Personal Care & Cosmetics Industry Personal Care Products Market Trends and Growth

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Personal Care Products Market Size, Analysis, Growth, Trends,
Industry Overview and Forecasts to 2024 | Hexa Research
“The global personal care products market size was
USD 381.57 billion in 2016 and is anticipated to
grow on account of increasing awareness regarding
individual health and strong campaigning &
advertising strategies implemented by established
players”
The global Personal Care Product Market is expected to reach USD 650.10 billion by 2024 and is growing on
account of rising awareness regarding personal health and hygiene. Increasing sales of these products
through e-commerce channels is anticipated to foster the growth of the market. Additionally, innovative
packaging designs of this products are expected to boost the market.
In 2016, Asia Pacific held the largest market share and expected to maintain its dominance over the forecast
period. North America personal care products market is anticipated to show steady growth rate on account
of increasing demand for luxury personal care products. The increase in consumer spending power and
massive advertising & promotional activities is expected to drive the growth of the market.
Market players are focusing on mergers & acquisition strategies to expand their presence in global market.
For instance, in 2015, Unilever acquired REN, Kate Somerville, Dermalogica, and Murad to enter in global
skincare market. In addition to this, German manufacturer Henkel acquired Blendax, Pert, and Shamtu
haircare portfolios from Procter & Gamble to expand in eastern Europe and Middle East & Africa.
Furthermore, companies are extensively investing in R&D for product innovation and new product
development. For instance, according to Cosmetics Europe, a personal care association, annually large
enterprises invest approximately 1.5% to 4.5% of their turnover on R&D activities.
Personal care products are bifurcated into skincare, haircare, oral care, fragrance and others. Skin and
haircare product segment accounted for nearly 50% market share. Products such as creams, lotions, powders,
and moisturizers are included within skincare. Haircare products are used for maintaining hair health as well
as used for enhancing the attractiveness of hairs.
Browse Details of Report @ https://www.hexaresearch.com/research-report/personal-care-products-
market
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