Mass Beauty & Personal Care Products Market

Mass Beauty & Personal Care Products Market Outlook

The global mass beauty & personal care products market reached a valuation of around US$ 450 Billion in 2020, and is slated to accelerate at a CAGR of 6% to top US$ 800 Billion by 2031.

Demand for oral hygiene products is set to increase at a CAGR of 5% across the assessment period of 2021 to 2031.

Key Insights Provided in Industry Survey:

• Mass Beauty & Personal Care Product Sales Forecasts (2021-2031)
• Growth Drivers and Restraints for Mass Beauty & Personal Care Product Suppliers
• Mass Beauty & Personal Care Products Market Size
• Detailed Segment Analysis of Mass Beauty & Personal Care Products
• Mass Beauty & Personal Care Products Market Share
• Competition Analysis of Mass Beauty & Personal Care Product Manufacturers
• Mass Beauty & Personal Care Products Market Trends in 2022
• Key Innovations of Beauty & Personal Care Products
• Impact of COVID-19 on Mass Beauty & Personal Care Product Demand
• Market Advice for Mass Beauty & Personal Care Product Providers

Consumption Analysis from 2016-2020 Vs Market Outlook 2021-2031

As per Fact.MR – a market research and competitive intelligence provider, the global market for mass beauty & personal care products progressed at a CAGR of over 3% from 2016 to 2020 to reach US$ 450 Billion.

Increasing rate of adoption and rising popularity of beauty & personal care products are prime reasons driving the mass beauty & personal care products market.

Improving quality of life, advantageous results of beauty & personal care on self-esteem, and consumer shift towards vegan mass beauty & personal care products are a few factors that are expected to propel market growth over the forecast period.

Rising dental problems due to wrong eating habits and rise in the popularity of herbal products are driving demand for oral care products, globally. Moreover, increasing premiumization and consumer demand for fragrant mass beauty & personal care products are accelerating market growth.

Considering these factors, the market is projected to register a CAGR of 6% to top US$ 800 Billion by 2031.

How is Evolving Consumer Behaviour for Mass Beauty & Personal Care Products Stimulating Market Growth?

Demand for mass beauty & personal care products is increasing, as consumers become more aware of their health, safety, and security.

Increasing demand for new grooming products is prognosticated to encourage leading mass beauty & personal care products for hair manufacturers to expand their product portfolio. There is still a wide range of hygienic and beauty needs of consumers required to be addressed or catered to.

Manufacturers are prophesied to introduce new offerings in the market to take advantage of the unmet personal care needs of consumers. Vendors could involve consumers as participants in the development of new mass beauty & personal care products. This is envisioned to help vendors to customized mass beauty & personal care products for consumers.

With more people nowadays understanding the need for personal care, rising demand for customized personal hygiene products is fueling market growth.

What are the Key Challenges Faced by Manufacturers of Mass Beauty & Personal Care Products?

Certain restraints are pulling back the growth of the mass beauty products market, globally. Harmful effects of chemicals and synthetic products are key factors challenging the growth of the market. Lack of use of good quality chemical ingredients may cause harm to the skin, which isn’t boding well for market expansion

High manufacturing and marketing costs of safer products, easy availability of counterfeit products, and high competition prevailing among vendors for different product categories are several critical challenges that are hindering market growth.

Which Regional Market is the Most Lucrative for Suppliers of Mass Beauty & Personal Care Products?

Asia Pacific is the global market leader in mass beauty & personal care products. Revenue in the Asia Pacific region is expected to double by 2031.

In the Asia Pacific region, China, India, and Vietnam will offer lucrative growth opportunities to market players, mainly due to the surging millennial population.

Amid the growing occurrence of hair thinning, volume loss, dryness, and many other concerns, hair care products are coming around as the most cost-effective solution to treat these.

Further, surging number of health and wellness-conscious consumers, growing desire for self-care products, and increasing interest in regimens and routines are fueling demand for skincare products in the region.

Increasing demand for mass beauty & personal care products for skin in Brazil, as well as expanding opportunities for mass beauty & personal care product manufacturers in the hair market in Canada, are contributing to global market growth prospects for mass beauty & personal care products.

Country-wise Analysis

What is the Mass Beauty & Personal Care Product Demand Outlook for the U.S.?

Value of the mass beauty & personal care industry in the United States is expected to increase 2.7X by 2031.

Growing prevalence of skin diseases, shifting interest of consumers toward organic and chemical-free products, and increasing personal care spending are key factors driving growth of the mass beauty & personal care products sector in the U.S.

Consistently increasing millennial population in the country's workforce coupled with surging demand for customized mass beauty & personal care products for hair from fashion and entertainment industries is among the most prominent driving factors for the skincare products category.

Will China Offer Increasing Opportunities for Suppliers of Mass Beauty & Personal Care Products?

China is seeing a tremendous increase in demand for mass beauty products. Rise in population along with increase in purchasing power of consumers in China is expected to boost demand for mass beauty & personal care products to avoid skin problems.

Rising awareness regarding cosmetics products such as facial makeup and hairstyling and color products is slated to drive market growth over the next ten years. Demand for multifunctional products is driving market innovation, as price-sensitive customers are going in for those products that provide hydration and protection to the skin.

Growing use of virtual technologies in the country will enhance online shopping among consumers, and is expected to gradually increase sales of mass beauty & personal care products.

Category-wise Insights

Why is the Popularity of Oral Hygiene Products Rising Rapidly?

Other segments are expected to grow slowly, while sales of oral hygiene products are expected to increase 2.2X over the forecast period.

Rapidly altering lifestyles and unhealthy diets, including sugar-rich food, and rising consumption of alcohol and tobacco have made oral health a major public health problem across the world.

According to WHO, oral diseases are a major issue for many nations and affect people lifelong, leading to pain, discomfort, disfigurement, and even mortality.

With rising expenditure on oral healthcare, consumers are now taking more preventive measures, this driving demand for oral hygiene products that are effective.

Will Increasing e-Commerce Penetration Drive Sales of Mass Beauty & Personal Care Products?

The global market is envisaged to find crucial growth prospects on the back of rising Internet penetration. Manufacturers could increase the sales of their mass beauty & personal care products in rural settings with the growing use of e-commerce.

e-Commerce platforms tend to provide more offers and discounts, which pursue consumers to shop online for branded beauty products. In addition, these platforms offer ease of access and a better shopping experience, along with several other benefits. All these factors are predicted to contribute to increased sales of mass beauty & personal care products over the coming years.

Has COVID-19 Impacted Demand for Mass Beauty & Personal Care Products?

A major issue faced by manufacturers during the COVID-19 situation was disrupted supply chains, especially for cosmetics, as during lockdowns, countries closed their borders or raised trade barriers. As a result, mass beauty & personal care product manufacturers and exporters were facing high competition to export their goods.

Furthermore, on-premise sales through supermarkets and convenience stores witnessed a decline due to subsequent lockdowns and closure of retail stores, as individuals have been practicing social distancing measures and avoiding gatherings and outings. However, sales through online retail channels majorly supported market penetration.

Competitive Landscape

The global market for mass beauty & personal care products is highly competitive, with a strong presence of regional and global players.

Mass beauty & personal care fragrances manufacturing companies have spent considerably on improving quality and product innovation in terms of ingredients, functionality, and packaging.

• In May 2020, with stores closed, M•A•C Cosmetics expanded AR (Augmented Reality) try-on for its e-commerce website. Its AR try-on tool comes at a time when shopping habits and the retail environment continue to change post-COVID-19 shutdowns. The company is hoping that its AR-play will be used as an omnichannel tool moving forward. The tool is available for lip and eye products, and the company is expanding the feature to its other range of products.

Mass Beauty & Personal Care Products Industry Report Scope

Report Attributes	Details
Market size value in 2020	US$ 450 Billion
Market forecast value in 2031	CAGR of 6% from 2021 to 2031
Growth Rate	50%
Forecast Period	2021-2031
Historical Data Available for	2016-2020
Key Regions Covered	North America Latin America Europe East Asia South Asia Oceania MEA
Key Market Segments Covered	Type Sales Channel Region
Key Companies Profiled	L'Oreal Procter & Gamble Unilever Shiseido Revlon Beiersdorf AG Mary Kay Johnson & Johnson Inc. Colgate-Palmolive Company The Estée Lauder Companies Inc. Avon Products Kao Corporation

Key Segments Covered in Mass Beauty & Personal Care Products Industry Research

• Type

  • Color Cosmetics
  • Hair
  • Skin
  • Oral hygiene
  • Fragrances

• Sales Channel

  • Supermarkets or Hypermarkets
  • Specialist Retailers
  • Independent Retailers
  • e-Commerce