Albany, NY -- (SBWire) -- 10/28/2016 --Rising sales of luxury products and growing middle-class aspirational spending is driving the growth of the global premium cosmetics market. Technavios market research analysts project the market to reach over USD 126 billion in revenues by 2019.
Manufacturers are expanding the luxury segment to cover full spectrum of the cosmetics market, including bath products to nail polishes. Designers such as Marc Jacobs and Tom Ford are extending their presence in the premium beauty segment.
For instance, Marc Jacobs has opened a luxury store in Manhattan dedicated solely to fragrances and other cosmetic products. The likes of Gorgio Armani, Michael Kors, and Tory Burch have teamed with the top industry players to set up different product portfolios. The rising sales of premium products are also witnessed in the emerging upper middle class in APAC, Middle East, and Africa.
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The premium sun care segment is one of the top growing segments in the premium cosmetics market, and it is expected to foresee a positive growth during the forecast period. One of the major drivers for this market is the growing health and wellness trend worldwide.
Geographical segmentation of the global premium cosmetics market
- Americas
- Europe
- APAC
- MEA
Europe emerged as the second largest region of the global premium cosmetics market in 2014 regarding the retail value sales. Countries like UK, France, UK and France topped the market in this region. In the color cosmetics segment, in Germany, LOral continued to lead the market in both mass and premium segment. In the premium category, LOral's Lancme brand was one of the top selling products in 2014.
Key leading vendors analyzed by this report
- Coty
- Chanel
- Estee Lauder
- KAO Corporation
- LOreal
- LVMH
- Shiseido
Other prominent vendors in this market include Amway, Clarins, Markwins Beauty Products, Proctor and Gamble, and Unilever.
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Key questions answered in the report include:-
- What are the key factors driving the global premium cosmetics market
- What are the key market trends impacting the growth of the global premium cosmetics market
- What are the various opportunities and threats faced by the global premium cosmetics market
- Trending factors influencing the market shares for EMEA, APAC, and Americas
- Key outcome of the five forces analysis on the global premium cosmetics market
- Growth forecast of the global premium cosmetics market until 2019
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Global Premium Cosmetics Market Is Projected to Reach over USD 126 Billion in Revenues by 2019
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