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Pune, India, March 08, 2023 (GLOBE NEWSWIRE) — The global luxury cosmetics market size is set to experience dynamic growth in the forthcoming years owing to the rising demand for premium-based beauty products, finds Fortune Business Insights™ in its report, titled “Luxury Cosmetics Market, 2023-2030”. Over the years, there has been an increasing demand for premium-based beauty and personal care products from the majority of people across the world owing to the constantly changing fashion trends and improved standard of living of people worldwide. This is a major reason fuelling the growth of this market. For instance, in April 2020, Avon Products Inc. introduced a cannabis plant-based ‘Sativa oil’ collection, including the products such as day creams, cleansers, and hand and body lotions to cater to the consumers’ need for sustainable beauty products.

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Report Scope & Segmentation:

Fortune Business Insights™ lists out all the luxury cosmetics market companies are:

• L’Oréal S.A.
• Coty Inc.
• Shiseido Company Ltd.
• Estee Lauder Companies
• Puig, Revlon Inc.
• Kao Corporation
• The Proctor & Gamble Company
• Unilever Plc.
• Chanel International B.V.
• Pat McGrath Cosmetics LLC.

Drivers/Restraints:

Increasing Urbanization Rate Worldwide to Fuel the Market

In recent years, the world has observed a substantial increase in the urbanization rate, which has resulted in the rising disposable income of the people across the world. Hence, most of the people are inclined towards buying luxurious products as per their requirements. Thus, this is an important factor driving the growth of this market.

Report Aim & Scope:

• An overview of the market based on geographical scope, segmentation, and financial performance of key players is presented in the report.
• The report presents the estimated market size by the end of the forecast period. Additionally, the historical and current market size is also examined in the report.
• Based on various indicators, the Year on Year Growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
• The report presents current trends in the industry and the future scope of the market in North America, Asia Pacific, Europe, Latin America and Europe.
• The various parameters accelerating the growth of the market are incorporated in the research report.
• The report analyzes the growth rate, market size, and valuation of the market during the forecast period.

Browse Detailed Summary of Research Report:

https://www.fortunebusinessinsights.com/luxury-cosmetics-market-104641

Which segment is expected to lead the global Luxury Cosmetics Market during the forecast period?

The luxury cosmetics market is segmented on the basis of type, product type, end-user and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

By Product Type

• Skin Care
• Hair Care
• Make-up
• Others

By Distribution Channel

• Hypermarkets & Supermarkets
• Specialty Stores
• Online Stores
• Others

By End-User

• Female
• Male

 By Geography

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

Regional Insights:

Increasing Number of Cosmetics Manufacturing Companies to Boost the Asia Pacific Market Growth

Asia Pacific region is projected to dominate in the luxury cosmetics market share on account of the increasing number of cosmetics production companies in the countries such as India and China.

Europe is anticipated to grow rapidly in this market owing to the increasing production capacity of the luxury cosmetics items in the countries such as Italy, Germany, and the UK.

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Luxury Cosmetics Market Size Highlights of the Report:

• Market Penetration: Comprehensive information on the product portfolios of the top players in the Luxury Cosmetics Market.
• Product Development/Innovation: Detailed insights on the upcoming technologies, RandD activities, and product launches in the market
• Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
• Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Luxury Cosmetics Market

Competitive Landscape:

Increasing Innovation of Luxury Cosmetics by Key Players to Animate Competition

The prominent companies in the luxury cosmetics market are focusing on the production of innovative luxury cosmetic items in order to meet the high demand for such products from the consumers worldwide. This has resulted in the increasing competition among key companies which will enable them to broaden their business horizons and widen their market position.

Industry Development:

• October 2020: Groupe Rocher, a cosmetics company acquired Romania based cosmetics retailer SabonNYC to expand its luxury cosmetics business in the Romania and Czech Republic.

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About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

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