The Asia Pacific Premium Cosmetics Market would witness market growth of 8.1% CAGR during the forecast period (2019-2025). India’s expanding beauty industry is flourishing with the rise of online sales of beauty products and an inclination towards organic and ethical products. Today’s high penetration of smartphones and widespread internet access at the hands of 560 million Indians (TRAI data for September 2018) drive the country’s constant rise in the beauty and personal care industry. With the number of online users in the nation, it is no big deal that there is rapid growth in the beauty and personal care industry, accelerated by an increase in internet retail. Since technology has driven growth in most sectors of the economy, including beauty and personal care, businesses are reconsidering and upgrading the relevance of brick and mortar stores.
Extensive and the deep-rooted internet penetration along with a growing number of active users of social media platforms like Instagram, Facebook, Twitter, and Snapchat, help to raise awareness of Saudi Arabia's beauty and personal care routines and products by global standards. Social media influencers play an important role in explaining beauty and personal care products through tutorials and reviews. Beauty and personal care have experienced more coherent promotional campaigns, incited by intense competition between key players, and key distribution channels.
Previously, luxury products had been specifically targeted at a class comprised of affluent and elite consumers; however, this has changed recently. The rise in disposable income among emerging economies' urban populations and an increase in health concerns have led to an increase in demand for luxury products made using organic and high-quality ingredients. This trend of consumer behavior has essentially propelled the growth of the market for luxury cosmetics.
Based on Product, the market is segmented into Skincare, Makeup, Hair care, Fragrance, and Other Premium Cosmetics. Based on Distribution Channel, the market is segmented into Offline and Online. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Australia, and Rest of Asia Pacific.
Free Valuable Insights: Premium Cosmetics Market in Asia Pacific is expected to register a CAGR of 8.1% during the forecast period (2019-2025)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include L'Oreal Group, Kao Corporation, Shiseido Company, Limited, Estee Lauder Companies, Inc., LVMH SE (Christian Dior), Revlon, Inc. (MacAndrews & Forbes), The Procter and Gamble Company, Coty, Inc. (JAB Cosmetics B.V.), Ralph Lauren Corporation, and Chanel S.A.
Market Segmentation:
By Product
By Distribution Channel
By Country
Companies Profiled
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