August 14, 2019 by Amanpreet
The report on the “Premium Beauty & Personal Care Products Market Forecast, Trend Analysis & Competition Tracking: Global Market insights 2017 to 2022” takes a closer look at various dynamics and trends shaping the present contours of the market and expected to define the future growth trajectories of the premium beauty and personal care products market. An elaborate assessment of these trends and developments in the premium beauty and personal care products market help in identifying the prevailing opportunities and lucrative avenues for market participants. The report findings also help in identifying imminent investment pockets in the premium beauty and personal care products market. The report offers granular assessment of the various product types such as premium skin care, premium fragrances, premium color cosmetics, and premium hair care in the premium beauty and personal care products market. The study analyzes the prospects of various sales channels such as hypermarkets/supermarkets, retail chains, and e-commerce.
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Premium beauty and personal care products brands usually cater to affluent target consumers, especially millennials. These consumers are willing to pay higher prices for the better safety and efficacy that premium beauty and personal care products claim. In recent years, this category of premium beauty and personal care products has also piqued the curiosity of not-so-affluent class of consumers in various parts of the world. A key force underpinning their affinity toward premium beauty and personal care products is the growing desire for products with natural or organic ingredients and products that can have specific benefits.
Prominent manufacturers, world over, in the premium beauty and personal care products market are adopting strategies to capitalize on the trend of premiumization. The efforts in the premium beauty and personal care products market are evident in their focus on innovating the products in several ways. Premium beauty and personal care products brands are adding botanically-derived ingredients, adopting green production methods, and going for more engaging packaging for consumers to tap emerging avenues. Spiraling awareness about advanced skin care is creating new possibilities in premium beauty and personal care products market.
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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.
E-commerce has emerged as markedly attractive channel for exploring new demographics for players in the premium beauty and personal care products market. Companies are leveraging online sales outlet for making robust positioning of their premium beauty and personal care products. E-commerce channels have helped them expand the product reach to new consumers in the premium beauty and personal care products market who are enamored by premiumization. The rapid penetration of e-commerce in developing and developed economies is reinforcing their efforts in the premium beauty and personal care products market.
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