27 February 2019, The global cosmetics market is anticipated to witness significant growth in the coming years owing to growing need for anti-ageing products among men and women.
Manufacturers are expected to introduce cosmetic products for both men and women as per their needs and skin types.Skin-care products include creams, face masks, and peels, which reduce wrinkles and add freshness to an individual’s skin.
Hence, manufacturers are likely to produce natural products to gain traction among consumers, which can augment market growth in the coming years.
Moreover, overall rise in GDP across various regions has led to an increase in disposable income among individuals, which could, in turn have a positive impact on market growth.Irregular supply of raw materials used to make organic cosmetic products can hamper market growth.
Skin care, makeup and color, hair care, bath and shower products, and fragrances and deodorants are the key product types in the market.North America is a leading region in the market owing to growing consumption of skincare products, which could be attributed to increasing number of working women.
Moreover, presence of effective distribution channels, such as Tesco and Walmart, can have a positive impact on market growth.