Online Beauty and Personal Care Products Market

The online beauty and personal care products market accounted for US$ 35.32 billion in 2019 and is estimated to be US$ 238.5 billion by 2029 and is anticipated to register a CAGR of 21.3%.

The report "Global Online Beauty and Personal Care Products Market, By Product Type (Skincare, Haircare, Oral Hygiene, Bath and Shower, Color Cosmetics, Male Grooming Products, Fragrances & Deodorants, Sun Care Products, Baby and Childcare Products, and Depilatory Products) and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.

Key Highlights:

• On May 2020, Amorepacific Corporation -Global Beauty Company announced a partnership with the Australian luxury skincare company RATIONALE Group. This partnership aims to strengthen its luxury portfolio, as well as to secure leadership in the personalized cosmetics category.
• On May 2020, Shiseido Company, Limited launched a new sustainable skincare brand developed with social responsibility and environmental considerations in mind called BAUM. The products have been formulated without parabens, silicones or synthetic colorants, and blended with tree-derived natural fragrances.

Analyst View:

Rapid growth in internet technology and access to smart devices

Quick and easy access to several online shopping sites through phones and PCs and the presence of popular beauty & personal care brands is boosting the target market growth globally. Secured online payments, easy navigation, customer support, user-friendly website designs, and easy return policy are some of the key factors projected to boost the global market growth.

A large number of large-scale and small-scale vendors

Prominent vendors are focusing on launching products including ingredients derived from organic and natural sources to strengthen their revenue generation. The growing scope of the espousal of m-commerce (mobile-commerce) and network marketing is anticipated to be helpful for these market players in the coming years. Furthermore, manufacturers are focusing on opening new retail outlets to expand their distribution channels, vast geographic presence, production facilities, and increase their earnings.

Key Market Insights from the report:      

The global online beauty and personal care products market accounted for US$ 35.32 billion in 2019 and is estimated to be US$ 238.5 billion by 2029 and is anticipated to register a CAGR of 21.3%. The market report has been segmented on the basis of product types and regions.

• By product type, the skincare products segment is projected to lead the other segments in the global market. Skincare products include body lotions, facial products, sunscreens, foot creams, etc., that help the skin to prevent several skin problems such as aging and skin damage. A growing number of beauty and personal care brands and new features added to online platforms to enhance buyers’ experience is expected to boost the segment growth in the coming years.
• By region, Asia Pacific estimated for the highest share in the market in 2018, which is mainly driven by increased demand for fragrances and colored cosmetics coupled with the presence of new brands, and consumer experimentation with new products.

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Competitive Landscape:

The prominent player operating in the global online beauty and personal care products market includes L’Oréal, Revlon, Inc., Unilever, Procter & Gamble Company (P&G), CHANEL, SHISEIDO, AVON, Estée Lauder, Johnson & Johnson, and AmorePacific Corporation.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Article source: https://article-realm.com/article/Internet-Business/Auctions/26471-Online-Beauty-and-Personal-Care-Products-Market.html