Cosmetics & Personal Care Stores Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR (2024 - 2029) | 7.00 % |
| Fastest Growing Market | North America |
| Largest Market | Asia-Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Cosmetics & Personal Care Stores Market Analysis
The Cosmetics and Personal Care Stores Market is expected to register a CAGR of greater than 7% during the forecast period(2024-2029).
Direct-to-consumer (DTC) brands and eCommerce had become a way for sellers to sell their products successfully, and cosmetics and personal care stores started using this method of marketing.
With the advent of COVID-19, people's movement decreased due to restrictions on gatherings. As the reduction in people's movements and functions was made and parties were minimized during the COVID-19 period, businesses of cosmetic and personal care products, which are used in functions by people, observed a decline in sales. Other than this, people started shifting towards low maintenance and a natural look, with more attention being paid to health, leading to a negative impact on store sales.
As the global outlook recovered from COVID-19, consumer behavior observed a change. Instead of full makeup, people now prefer swipes of lipstick, eyecare, perfumes, and powder, leading stores to focus on specific varieties of products, which are observing an increase in sales. Consumer preference either towards skincare or makeup will further define cosmetics and personal care store sales globally.
Cosmetics & Personal Care Stores Market Trends
Increasing Attention Towards Skincare and Beauty Care Products
The female population around the world accounts for the majority of the cosmetic store industry's revenue. The youth or college-going population makes up a significant portion of them.A new trend has emerged over the years in which middle-aged men and women are searching for products to make them look young, which leads to firms designing and modifying their products as per consumer needs.
As consumers pay more attention to their physical health, better energy, less stress, and a better mood rise to the top as the most important benefits of sleep, overtaking physical benefits. This has led brands across all categories to focus on achieving peak wellness.Good nutrition is linked to good health, so people look for products that will help them look better and feel better about themselves.
Consumers are investing in beauty products as a lifestyle choice rather than due to societal pressure, seeking products that complement their wellness and beauty needs. Concepts of holistic skincare, mindful beauty, and healthy aging are continuously emerging, leading the cosmetic and personal care store market to continuously evolve with consumer needs.
Increased Expenditure on the Use of Body Care and Skincare Products in North America
Consumers in the United States spentmore than USD 9 billion on beauty products in the first half of current year by households. The NPD Group reports that in the past year, sales of beauty products to these customers climbed by 15%. Both an increase in buyers and consumer spending over the previous year with Millennials and Generation X driving most of the increase were responsible for this double-digit growth.
The skincare, fragrance, makeup, and haircare segments of the beauty market brought in is more than 400 USD billion in revenue in the current year. The growing demand from consumers for natural and organic ingredients is one of the main factors propelling the growth of the luxury skincare market. Customers are looking for skincare products with natural and organic ingredients as they become more conscious of the effects these products have on their skin and overall health.
Cosmetics & Personal Care Stores Industry Overview
As cosmetics and personal care products are part of the daily hygiene of users, the cosmetics and personal care market has been adopted globally, with cosmetics and personal care stores' expanding their sales. The stores have always played an important role in the sale of cosmetics and personal care products and are an important determinant when a company makes changes to its products. Loreal, Unilever, P&G, Estee Lauder, Shiseido, Beiersdorf, LVMH, Kao, Coty, and Johnson & Johnson are among the leading players existing in the global cosmetics and personal care market, with their store chains being located globally.
Cosmetics & Personal Care Stores Market Leaders
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Loreal
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Unilever
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P&G
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Estee Lauder
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Shiseido
*Disclaimer: Major Players sorted in no particular order
Cosmetics & Personal Care Stores Market News
- April 2023: Reliance Retail entered the beauty space with the launch of Tira, an omnichannel beauty retail platform that will offer a curated assortment of the best global and home-grown brands.
- September 2022: Loreal signed an agreement to acquire Skinbetter, which exists as a physician-dispensed American skincare brand. Loreal exists among the world's leading beauty players with a portfolio of 35 international brands and more than 85,000 employees globally.
- May 2022: Unilever signed an agreement with Nutrafol to acquire a majority stake in the company from an existing share of 13.2%. Nutrafol is a leading provider of hair wellness products. Nutrafol will be operating as a part of Unilever's health and well-being units with brands like OLLY, Liquid I.V., and Onnnit.
Cosmetics & Personal Care Stores Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.3 Market Restraints
- 4.4 Industry Value Chain Analysis
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4.5 Industry Attractiveness - Porter's Five Forces Analysis
- 4.5.1 Bargaining Power of Buyers
- 4.5.2 Bargaining Power of Suppliers
- 4.5.3 Threat of New Entrants
- 4.5.4 Threat of Substitutes
- 4.5.5 Intensity of Competitive Rivalry
- 4.6 Insights of Technology Innovations in the Market
- 4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
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5.1 By Product Type
- 5.1.1 Decorative
- 5.1.2 Skincare
- 5.1.3 Haircare
- 5.1.4 Perfume
- 5.1.5 Oral-Care
- 5.1.6 Bath & Shower
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5.2 By Distribution Channel
- 5.2.1 Specialist Retail Stores
- 5.2.2 Supermarket/Hypermarket
- 5.2.3 Convenience Stores
- 5.2.4 Pharmacies/Drug Stores
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5.3 By Region
- 5.3.1 North America
- 5.3.2 Asia-Pacific
- 5.3.3 South America
- 5.3.4 Middle East & Africa
- 5.3.5 Europe
6. COMPETITIVE LANDSCAPE
- 6.1 Market Concentration Overview
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6.2 Company Profiles
- 6.2.1 Loreal
- 6.2.2 Unilever
- 6.2.3 P&G
- 6.2.4 Estee Lauder
- 6.2.5 Shiseido
- 6.2.6 Beiersdorf
- 6.2.7 LVMH
- 6.2.8 Kao
- 6.2.9 Coty
- 6.2.10 Johnson& Johnson
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Cosmetics & Personal Care Stores Industry Segmentation
The cosmetics and personal care stores provide customers with cosmetic products that are used for cleaning, improving, or changing the complexion, skin, hair, nails, or teeth. The Cosmetics and Personal Care Stores Market is Segmented By Product Types (Decorative, Skincare, Haircare, Perfume, Oral Care, Bath and Shower), By Distribution Channels (Specialist Retail Stores, Supermarkets/Hypermarkets, Convenience Stores, Pharmacies/Drug Stores), and By Geography (North America, Europe, Asia-Pacific, South America, The Middle East, And Africa). The Report Offers Market Size and Forecasts for Cosmetics and Personal Care Stores in Volume and Value (USD) for All the Above Segments.
| By Product Type | Decorative |
| Skincare | |
| Haircare | |
| Perfume | |
| Oral-Care | |
| Bath & Shower | |
| By Distribution Channel | Specialist Retail Stores |
| Supermarket/Hypermarket | |
| Convenience Stores | |
| Pharmacies/Drug Stores | |
| By Region | North America |
| Asia-Pacific | |
| South America | |
| Middle East & Africa | |
| Europe |
Cosmetics & Personal Care Stores Market Research FAQs
What is the current Cosmetics and Personal Care Stores Market size?
The Cosmetics and Personal Care Stores Market is projected to register a CAGR of greater than 7% during the forecast period (2024-2029)
Who are the key players in Cosmetics and Personal Care Stores Market?
Loreal, Unilever, P&G, Estee Lauder and Shiseido are the major companies operating in the Cosmetics and Personal Care Stores Market.
Which is the fastest growing region in Cosmetics and Personal Care Stores Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Cosmetics and Personal Care Stores Market?
In 2024, the Asia-Pacific accounts for the largest market share in Cosmetics and Personal Care Stores Market.
What years does this Cosmetics and Personal Care Stores Market cover?
The report covers the Cosmetics and Personal Care Stores Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Cosmetics and Personal Care Stores Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Cosmetics and Personal Care Stores Industry Report
Statistics for the 2024 Cosmetics and Personal Care Stores market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Cosmetics and Personal Care Stores analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
