Beauty and Personal Care Market to Grow at CAGR of 3.20% over 2022-2028 (1)

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Beauty and Personal Care Market to Grow at CAGR
of 3.20 over 2022- 2028
Triton Market Research presents the Global Beauty
and Personal Care Market report segmented by Type
(Hair Care, Color Cosmetics, Baby and
Child-specific Products, Bath and Shower
Products, Sun Care, Skincare, Oral Care,
Fragrances, Mens Grooming, Other Types), by
Sales Channel (Beauty Specialist Stores,
Pharmacies Drugstores, Hypermarkets
Supermarkets, E-Commerce, Other Sales Channels),
by Geographical Region (North America, Europe,
Asia-Pacific, Latin America, Middle East and
Africa), discussing Market Summary, Industry
Outlook, Market Drivers, Market Challenges,
Market Opportunities, Competitive Landscape,
Research Methodology Scope, and Global Market
Size, Forecasts, Analysis (2022-2028). Triton
Market Research, in its report on the Global
Beauty and Personal Care Market, has stated that
the market is likely to evolve at a CAGR of 3.20
over the forecasting duration from 2022 to 2028.
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In recent years, premium trends, like the
preference for organic and all-natural beauty
products, have been on the rise. Hence, companies
that have heavily invested in research
development to keep pace with these trends have
fared well. At the same time, certain synthetic
ingredients used in cosmetic products have also
gained considerable negative publicity, which has
asserted the consumers negative perceptions of
chemicals. Thus, the demand for natural and
organic beauty and personal care products is a
key driver of the market. Further, over the past
few years, counterfeits of leading brands in the
beauty and personal care space have flooded the
market. These products are priced lower than the
original branded products to lure customers. This
affects the market share of the leading
companies, and thus has a negative impact on the
studied markets growth. The Asia-Pacific leads
the global market for beauty and personal care,
with the highest revenue share in 2021. It is
expected to continue this growth until the end of
the projected period. In this region, the most
promising market growth has been witnessed in
China. The fast-growing, middle-class population
in the country has had a crucial impact on the
consumption patterns and sales volume of beauty
and personal care products, particularly in the
premium segment. In addition, South Korea-based
manufacturers have also been expanding their
production output in China to cater to the
surging domestic demand. Estée Lauder Cos,
Arabian Oud Co, Coty Inc, Puig SL, Beiersdorf AG,
Shiseido Co Ltd, Kao Corp, Natura Co,
Amorepacific Corp, Colgate-Palmolive Co, Procter
Gamble Co, Unilever Group, Loréal Groupe,
Johnson Johnson Inc, LVMH Moët Hennessy Louis
Vuitton SA, Henkel AG Co KGaA are some of the
notable players in the beauty and personal care
market. Buyers have a strong influence in the
beauty and personal care market. The availability
of substitutes and similar products provides
customers with the advantage of switching.
Further, this market also consists of some
substitute services, thus hindering the market
growth. The availability of beauty treatments and
spa treatments, along with adherence to a healthy
diet and a regular exercise routine, work as an
alternative to using these products. Besides, a
significant number of people are now preferring
cosmetic surgery treatments, as they have become
more cost-effective, and are considered an
alternative for beauty and personal care
products. Contact Us sales_at_tritonmarketresearch.
com Phone [phone]