Service
- Exhibit 95: Christian Dior SE - Key offerings
- 10.4 Coty Inc.
- Exhibit 96: Coty Inc. - Overview
- Exhibit 97: Coty Inc. - Business segments
- Exhibit 98: Coty Inc. - Key offerings
- Exhibit 99: Coty Inc. - Segment focus
- 10.5 Kao Corp.
- Exhibit 100: Kao Corp. - Overview
- Exhibit 101: Kao Corp. - Business segments
- Exhibit 102: Kao Corp. - Key offerings
- Exhibit 103: Kao Corp. - Segment focus
- 10.6 Kose Corp.
- Exhibit 104: Kose Corp. - Overview
- Exhibit 105: Kose Corp. - Product / Service
- Exhibit 106: Kose Corp. - Key offerings
- 10.7 LOreal SA
- Exhibit 107: LOreal SA - Overview
- Exhibit 108: LOreal SA - Business segments
- Exhibit 109: LOreal SA - Key news
- Exhibit 110: LOreal SA - Key offerings
- Exhibit 111: LOreal SA - Segment focus
- 10.8 Oriflame Holding AG
- Exhibit 112: Oriflame Holding AG - Overview
- Exhibit 113: Oriflame Holding AG - Business segments
- Exhibit 114: Oriflame Holding AG - Key offerings
- Exhibit 115: Oriflame Holding AG - Segment focus
- 10.9 PUIG S.L.
- Exhibit 116: PUIG S.L. - Overview
- Exhibit 117: PUIG S.L. - Product / Service
- Exhibit 118: PUIG S.L. - Key offerings
- 10.10 Revlon Inc.
- Exhibit 119: Revlon Inc. - Overview
- Exhibit 120: Revlon Inc. - Business segments
- Exhibit 121: Revlon Inc. - Key news
- Exhibit 122: Revlon Inc. - Key offerings
- Exhibit 123: Revlon Inc. - Segment focus
- 10.11 Shiseido Co. Ltd.
- Exhibit 124: Shiseido Co. Ltd. - Overview
- Exhibit 125: Shiseido Co. Ltd. - Business segments
- Exhibit 126: Shiseido Co. Ltd. - Key offerings
- Exhibit 127: Shiseido Co. Ltd. - Segment focus
- 10.12 The Estee Lauder Co. Inc.
- Exhibit 128: The Estee Lauder Co. Inc. - Overview
- Exhibit 129: The Estee Lauder Co. Inc. - Business segments
- Exhibit 130: The Estee Lauder Co. Inc. - Key news
- Exhibit 131: The Estee Lauder Co. Inc. - Key offerings
- Exhibit 132: The Estee Lauder Co. Inc. - Segment focus
11 Appendix
- 11.1 Scope of the report
- 11.2 Inclusions and exclusions checklist
- Exhibit 133: Inclusions checklist
- Exhibit 134: Exclusions checklist
- 11.3 Currency conversion rates for US$
- Exhibit 135: Currency conversion rates for US$
- 11.4 Research methodology
- Exhibit 136: Research methodology
- Exhibit 137: Validation techniques employed for market sizing
- Exhibit 138: Information sources
- 11.5 List of abbreviations
- Exhibit 139: List of abbreviations
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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luxury cosmetics market market
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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