Personal Care Products Market Share, Size, Trends, Industry Analysis Report, 2024 - 2032
Personal Care Products Market Share, Size, Trends, Industry Analysis Report, 2024 - 2032

Personal Care Products Market Share, Size, Trends, Industry Analysis Report, By Type (Skin Care, Men's Grooming, Hair Care, Body Care, Lip Care, Oral Care, Color Cosmetics, Bath & Shower, Fragrance), By Distribution Channel; By Consumer, By Region; Segment Forecast, 2024 - 2032

  • Published Date:Jan-2024
  • Pages: 114
  • Format: PDF
  • Report ID: PM1284
  • Base Year: 2023
  • Historical Data: 2019-2022

Report Outlook

The global personal care products market size was valued at USD 566.32 billion in 2023. The market is anticipated to grow from USD 609.93 billion in 2024 to USD 1111.49 billion by 2032, exhibiting the CAGR of 7.8% during the forecast period.
 

The effortless availability of multiple brand cosmetic items by means of sales channels likely specialty stores, beauty salon chains, and pharmacies store has bestowed the personal care products market development in value sales.

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Moreover, the increasing attention of men consumers’ category on grooming and skincare to upgrade their social appearance and take healthier care of their hair, beard, and skin is projected to showcase solid opportunities for growth. The surge in investments in the R&D of advanced and coherent product range boost the market growth during the forecast period.

Earlier personal care products were more dedicated to the female end user, and the commencement of men's grooming product range has purposefully fostered the market strength, therefore performing as evolving trends in the personal care products market. Additionally, the launch of revamped and advanced products in the women's segment, such as versatile and embellishing products is anticipated to propel the personal care product business in the coming years.

Major industry players have overwhelmed the market with numerous hair and skin products in contemplation to serve consumer needs in both male and female categories. Potential marketing, the expensive casting of celebrities in advertisements, and dedicated media promotion are also estimated to exploit the market.

The rising living standards, the optimistic possession of personal care products on dignity and social attention, and the unspectacular consumer move toward luxury and ultra-premium brands are factors that are likely to provide promising market growth during the projection period. Excessive use of chemicals in personal care products causes long-term effects on the body like hair fall, greying, pimples, darkening, allergy, and other side effects which causes a consumer shift towards trusted and chemical-free products.

COVID-19 pandemic has badly affected the personal care products sector, directly influencing the personal care components market. The huge decline is caused due to the complete lockdown stow by many countries to strictly obey social distancing rules. The financial slowdown across the world is also driving the loss of business. The closedown of manufacturing plants has unfavorably influenced the personal care products market. The pandemic also strikes buyers spending on buying necessary items.

The consumer expenditure pattern shifted towards economical personal care range rather than luxury ones. The supply Demand chain, cut in optional expenses like hair styling products, fragrances items, and products used in make-up in the personal care market has drastically reduced as a consequence of COVID-19 but for a short term. Urban consumers are majorly buying general necessities such as hand wash gel, soaps, and sanitizers. The worldwide lockdown has manipulated consumer behavior toward the personal care products sector.

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Industry Dynamics

Growth Drivers
Expanding urbanization, the surge in the professional class of women, transforming lifestyles, and growing awareness of hygiene and safe skin & hair care are vital drivers of the personal care products market. The spreading awareness of sanitation and personal health protection has increased the demand for personal care products worldwide. Lifestyle upgradation of consumers in China, India, and Brazil, and the growth in purchasing power are factors that have propelled the tremendous demand for personal care products in these countries.

For instance, expensive skin and hair care products were only available in urban areas, and in developed countries are now one can easily buy them in tier-2, and tier-3 cities as well. This big shift in consumption of fashion is driving the personal care products market during the forecast period 2022-2030.

Report Segmentation

The market is primarily segmented based on by type, distribution channel, consumer type, and Regions.

By Type

 Distribution Channel

Consumer Type

By Region

  • Skin Care
  • Men's Grooming
  • Hair Care
  • Body care
  • Lip Care
  • Oral Care
  • Color Cosmetics
  • Bath and Shower
  • Fragrance
  • E-Commerce
  •  Direct Selling
  • Departmental Store
  • Health and Beauty Store
  • Convenience Store
  • Hypermarket/Supermarkets
  • Retail Stores
  • Others
  • Male
  • Female
  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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The skincare segment holds the majority share of 7.9% personal care products market in 2021

The skincare accounted for the largest revenue share in 2021, referable to the developing vogue of products based on herbal constituents such as leaves extract, plant-based, and fruit extricate. Skincare products have many attributes like body cell repairing and skin pigments brightening, wrinkles cure and reducing symptoms of aging, decreasing the contingency of acne and dark spots removal, and preserving skin healthy and juvenile. These wonderful advantages propel the skincare division's market growth & opportunity.

The hair wellness segment is anticipated to register a robust CAGR during the estimation period. Latest hair care products are applied to cure multiple hair messes like split ends, hair fall, dandruff, dry or itchy scalp, and frizzy hair. The attainability of a all-round variety of hair care products, such as hair serum, hair colorants, conditioner, shampoo, hair gel, hair oil, and hair wax, surprise the market development over the projection period.

Specialty stores occupied a strong market share in 2021

Specialty stores held a mammoth share in 2021, owing to the booming presence of these type of stores around the world. Specialty stockpiles are attributed to providing products requested by customers as they just offer personal care products demanded by the end users. Moreover, these stores are biased to help customers choose the suitable product for their requirements average understanding such factors projected the growth of this segment.

Supermarkets & hypermarkets have embellished priority choices for the purchase of personal care products as they provide a vast range of new and branded items with quality assurance under one roof and are easy to reach with the help of the internet (Google Maps).

The e-commerce channel, on the other side, is forecasted to register lucrative growth from 2022 to 2030. Increasing internet usage and targeted audience by companies to showcase products via Adwords, social media promotion, and mobile-based ads notification fueled segment growth. Also, online competition between players offers heavy discounts & free delivery & exchange facilities will further boost the market status of personal care products in the segment.

APAC region held the prominent revenue share in the global market in 2021

Asia Pacific region dominates the global market and is also showcased to swift growth attributed to the blooming figure of working group women in countries of the region and their interest in purchasing luxury beauty and advanced personal care products. Additionally, the smart young community in APAC countries with a comfortable approach to the internet is anticipated to cast gigantic opportunities for the regional market over the estimation period.

The European personal care products market is propelled by the growing attention of purchasers toward organic-based cosmetics, specifically in Germany, the United Kingdom, and France. In North America, citizens are enthusiastic to pay huge payments for personal care products that strengthen their social appearance as consumption of junk food in the region is on a higher note. The strong spending capability of consumers in the regions and the existence of key players will boost the market situation.

Competitive Insight

Some of the key players operating in the global personal care products include Unilever, Nouryon, Kao Corporation, Revlon, The Estée Lauder Companies Inc., BASF SE, Oriflame Cosmetics S.A., Coty Inc., Shiseido Co. Ltd., Avon Products Inc., Lonza, Ashland, L'Oréal S.A., Evonik Industries AG, Procter & Gamble, and Others.

Recent Developments

In November 2021, Shiseido, one of the leader cosmetics developers in the global market, showcased Inryu, as the name suggests it was a swallowable beauty product that focuses to improve skin health from the innermost.

In September 2021, Coty Inc., a famous personal care product company, publicize the Kylie Baby, a clement, safe, and soft infant care product by Kylie Jenner. These products were obtainable solely on the company's website.

In July 2019, Procter & Gamble inaugurate new product range under brand “My Black Beautiful” in the Europe region. The products involve its fortifying conditioner, Tangle Slayer conditioning creams, and hydrating sulfate-free shampoo.

Personal Care Products Report Scope

Report Attributes

Details

Market size value in 2024

USD 609.93 billion

Revenue forecast in 2032

USD 1111.49 billion

CAGR

7.8% from 2024 - 2032

Base year

2023

Historical data

2019 - 2022

Forecast period

2024 - 2032

Quantitative units

Revenue in USD billion and CAGR from 2024 - 2032

Segments covered

By Type, By Distribution Channel, By Consumer, and By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Key companies

Unilever, Nouryon, Kao Corporation, Revlon, The Estée Lauder Companies Inc., BASF SE, Oriflame Cosmetics S.A., Coty Inc., Shiseido Co. Ltd., Avon Products Inc., Lonza, Ashland, L'Oréal S.A., Evonik Industries AG, Procter & Gamble, and Others.