Rockville, MD -- (SBWIRE) -- 04/02/2018 -- The Fact.MR report on global mass beauty & personal care products market projects that the market will reach a value of US$ 295 Bn by the end of 2017. Affordable procurement of special materials, coupled with increasing awareness on benefits of adopting personal care products in daily routines will continue to draw consumers towards such products. By the end of 2022, the sales of mass beauty & personal care products will have surpassed US$ 420 Bn, growing at US$ 7.4% CAGR.
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Mass beauty & personal care products can be defined as products that fall into the wide range of affordable personal care and beautification goods. These products are directed to appeal to the masses, and hence they are not available at premium prices. Consumers use mass beauty & personal care products in their daily routines to maintain an appealing physical appearance and personal hygiene.
Urban cultures are known for their heavy emphasis on physical appearances, which is why beauty & personal care products have now become a must-have for the masses. Increasing penetration of internet has also propelled the adoption of beauty & personal care products in rural settings. With social media, the demand for mass beauty & personal care products is soaring without struggle. Leading cosmetic giants are actively expanding their product portfolio to cater to diverse hygienic needs of consumers, and at the same time, the consumers are encouraging beauty retailers by requesting new grooming products. Going forward, the global market for mass beauty & personal care products is likely to witness increasing participation of consumers in development of new products, which will be made to treat their custom needs of personal care.
Rising Retail Sales of Mass Beauty & Personal Care Products
With increasing penetration of e-commerce websites, leading retail chains in the global mass beauty & personal care products market are striving to uphold their dominance. By partnering with prominent manufacturers, retail chains are attracting consumers through direct sales of mass beauty & personal care products. The report observes retail outlets as the largest sales channel for mass beauty & personal care products through 2022.
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Hypermarkets, on the other hand, are drawing customers through flat discounts and cost-effective bulk purchases. The e-commerce sales of mass beauty & personal care products will showcase an impressive growth at 6.5% CAGR.
Competition Tracking
A competitive landscape of the global mass beauty & personal care products market is included in the report, which profiles companies such as Kao Corporation, The Estée Lauder Companies Inc., Loreal Group, Revlon, Unilever, Avon, Procter & Gamble, Beiersdorf AG, Mary Kay and Shiseido. These manufacturers are expected to upgrade their offerings by considering the rising proliferation of organic cosmetics. Although, maintaining the affordability of mass beauty & personal care products will be a key challenge, especially when adoption of advanced production techniques increases initials costs of manufacturing. In the long run, a majority of these companies are likely to shift their manufacturing units in low-wage and high-resource parts of the world such as the Asia-Pacific excluding Japan (APEJ) region. Owing to emergence of a strong middle class in China and India, this region is expected to become one of the most prominent region for manufacturers globally.
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