Global Cosmetics Market is anticipated to Witness High Growth owing to Rising Demand for Premium and Niche Products
Cosmetics include skincare, hair care, makeup, perfumes, and other products used to enhance one's appearance or odor. The global cosmetics industry has grown tremendously over the past few decades driven by increasing disposable incomes, growing beauty consciousness among both men and women, and the rising use of cosmetic products for general well-being and not just for enhancing looks. Various factors are contributing to the rising popularity of premium and niche cosmetic brands that focus on natural and organic ingredients, luxury formulations and sustainable packaging. The need for multi-functional, results-oriented cosmetic products is also on the rise. The Global Cosmetics Market is estimated to be valued at US$ 438.5 Bn in 2024 and is expected to exhibit a CAGR of 5.3% over the forecast period of 2023 to 2030. Key Takeaways Key players operating in the Cosmetics Market are L’Oreal S.A, Unilever plc., The Procter & Gamble Company, The Estee Lauder Companies I...