Premium Cosmetics Market- Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018 – 2026
Premium cosmetics are manufactured by utilizing certain specialty ingredients. These cosmetics are usually accompanied with some value addition such as organic ingredients including essential oils, plant extracts, microalgae, and pearl extracts. These products usually cost higher than other ingredients and thus are responsible for the high price of premium cosmetics. Premium products are made using organic ingredients such as essential oils, plant extracts, microalgae, and pearl extracts, which usually cost higher than other ingredients. Request For Sample Copy of this Research Report : https://www.coherentmarketinsights.com/insight/request-sample/1447 Increasing beauty consciousness among the populace in emerging economies is boosting growth of the premium cosmetics market. Increasing inclination of males towards overall body care coupled with social trends related to beauty and cosmetics, is also fueling market growth. According to Coherent Market Insights, the men’s grooming products sector is expected to witness significant growth, exhibiting a CAGR of 8.91% over 2018 and 2025. A major challenges faced by the premium cosmetics market include strict regulations regarding chemical ingredients used in premium cosmetics. Among distribution channels, the online segment is expected to garner significant traction over the forecast period. Growing online retail around the world is responsible for growth of this segment. According to India Brand Equity Foundation Report (IBEF), in 2016, over 62% of young consumers in major economies prefer online stores for buying beauty & grooming products. Moreover, ease of access and reliable services of giant online retail stores such as Alibaba Group (China), Amazon Inc. (U.S.), and Flipkart (India) play a major role in growth of the online segment. Among product type, the skin care segment is expected to hold the largest market share over the forecast period. Leading market player such as L’Oreal S.A. generated 37% of its annual revenue in 2017 from its skincare segment. The company has identified the segment as a high growth segment and launched multiple products to boost its sales. Multifunctional products, which incorporate the properties of different products such as skincare, make-up into one are gaining significant traction. For example, Dior’s lip care product Color Reviver Lip Balm is