Northbrook, IL 60062 -- (SBWIRE) -- 06/23/2022 -- The cosmetic products market is estimated to grow with the increasing demand for skin care products, color cosmetics, hair care products, and other such cosmetics. The changing fashion trends, rising standards of living, and globalization of the cosmetic industry are driving the cosmetic products market. The leading companies in the market are involved in technological advancements and innovations to develop new products.

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The cosmetic products market is highly fragmented with huge multinational companies engaged in the manufacturing, distribution, and retailing of cosmetic products. The leading players in this market include Procter & Gamble Co. (U.S.), the L'Oreal Group (France), The Estée Lauder Companies, Inc. (U.S.), and Unilever PLC. (U.K.). It also includes players such as Shiseido Company Ltd. (Japan), Avon Products Inc. (U.S.), and others.

The leading players accounted for one-third of the market share in 2013. The market is competitive, with players offering a wide range of products on the basis of their application. The companies continuously invest in R&D to introduce innovative products with multiple functions and advanced formulations to cater to their customer demands. They also invest in expansion of their production facilities in countries that have market potential, to enhance their global reach.