Luxury Cosmetics Market Size, Share, Trends, Analysis, Growth 2030

The global luxury cosmetics market size was worth around USD 48.37 Billion in 2022 and is predicted to grow to around USD 75.16 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 5.67% between 2023 and 2030.

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The report analyzes the global luxury cosmetics market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the luxury cosmetics industry.

Global Luxury Cosmetics Market: Overview

Cosmetic products have increasingly become a more important part of human life for cleansing and enhancing the physical appearance of skin. Within the cosmetics industry, luxury or prestige cosmetic products are dominating the market because of the availability of a wide range of natural, organic, and chemical-free products. Cosmetics manufacturers use high quality ingredients that are also organic to improve the composition of the luxury cosmetics. Luxury cosmetics comprise of fragrances, hair care, skincare, and makeup products.

Global Luxury Cosmetics Market: Growth Factors

Since the emergence of internet has given birth to the e-commerce industry, majority of customers prefer to buy cosmetics products from online platforms due to convenience, ease, and simplicity of online stores. Luxury cosmetic brands are implementing various strategies to develop user-friendly websites. They are also providing a wider spectrum of organic products, extending their operations to stabilize their position in the market. These growth drivers are stimulating the global luxury cosmetics market outlook.

Also, people are becoming more aware regarding their physical appearance. With the need to appear stylish and elegant, the global luxury cosmetics market size is set to shoot up. The changing hair and fashion trends, growing number of fashion influencers on platforms such as YouTube, and rising number of hair stylists, makeup artists, & skin care experts are some other factors expected to boost the expansion of the global luxury cosmetics market outlook in the forthcoming timeframe.

However, the increasing presence of counterfeit products in the market is a major factor arresting the growth of the market. Yet the market will gain momentum as several industry players have been strategizing branding practices through social media platforms for better reach. The rising demand for halal luxury cosmetics is further predicted to increase market opportunities for brands to propagate their operations over the globe.

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Global Luxury Cosmetics Market: Segmentation

The global luxury cosmetics market is segmented by type, product type, distribution channel, end-user, and region. Based on the type, the market is segregated into organic luxury cosmetics and conventional luxury cosmetics. The organic segment is projected to gain remarkable pace due to higher preference of natural and chemical-free cosmetic products. On the basis of product type, the global luxury products market has been classified as hair care, skincare, fragrances, and makeup. The skincare segment might dominate the market because of higher occurrences of skin conditions such as acne and dark circles.

Based on distribution channel, the global luxury cosmetics market can be categorized into supermarkets & hypermarkets, e-commerce, specialty stores & monobrand stores, and others. E-commerce distribution channel is likely to account for a major chunk of the market, attributable to the development in internet infrastructure, high growth in the number of smartphone users in the recent past, and availability of fast delivery services. On the basis of end-user, the market is bifurcated into male and female. The male segment is expected to soar due to the rising awareness about grooming, skincare, and hair care among men of all ages.

Luxury Cosmetics Market : Report Scope

Global Luxury Cosmetics Market: Competitive Players

The prominent market players dominating the global luxury cosmetics market are focusing to expand their operations, bring innovative & attractive products to the market, and expand their product line. They are also implementing strategies such as collaborations, partnerships, and mergers & acquisitions to meet the growing need for luxury cosmetics among the customers and improve their market position.

Some of the major companies competing in the global luxury cosmetics market are Oriflame Cosmetics AG, Coty, Inc., Ralph Lauren Corporation, LVMH SE (Christian Dior), Estee Lauder Companies, Inc., Puig SL, Shiseido Company Limited, and LOreal Group.

Global Luxury Cosmetics Market: Regional Analysis

Asia Pacific is expected to develop drastically over the forecast timeframe, owing to the factors such as increased urbanization, expanding disposable incomes of the people, improving standard of living, growth in the upper-middle class populace, and prevalence of skin-related problems such as acne, skin lesions, and blackheads & whiteheads in humid countries like India. Additionally, the demand for organic and natural cosmetics is notably rising due to the rising online retail platforms.

Europe can account for a significant portion of the global luxury cosmetics market share, especially the skincare sub-segment. European customers are extremely dedicated to their skincare routine and tend to gravitate toward organic, premium quality, and natural products. The global luxury cosmetics market will benefit from this segment due to increasing expenses on beauty products via online platforms and growing utilization of social media websites which influence an individual, particularly teenagers, towards looking better.

The global Luxury Cosmetics market is segmented as follows:

By Type

• Organic Luxury Cosmetics
• Conventional Luxury Cosmetics

By Product Type

• Hair Care
• Skincare
• Fragrances
• Makeup

By Distribution Channel

• Supermarkets & Hypermarkets
• E-Commerce
• Specialty Stores & Monobrand Stores
• Others

By End User

• Male
• Female

Global Luxury Cosmetics Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.