Cosmetics & Personal Care
Statistics and facts on Cosmetics & Personal Care
The global beauty market
is usually divided into five main business segments: skincare, haircare, color (make-up), fragrances and toiletries. These segments are complementary and through their diversity they are able to satisfy all consumers’ needs and expectations with regard to cosmetics. Beauty products can be also subdivided into premium and mass production segments, according to the brand prestige, price and distribution channels used.
Over the years to come, the cosmetics and personal care industry is predicted to record gains across the board, with particularly strong growth expected for sun protection and anti-aging products as consumers become increasingly aware of the dangers of sun exposure and more concerned with preserving a youthful appearance.
Emerging nations represent huge potential for international companies, offering better quality products than locally produced goods to populations with rising income levels. Multinational companies have begun establishing a strong foothold in countries such as Russia, India and China.
Rising income means that consumers are more concerned with product effectiveness and ingredients used than cheap products. Manufacturers are therefore focused on advertising their products as superior to those of rival companies, rather than systematically seeking to undercut market prices.
Distribution channels are changing in that cosmetic brands are available not only in retail outlets like department stores, but also through internet purchasing, television infomercials, home shopping, airport vending machines and in spas.