Personal Care Products Market Analysis, Growth and Competitive Landscape, 2014 to 2024
The global personal care products market size was USD 381.57 billion in 2016 and is anticipated to grow on account of increasing awareness regarding individual health and strong campaigning & advertising strategies implemented by established players.
(firmenpresse) - The global personal care product market is expected to reach USD 650.10 billion by 2024 and is growing on account of rising awareness regarding personal health and hygiene. Increasing sales of these products through e-commerce channels is anticipated to foster the growth of the market. Additionally, innovative packaging designs of this products are expected to boost the market.
In 2016, Asia Pacific held the largest market share and expected to maintain its dominance over the forecast period. North America personal care products market is anticipated to show steady growth rate on account of increasing demand for luxury personal care products. The increase in consumer spending power and massive advertising & promotional activities is expected to drive the growth of the market.
Market players are focusing on mergers & acquisition strategies to expand their presence in global market. For instance, in 2015, Unilever acquired REN, Kate Somerville, Dermalogica, and Murad to enter in global skincare market. In addition to this, German manufacturer Henkel acquired Blendax, Pert, and Shamtu haircare portfolios from Procter & Gamble to expand in eastern Europe and Middle East & Africa. Furthermore, companies are extensively investing in R&D for product innovation and new product development. For instance, according to Cosmetics Europe, a personal care association, annually large enterprises invest approximately 1.5% to 4.5% of their turnover on R&D activities.
Personal care products are bifurcated into skincare, haircare, oral care, fragrance and others. Skin and haircare product segment accounted for nearly 50% market share. Products such as creams, lotions, powders, and moisturizers are included within skincare. Haircare products are used for maintaining hair health as well as used for enhancing the attractiveness of hairs.
Oral care encompasses the oral health products such as toothpaste, toothbrush, and mouthwash. Fragrances are anticipated to grow at the fastest CAGR over the forecast period. It includes a mixture of aromatic compounds, essential oils and other pleasant substances that are designed to give a pleasant smell. Other segment includes toiletries products, color cosmetics, and grooming. Rising demand for anti-aging products is expected to open new opportunities for the growth of the market over the next few years.
Hexa Research has segmented the global personal care product market based on application and region:
Segmentation by application, 2014 - 2024 (USD Billion)
Segmentation by region, 2014 - 2024 (USD Billion)
& South America
Key players analyzed
& Gamble
& Johnson Services, Inc
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Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
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Datum: 20.07.2018 - 10:12 Uhr
Sprache: Deutsch
News-ID 1538801
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Kategorie:
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Typ of Press Release: Finanzinformation
type of sending: Veröffentlichung
Date of sending: 20.07.2018
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