Global Premium Beauty & Personal Care Products Market Augmented Expansion to be Registered by 2022

Posted on 2018-12-19 by Mark Hub in Retail // 0 Comments

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Premium beauty and personal care products brands usually cater to affluent target consumers, especially millennials. These consumers are willing to pay higher prices for the better safety and efficacy that premium beauty and personal care products claim. In recent years, this category of premium beauty and personal care products has also piqued the curiosity of not-so-affluent class of consumers in various parts of the world. A key force underpinning their affinity toward premium beauty and personal care products is the growing desire for products with natural or organic ingredients and products that can have specific benefits.

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Prominent manufacturers, world over, in the Premium Beauty and Personal Care Products Market are adopting strategies to capitalize on the trend of premiumization. The efforts in the premium beauty and personal care products market are evident in their focus on innovating the products in several ways. Premium beauty and personal care products brands are adding botanically-derived ingredients, adopting green production methods, and going for more engaging packaging for consumers to tap emerging avenues. Spiraling awareness about advanced skin care is creating new possibilities in premium beauty and personal care products market.

Several Premium Beauty and Personal Care Products Brands have jumped on the Bandwagon

The premium beauty and personal care products market is expected to witness more attractive evolution trajectories as more number of these products are mainstreamed toward common consumers. Manufacturers of mass-category products in various parts of the world seem to jump on the bandwagon of the rising affinity toward beauty and personal care products. This has imparted a considerable momentum to the expansion of the premium beauty and personal care products market. Various beauty and personal care products brands are leveraging their technical competencies to develop specialized personal care products, notably for skin care. Numerous skin care brands are tapping into several emerging markets with premium beauty and personal care products to meet the emerging product choices, especially of young adults in generation Y. The adoption of eco-friendly labels in premium beauty and personal care products is also providing a robust thrust in this direction.

Leveraging Potential of E-commerce Channels point to Large Opportunity for Companies in Premium Beauty and Personal Care Products

E-commerce has emerged as markedly attractive channel for exploring new demographics for players in the premium beauty and personal care products market. Companies are leveraging online sales outlet for making robust positioning of their premium beauty and personal care products. E-commerce channels have helped them expand the product reach to new consumers in the premium beauty and personal care products market who are enamored by premiumization. The rapid penetration of e-commerce in developing and developed economies is reinforcing their efforts in the premium beauty and personal care products market.

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Market Definition

Premium beauty and personal care products are products that are higher priced than the rest and intended to be more effective and safe in meeting the various cosmetics and skin care needs of consumers. The intended benefits of premium beauty and personal care products can be on the account of more natural or organically-sourced ingredients, green production techniques, and better packaging. Most premium beauty and personal care products brands are venturing into premium segments for reaping higher revenue gains over the manufactures of mass products. Several product innovations are expected to set the pace of the global beauty and personal care products market.

Competitive Contours of Premium Beauty and Personal Care Products Market

The report offers a critical look at the profile of various market players and the offerings of key ones in the premium beauty and personal care products market. It also evaluates how the changes in strategic landscape going to influence the degree of competition in the premium beauty and personal care products market. Some of the top players operating in the premium beauty and personal care products market are Revlon, Inc., Mary Kay, Shiseido Company, Limited, Procter and Gamble Co., Avon Products, Beiersdorf AG, Kao Corporation, the Estée Lauder Companies Inc., Loreal Group, and Unilever.

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