Global Luxury Cosmetics Market (2019-2025)

. Luxury cosmetics mainly cover skincare, makeup products, hair care, and fragrances.
By: Bharat Book Bureau
NAVI MUMBAI, India - Dec. 9, 2019 - PRLog -- The Global Luxury Cosmetics Market ( size is expected to reach $75.5 billion by 2025, rising at a market growth of 5.6% CAGR during the forecast period (2019-2025). Cosmetics products have become a routine part of humans to cleanse and enhance the physical features of their skin. Within the growing market of cosmetics, luxury products or luxury cosmetics have conquered the market with a wide range of products that are manufactured by using organic and premium quality ingredients. These products are sold at high prices as compared to their counterpart drugstore products. Luxury cosmetics mainly cover skincare, makeup products, hair care, and fragrances.

Luxury products have risen up to be a lucrative industry specifically in the North America and Europe region, due to the high consumer purchasing power in the countries of these regions. However, the popularity of luxury cosmetics has extended across the Asian countries as well owing to the increasing disposable income and the prevalent skin and hair care trends in the region.

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The urbanization is broadening rapidly, and so is the disposable income in growing economies. In par with this trend, the demand for natural & organic cosmetics is rising remarkably with a surge in online retail. These are significant factors that have boosted the growth of the luxury cosmetics market across the globe.

The industry players emphasize on the prevalent factors that have constantly contributed towards an increase in the adoption of luxury cosmetics. These include growth in upper-middle-class population, increased consumer interest in distinct and premium products, rising online beauty expenditure, and spreading out of the social network.

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