Insights on the Luxury Cosmetics Global Market to 2027 – by Product Type, Type, Distribution Channel, End-user and Region – QNT Press Release


DUBLIN, July 5, 2022 /PRNewswire/ — The “Luxury Cosmetics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.

The global luxury cosmetics market reached a value of US$ 47.35 Billion in 2021. Looking forward, the publisher expects the market to reach a value of US$ 64.55 Billion by 2027, exhibiting a CAGR of 5.3% during 2021-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Luxury cosmetics are manufactured using premium ingredients and they are widely available in sophisticated packaging. They comprise skincare, haircare, makeup products and fragrances that are sold at a higher price as compared to the drugstore cosmetics. They offer high-end quality, consistency and longevity , which have a noticeable effect on the skin. Some of the variants can effectively clean the top layer of the skin without causing damage and aid in preventing negative environmental impact.

Due to a rise in the disposable income levels of individuals, especially in developing regions, there is an increase in the demand for luxury cosmetics. This, along with the growing awareness about the benefits of using luxury cosmetics, represents one of the key factors driving the market.

Additionally, there is a rise in the penetration of the internet, which has resulted in the expansion of the e-commerce industry across the globe. This, coupled with the wide availability of luxury cosmetics through online and offline distribution channels, is propelling the growth of the market.

Moreover, the escalating demand for halal cosmetics among consumers due to the presence of powerful actives and proven vegan ingredients is positively influencing the market. Besides this, the rising utilization of luxury cosmetics to solve hair and skin related problems, such as hair fall, dandruff , skin rashes, and acne, is offering lucrative growth opportunities to …

Full story available on Benzinga.com



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