The Europe Luxury Cosmetics Market would witness market growth of 4.9% CAGR during the forecast period (2019-2025). The demand for luxury cosmetics on the global platform is increasing rapidly. Market players are inclining towards key developmental strategies like product launch and acquisitions to signify their existence in the luxury cosmetics market. Companies are introducing new product innovations backed by robust R&D to lift the demand for luxury cosmetics. Additionally, the developing organic cosmetic products sector has added to the growth of the overall luxury cosmetics market.
The women segment, on the basis of end-users, accounted for the highest share in the luxury cosmetics market and men segment developed at the highest growth rate. The specialty store segment belonging to the distribution channel recorded a huge market share. However, in the years to come, the e-commerce segment would propel lucratively.
Based on product type, skincare sub-segment recorded the highest contribution in the overall luxury cosmetics market share. This trend has been linked to the increased focus on skincare routines and health awareness among individuals. The growing number of product launches in the segment has initiated multiple choices for consumers, which serve to their specific requirements. The launches have further pushed the growth of the segment in the skincare category.
Market players are keenly interested in both strategic buyers and financial investors, who are eager to spend in groundbreaking organic products as they arise, including those that produce raw materials. As the incidence of health issues connected with traditional cosmetics increased, customers have been forced to move to organic cosmetics. They were particularly common among the millennium. A significant portion of the global supply for organic cosmetics came from customers below 30 years of era.
The Luxury Cosmetics market report has segmented the market on the basis of type, product type, end-user, distribution channel, and region. Organic and conventional products are covered in the type segment. The product type segment comprises skincare, makeup, haircare, and fragrances. On the basis of end-user, the market is categorized into males and females. The distribution channel segment includes e-commerce, specialty/mono-brand stores, supermarket/hypermarket, and others. The regional market is studied across Germany, UK, France, Russia, Spain, Italy and Rest of Europe.
The major market players expanding their reach in the global luxury cosmetics market are L’Oréal, Christian Dior, Shiseido Company, Limited, Puig, Coty Inc., Revlon, Inc., Kao Corporation, Oriflame Cosmetics AG, The Estée Lauder Companies Inc., and KOSé Corporation. The market players are adopting progressive strategies to leverage the opportunities of the market. Companies are focusing on innovative strategies to compete in the market space.
Market Segmentation:
By Type
By Product Type
By Distribution Channel
By End User
By Country
Companies Profiled
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