According to Inkwood Research, the Global Beauty & Personal Care Market is estimated to grow with a CAGR of 3.13% in terms of revenue during the forecasting years 2023-2032.
“Browse 117 Market Data Tables and 67 Figures spread over 380 Pages, along with an in-depth TOC on the Global Beauty & Personal Care Market Forecast 2023-2032.”
The global beauty & personal care market entails a diverse range of products, including bath & shower products, deodorants, color cosmetics, skin care products, hair care products, sun care products, oral care products, as well as male toiletries.
Surging Demand for Anti-Aging Products to Spur Global Market Growth
With consumers increasingly spending on anti-aging products, manufacturers are establishing efforts towards entering this highly lucrative market through various strategies. These include product innovations, mergers & acquisitions, and others. Moreover, the beauty & personal care market is also observing an increasing interest in anti-aging skin care products enriched with ingredients such as vitamin E, vitamin C, collagen, and other components that delay aging.
Skin Care to be the Leading Product Type
Innovations in the skin care segment have resulted in the development of multi-functionality products with the potential to service multiple skin needs, in addition to the growth of ‘all-in-one’ skin care solutions. Furthermore, various advancements have also led to the formulation of improved skin care products that deliver quick and visible results.
Asia-Pacific to be the Fastest-Growing & Dominating Region by 2032
The significant market growth in the Asia-Pacific is accredited to the rising awareness about environmental pollution and the rapidly developing retailing division in emerging nations. Moreover, the industrial rivalry in the global market is projected to be high during the forecast period.
In addition, some of the major companies operating in the global market include Shiseido Company Limited, Johnson & Johnson, Unilever PLC, etc.