Published Date: 12-May-22
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According to a new report, published by KBV research, The Global Luxury Bath And Body Products Market size is expected to reach $22 billion by 2027, rising at a market growth of 7.3% CAGR during the forecast period.
The Offline segment acquired the maximum revenue share in the Global Luxury Bath And Body Products Market by Distribution Channel 2020; thereby, achieving a market value of $15.7 billion by 2027. Consumer interest in luxury bath goods has risen as a result of the increased emphasis on self. As a result, big offline retailers, such as Costco Wholesale Corporation and Walmart that stock and sell a variety of luxury products, have seen a jump in sales, propelling the offline category. Moreover, offline distribution channels allow the customer to explore a broad variety of goods, due to which, people are becoming more inclined toward offline shopping in terms of bath and body products. Further, the rapidly rising number of hypermarkets, supermarkets, and convenience stores is also one of the major reasons that are gaining the traction of customers while purchasing luxury bath and body products. Therefore, the growth of this segment is anticipated to augment throughout the forecasting years.
The Body Oil segment is showcasing a CAGR of 7.5% during (2021 - 2027). Aromatherapy is becoming more popular as a medical alternative for treating symptoms like anxiety, pain, and insomnia. Due to the growing popularity of aromatherapy and the growing number of wellness centers and spas throughout the world, the demand for luxury bath oils has bolstered in recent years. In addition, with more market players increasing their efforts on bringing enhanced innovations across the market, the availability of body oil is increasing day by day. Therefore, this segment is estimated to register significant growth over the forecast period.
The North America market dominated the Global Luxury Bath And Body Products Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $7.4 billion by 2027. The Europe market is estimated to grow at a CAGR of 6.9% during (2021 - 2027). Additionally, The Asia Pacific market would experience a CAGR of 7.9% during (2021 - 2027).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of The Estée Lauder Companies, Inc., Chanel S.A., Aromatherapy Associates (Walgreens Boots Alliance group), Kao Corporation, Diptyque (Manzanita Capital Ltd.), Chantecaille Beauté (Beiersdorf AG), Susanne Kaufmann Kosmetik GmbH, Bamford Ltd., ASC Regenity, Inc. (Augustinus Bader), and Tata's Natural Alchemy, LLC.
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