Exclusive extracts from this 112-page-long report:
- What is the business?
The global cosmetic and perfume market is a multi-faceted sector, encompassing a wide range of products aimed to beautify the face and body such as facial make-up, skincare, personal care products and fragrances. It is a dynamic, supply-driven market, particularly spurred by constant innovation. Skincare is the main pillar and powerhouse of the industry, generating over one-third of sales and promising the highest grow rates, as well as strong profit margins. […]
- What are the main markets?
North America and Western Europe together accounted for almost half of global perfume and cosmetics sales in 2017, but provide only moderate growth prospects. The Asia-Pacific region meanwhile concentrated over a third of global sales thanks to the size of its population as well as changing lifestyles and consumer habits. Emerging markets are also the fastest growing beauty care markets, with sales in these regions expected to grow by an average of 4-6% per year over 2018-2021. [...]
- Who are the key players?
Western and Japanese groups dominate the global market. However, leaders are very different in terms of size or profile, comprising everything from diversified consumer goods conglomerates, to large-scale cosmetics or perfumes specialists or small, highly-specialised niche players. Because of the prevalence of smaller, independent brands and niche segments, market concentration remains relatively low. [...]
- How intense is competition?
Competitive rivalry is multi-faceted and intense, mostly revolving around innovation power, product variety, distribution strategies, pricing and brand value. Large beauty care groups continue to shape the global market by dominating key aspects of competition such as marketing, distribution and innovation. However, as the market is being reshaped by new demand trends and technologies, traditional leaders are confronted with growing competition from new entrants. [...]