DUBLIN--(BUSINESS WIRE)--The "Global Cosmetics, Perfumes and Toiletries Market (2018-2023)" report has been added to ResearchAndMarkets.com's offering.
The value of the global cosmetics, perfumes and toiletries market is expected to reach a value of USD 342.96 Bn by 2023, expanding at a CAGR of 4.53% during 2018-2023.
One of the major reasons for the expansion of this market is the rise in the aging population due to the declining mortality rates in the global economy. It has led to a significant increase in the demand for anti-aging products to prevent wrinkles, dry skin, dark spots, and other age-related skin care issues. In a nutshell, the desire to maintain youthful appearances gives an impetus to the market.
The population of people above 60 is rising and is expected to reach 2.10 Bn by 2050. The life expectancy of women and men are expected to increase, leading to an increase in the demand for cosmetics and toiletry products.
There has been a considerable shift in preference from chemical cosmetics to natural products, thereby creating room for research and development in the cosmetics and toiletries market. Since the organic products ensure better health benefits, it justifies why their demand is on the rise. Moreover, the increase in the use of personal care products by men leads to more demand in this market.
The cosmetics, perfumes and toiletries market faces stiff competition when it comes to making a mark in the market. Therefore, consumers are spoilt by the countless choices available in the market due to the highly competitive nature of the market.
Also, there is a dearth of information about the key players in the market, resulting in consumers buying fake products from alternative mediums such as third party websites. This leads to a negative impression about the original products.
Companies Featured
- L'oreal
- Unilever N.V.
- Gillette
- The Procter & Gamble Company
- Beiersdorf
- Shiseido
- Avon Products Inc.
- Kao Corp
- Johnson & Johnson
- Kimberly & Clark Corporation
For more information about this report visit https://www.researchandmarkets.com/research/jk4c87/global_cosmetics?w=4
