COSMETICS MARKET ANALYSIS

Market Challenges And Opportunities

• Side- effects of harmful chemicals

Global Cosmetics Market Drivers:

Increasing consumer spending on cosmetics & personal care products

The consumption pattern among the young population has changed with an aspiration to look good, which is expected to drive personal care products and, consequently, cosmetic products. Moreover, the growing youth population, increasing adoption of social media platforms, launch of innovative products, and easy availability of the products across the globe are also expected to support the growth of the global cosmetics market.

Increasing working women population in emerging countries

The growing working women population has led to an increased per capita disposable income of the consumers, which has changed consumer spending behavior. Cosmetics play an important role in enhancing one’s beauty and physical appearance. Improvements in the current lifestyles of the individuals are anticipated to drive the sales of cosmetics in the near future. The sales of skin cosmetics, eye cosmetics, and lip cosmetics are expected to be significant owing to the daily usage of the products by the women

Global cosmetics market opportunities:

Increasing demand for natural & organic cosmetics

The phenomenon of ‘returning to original nature’ is becoming a fashion statement with more and more people interested in buying only chemical-free products. Increasing awareness of harmful ingredients present in cosmetics might restrict market growth. The adoption of organic and natural cosmetics will result in narrowing down the scope of the cosmetics market.

Influence of social media and innovative marketing strategies

Social media is playing a critical role in driving the demand for cosmetics, especially among the youth, who are nowadays actively participating in social media for information. Thus, blogs posted on social media platforms, in favor of cosmetics, are highly influencing the growth of the market. Additionally, startups are also increasing awareness about cosmetic products, predominantly through social media campaigns. Thus, social media is playing a vital role in the growth of the global cosmetics market. It is considered an effective interactive strategy as it enables consumers to build a relationship with the brand. . So, the increasing growth of the e-commerce platform is expected to offer lucrative opportunities to the manufacturers of cosmetics in the global market.

Global Cosmetics Market Restraints:

Side- effects of harmful chemicals

There are harmful ingredients or chemicals present in professional and over-the-counter products that include resorcinol, ethanolamine (MEA), ammonia, persulfates, parabens, propylene glycol, and metals such as nickel. , hair color consists of dyes, modifiers, antioxidants, and fragrance, in addition to a variety of chemicals existing in slight proportions that impart a specific quality to the hair, such as softening it. Many of the chemicals used in hair color might prove toxic to the end user leading to irritation or allergic reactions. Increasing awareness of harmful ingredients present in cosmetics might restrict market growth