Rising Proclivity of Consumers for Higher-priced Products characterizing better

Posted by Arslan on March 1st, 2019

The personal care industry is witnessing the recent waves of premiumization characterized by the rising affinity toward beauty and personal care products that are at higher side of the price spectrum. The allure of an assortment of personalized products to be used for extensive beauty care regimes across a vast spectrum of consumers has opened up altogether new avenue in the premium beauty and personal care products market. The growing worldwide demand for advanced products for a comprehensive skin care and hygiene is accentuating the global premium beauty and personal care products market.

According to Fact.MR, premium beauty and personal care products will spawn into a multi-million dollar market and is anticipated to rise at a CAGR during the forecast period from 2017 to 2022. The global premium beauty and personal care products market is projected to reach a worth of US1 Bn in revenue.

The premium beauty and personal care products market is expected to witness more attractive evolution trajectories as more number of these products are mainstreamed toward common consumers.  Manufacturers of mass-category products in various parts of the world seem to jump on the bandwagon of the rising affinity toward beauty and personal care products. This has imparted a considerable momentum to the expansion of the premium beauty and personal care products market. Various beauty and personal care products brands are leveraging their technical competencies to develop specialized personal care products, notably for skin care. Numerous skin care brands are tapping into several emerging markets with premium beauty and personal care products to meet the emerging product choices, especially of young adults in generation Y. The adoption of eco-friendly labels in premium beauty and personal care products is also providing a robust thrust in this direction.

Browse Full report with TOC:

https://www.factmr.com/report/84/premium-beauty-personal-care-products-market

The rising per capita expenditure on personal care products in developing countries over the past years has also supported the rapid uptake of premium beauty and personal care products. Furthermore, the demand for more efficacious formulations for treating complicated skin conditions is fueling the demand for premium beauty and personal care products.

The report offers a critical look at the profile of various market players and the offerings of key ones in the premium beauty and personal care products market. It also evaluates how the changes in strategic landscape going to influence the degree of competition in the premium beauty and personal care products market. Some of the top players operating in the premium beauty and personal care products market are Revlon, Inc., Mary Kay, Shiseido Company, Limited, Procter and Gamble Co., Avon Products, Beiersdorf AG, Kao Corporation, the Estée Lauder Companies Inc., Loreal Group, and Unilever.

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Arslan
Joined: December 18th, 2017
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