LONDON--(BUSINESS WIRE)--The global online beauty and personal care (BPC) products market is expected to grow at a CAGR of more than 16% from 2018-2022, according to a new market research report by Technavio.
Global online beauty and personal care products market segmentation by product and geography
Technavio’s report on the global online beauty and personal care products market analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by product, including skincare products, hair care products, color cosmetics, fragrances, oral hygiene products, bath and shower products, male grooming products, deodorants, baby and child care products, sun care products, and depilatory products. As projected in 2017, around 25% of the market share originated from skincare products. Natural and organic skincare products are gaining popularity among skin and health-conscious customers across the globe.
Based on geography, the global online beauty and personal care products market has been segmented into APAC, EMEA, and the Americas. As of 2017, more than 37% of the market share came from APAC.
“In 2017, APAC led the global online BPC products market. Over the years, the increasing access to online shopping using the Internet and smart gadgets are substantial factors that have been contributing to the growth of the market. Heavy discounts, bundle pricing, and seasonal sales attract customers toward online shopping for BPC products on several e-retailing shopping portals,” says a senior analyst at Technavio for consumer services and personal care research.
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Global online beauty and personal care products market: competitive vendor landscape
The growing competition in the global BPC products market has a direct impact on the growth potential of the global online BPC products market. Therefore, vendors operating in the online BPC products market are concentrating on differentiating themselves from other competitors based on a wide variety of offerings, quality, price point, and attractive discount offers.
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Other topics covered in the report:
- Rise in the penetration of internet and smart gadgets
- Availability of bundled pricing and occasional and specialized discounts
- Hassle free and one-day or two-day delivery
- Expansion of distribution channels and adoption of omnichannel strategy
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