The Europe Premium Cosmetics Market would witness market growth of 6.8% CAGR during the forecast period (2019-2025). The European cosmetics industry has a key role in the development of products and is a science-driven and highly innovative market. The R&D projects examine all possible facets of beauty and well-being, from the study of consumer behavior and beauty preferences, the biology of skin, hair, teeth and oral cavity, to new innovative inventions and improved sustainable development methods. Altogether, this helps to find and develop the best ingredients that are healthy for humans and the environment, and then to create or re-develop goods that adapt to the ever-changing demands of customers.
Digitization is one of the main drivers that create a direct impact on the growth of the premium cosmetics industry. Increasing penetration of social media and the internet is serving as a major channel for brand recognition. Demand for personalization in cosmetics is evolving among customers, driven by the flow of information available online. For example, in 2017, Face Gym, a European brand, launched the Make it Bar, where customers can visit the studio and develop their own face serums, tailored to their specific needs and lifestyle with the help of experts. Innovation is expected to create growth opportunities for new entrants. However, the existence of counterfeit products is a major obstacle to production.
In addition, demand for active ingredients and well-founded efficacy products are boosting sales of the product. Consumer preferences for imported and branded cosmetics are mainly driven by brand name, product safety, and quality. The accessibility of a variety of products, together with increasing disposable income, is expected to drive market growth in the near future.
Based on Product, the market is segmented into Skincare, Makeup, Hair care, Fragrance, and Other Premium Cosmetics. Based on Distribution Channel, the market is segmented into Offline and Online. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: Premium Cosmetics Market in Europe is expected to register a CAGR of 6.8% during the forecast period (2019-2025)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include L'Oreal Group, Kao Corporation, Shiseido Company, Limited, Estee Lauder Companies, Inc., LVMH SE (Christian Dior), Revlon, Inc. (MacAndrews & Forbes), The Procter and Gamble Company, Coty, Inc. (JAB Cosmetics B.V.), Ralph Lauren Corporation, and Chanel S.A.
Market Segmentation:
By Product
By Distribution Channel
By Country
Companies Profiled
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