What makes premium cosmetic market a luxury market?

 


Consumer preference is evolving from traditional or mass-produced cosmetics to premium cosmetics as they become more aware of premium ingredients and their beneficial effects on the skin. Premium cosmetics are likely to be popular for problems such age spots, acne, and pigmentation, which will help the market grow. In addition, the demand for active substances and products with proven efficacy is increasing. Brand identity, product safety, and pricing are all factors that influence consumer preference for imported and branded cosmetics. In the near future, the availability of a wide range of products, together with increased disposable income, is expected to boost market expansion.

The premium cosmetics market is growing due to rising demand for anti-aging treatments and long-lasting makeup. Demand is also being boosted by the growing popularity of mini-sized cosmetics among consumers. One of the primary development drivers for the industry is the rising demand for cosmetics among males. In addition, product variety, such as gender-neutral and high-end cosmetics for males, is increasing. The expansion of the men's grooming sector is also fueling demand for high-end cosmetics designed specifically for males. This element is also expected to provide growth prospects for brands that specialise in men's cosmetics.

Digitalization is one of the most important factors influencing the premium cosmetics market's growth. The increasing use of social media and the internet as a means of spreading brand awareness is a big factor. Consumer demand for personalisation in cosmetics is growing, aided by the abundance of information available online. For example, Face Gym, a European brand, established the Make it Bar in 2017, where customers can come to the studio and, with the help of professionals, build their own face serums that are tailored to their specific needs and lifestyle. New entrants should be able to grow as a result of innovation. The prevalence of counterfeit products, on the other hand, is a big impediment to expansion.

Over the forecast period, makeup is expected to grow at the fastest rate of 8.1 percent. Increased demand for organic and natural colour cosmetics to avoid skin infection and irritation is credited for the market's growth. The emergence of waterproof and sweatproof makeup products designed specifically for hot and humid weather conditions is also driving rising demand for high-end cosmetics.

Comments

Post a Comment

Popular posts from this blog

What is eHealth? What are eHealth software services?

Image
  Electronic health, or e-health, is a broad term that refers to the use of technology, particularly electronic communication, in healthcare settings. The term "eHealth" is often used to characterize health efforts that use the internet to deliver health data, information, or services. Software and services that handle, transmit, store, or record information used in the delivery of healthcare treatment, payment, or record keeping are referred to as eHealth applications. eHealth applications, for example, often use the Internet to transmit and retain patient data for a provider or payer. Doctors, hospitals, and insurance companies utilize these eHealth applications to keep track of their patients' health information. The application of information technology to healthcare is known as HIT. This term refers to the electronic systems used by healthcare professionals (and occasionally patients) to store, share, and analyses health data. It's another term for the coordi
Read more

In what ways is the market for antistatic agents’ market is expanding?

Image
  Antistatic agents are used to treat materials or their surfaces in order to reduce or eliminate static electricity buildup. By absorbing moisture from the air, antistatic agents make the surface or the material itself slightly conductive, preventing the formation of static charges and preventing dust fixation. Antistatic agents' various benefits, such as reducing electrostatic buildup or improving conductivity, preventing dust and other pollutant attraction, very effective dispersion on films or molded articles, and lowering surface resistivity, are expected to benefit the overall anti-static agent’s industry demand over the forecast period. Market Challenges The packaging and electronics industries generate large amounts of waste that are not only difficult to dispose of but can also have a negative impact on the environment. Plastic pollution on the earth's surface has a negative impact on human life and wildlife habitats. Because plastics decompose slowly, they endange
Read more

HPV & Pap Testing Market Overview, Scope and Trends

Image
Pap tests (also known as Pap smears) are used to detect cancers and precancers in the cervix. Precancers are changes in cells caused by the human papillomavirus (HPV). If left untreated, these abnormal cells may develop into cervical cancer. An HPV test detects HPV in cervical cells. Market Overview The HPV & Pap testing market was valued at around USD 3,550 million in 2020, and it is expected to reach USD 5,180 million by 2026, growing at a CAGR of 6.5 percent between 2021 and 2026. The market is being driven by an increase in the number of cervical cancer cases worldwide, an increase in the number of cervical cancer screening programmes, and the introduction of a new cervical cancer screening test. With the rising COVID-19 pandemic globally in 2020, various elective medical procedures, including cancer screening, were found to be largely put on hold in order to prioritise other urgent needs and reduce the risk of COVID-19 spread. This has resulted in a significant decrease i
Read more