Baskadia

The study undertaken by Astute Analytica predicts that the global personal care products market is expected to grow at a CAGR of 8.1 % over the forecast period and will reach US$ 489.0 billion by 2031.

Personal Care products include Shampoo, Hair Care Products, Hair Gel, Conditioner, Hair Oil, Skin Care Products, Hair Colour, Anti-Aging Cream, Face Cream, Body Lotions, Sun Protection Cream, Oral Toothpaste, etc.

The increasing need for personalized grooming items is the latest trend noticed by the global personal care product market. With a comprehensive scope of hygienic and beauty demands of consumers, firms are anticipated to innovate with unique offerings to support the market contest. Therefore, the involvement of clients in manufacturing and preparing beauty care products aids to drive the market more efficiently. The increasing customer awareness regarding the adoption of cosmetics that are organic, vegan, natural, and eco-friendly has inspired manufacturers to declare new products and grow their impression. For example, in June 2021, SO'BiO étic, a socially accountable French beauty firm, declared its natural beauty line in the U.S., to provide healthy and eco-friendly beauty products.

The effortless availability of these cosmetic materials through different sales tracks like pharmacies, specialty stores, and beauty salons has propelled the overall market growth. Moreover, the rising stress of male customers on grooming and skincare to improve their physical impression and take adequate care of their skin is expected to boost the growth of the overall market. Growing acquisitions in the R&D of the latest and effective offerings also indicate growth in the overall market. The positive results of personal and beauty care on self-esteem, the growing significance of social appearance, and a slow customer shift toward luxury and premium cosmetic labels associated with enhancing the quality of life drive the global market growth.

Segmentation Overview of the Global Personal Care Products Market

Geographically, the overall market has been segmented into North America, Asia Pacific, Europe, the Middle East and Africa, and South America. According to the studies, Europe dominated the market share due to the high spending capacity of customers in the region and the rising need for natural cosmetics. Asia-Pacific was the leading shareholder in the overall marketplace owing to the increasing population associated with the transforming lifestyle of customers.

Key Players Insights

Companies are using different competitive plans to withhold the prevalence of the market share. As per the analyses, the global market is highly overpowered by various fundamental players, although recent market entrants are grasping an adequate quantity of shareholding with their creative ideas and concentrated sustainability. For example, in November 2019, Kao Corporation declared the expansion of a diffuser that incorporates Fine fiber technology to form a layered, ultra-thin skincare item. It introduced this technology with the help of the Kanebo brand SENSAI and Kao brand est. Ikkai was introduced in India in October 2018. It is a premium organic skincare label and delivers a range of skincare materials that are formed of inherently sourced ingredients and enzymes. In 2019, Kylie Jenner and Coty declared a long-term partnership to expand Kylie’s existing beauty industry on an international scale.