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Global Women Cosmetics Market: A New Dawn for the Cosmetic Brands

Global Women Cosmetics Market

Consumer Goods and Retail | Jun, 2021

Evolving consumer lifestyle is the key drivers behind the vigorous cosmetics market. Purchasing decisions are increasingly motivated by the quest for healthy living and usage of premium products with clean labels. In turn, this is driving personalized beauty and customization, reinforced by smart technology that is catapulting forward the desired lifestyles.

Product Overview:

Cosmetics are the product or substances used to alter or enhance the appearance or fragrance of the body. Many cosmetic products are designed for applying to the hair and face. The cosmetic products are generally mixtures of chemical compounds as some being synthetics and some being derived from natural sources (like coconut oil). Most common cosmetic includes mascara, lipstick, eye shadow, foundation, rouge, skin lotions, skin cleansers, shampoo, perfume, cologne and hairstyling products (gel, hair spray, etc.). Cosmetics which are applied to the face to enhance its appearance are called as make-up or makeup.

The Growing Global Women Cosmetics Market:

Global Women Cosmetics Market witnessed a moderate growth as United States, Japan and the United Kingdom leads the women cosmetics market on account of factors like increasing spending power of women, rising GDP per capita, availability of better and new products, rising awareness of the women to adopt different products, aggressive promotional activities etc. However, the market has been spurred by the rising adoption of the cosmetics products as a daily regimen by the women of the developing countries like India, China, etc. and thereby, adding up to the revenue of Global Women Cosmetics Market. 

Moreover, global women cosmetics market is also flourishing on the account of rising influx of fragrances, that not only provides a soothing fragrance but also various other benefits such as underarm whitening, which is inducing women across the globe to buy these fragrances. Women’s increasing interest in looking young is fueling the demand for skincare products that fight signs of fatigue, stress and ageing. Moreover, rise in the awareness about the women cosmetics products, along with the involvement of the celebrities to endorse brands is benefiting the women’s cosmetics market.

What’s So Hot in the Global Women Cosmetics Market?

·        Product Innovations

Companies are focusing on bringing in products specific as per consumer requirement.

·        Organic products

Growing concerns for the long-term effects due to usage of cosmetics is forcing the manufacturers to bring in the organic cosmetic products as well. Rising trend of the use of natural and organic ingredients in cosmetic products is observed among various cosmetic manufacturing companies. This trend caters to the ever-increasing demand for organic and natural cosmetic products among consumers. Use of organic cosmetic products minimizes the chances of any possible side effects of the product. This ultimately increases and contributed to the usage of cosmetics among individuals and aiding to the growth of Global Women Cosmetics Market. 

·        Focus on Packaging 

Packaging plays a major role in the implementation of any marketing strategy. An attractive package is vital for the success of a brand and has a potential to back the company’s profits. As a result, companies these days package their products strategically to lure customers. Predominantly, in context to marketing, usage of the plastics made out of renewable raw materials, and biologically degradable materials have the ability to attract consumers. Alongside, being practical and comfortable, dispensers are also hygienic and environmentally friendly, and are increasingly being used in lotions, face wash, shampoos, etc. Moreover, companies are value packs for all its products.

Women Cosmetics Market in India

In a report by TechSci Research, “India Cosmetics Market By Category (Body Care, Hair Care, Color Cosmetics, Men's Grooming, Fragrances, Others), By Distribution Channel (General Stores, Supermarket/Hyper Market, Specialty Stores, Online Sales Channel, Others), By Region, Competition, Forecast & Opportunities, FY2026”, the India cosmetics market is booming not only due to rising number of the female consumer, but the male consumers that have recently been introduced to the trend of following latest beauty standards. In India, cosmetic industry growing at the significant rate due to the increasing penetration in both rural & urban areas, however products need may vary. Additionally, factors such as economic growth, increasing product availability, increasing disposable income, growing consumer expenditure on beauty and grooming, among others are further expected to propel the market during the next five years.

The recent trend of following social media influencers and their honest opinions is shaping the business structure of cosmetics in India. Consumers are highly influenced by the social media and word of mouth publicity as this has been mostly given by the people who have already used the product and provide honest opinion. While buying cosmetics consumers are paying attention to their skin type before buying the product as, the usage of wrong products may cause side effects. Which could further lead other skin problem or medical consultation.  Female consumers are significantly opting for the organic, natural & herbal cosmetics products, as they are now more concern about the long-term impact of chemicals on their skin and body. In addition, few companies like providing most of products for such consumers.

Impact of COVID-19 on India Cosmetic Market

The onset of COVID-19 created a huge setback on the country’s economy. The pandemic created manpower shortage in the country’s cosmetic industry. As most of the workers left for their homes in absence of work, were also closed due to the government restrictions for some time, which negatively impacted the cometic industry. Due to the lockdown restrictions, interstate travel and logistics have been impacted which is needed in order to maintain an efficient supply chain in the cosmetic industry. Cosmetic industry is highly depended on the logistics and transportation for the supply of cosmetic products to the retail stores in the various parts of the country, which got affected due to the lockdown. With governmental standards, beauty products were not included in the essential products. People were forced to stay at home, due to which they were using less cometic products such as color cosmetics, body and skin care products. However, body care segments witnessed recovery in loses in some time, but people are still not using cosmetics, especially color cosmetic and beauty products like the way they used to do before lockdown.

In another global research report by TechSci Research, “Global Organic Cosmetics Market By Product Type (Skin Care, Hair Care, Oral Care, Fragrances, Make up, Others), By Gender (Male v/s Female), By Distribution Channel (Beauty Parlors/ Salons, Retail Stores (Multi Branded Retail Stores, Supermarkets/Hypermarkets, Exclusive Retail Stores), Online), By Company, By Region, Forecast & Opportunities, 2025”, the global organic cosmetics market is projected to show a robust growth in the forecast years, 2021-2025 on the account of increasing number of health scares due to chemicals in cosmetics, along with rising levels of pollution in major cities such as Delhi, Isparta, Ürümqi, Xining and Beijing are driving people to switch to organic cosmetics instead of standard chemicals. Moreover, governmental policies and regulations for the concerned chemicals being added in the cosmetics products is anticipated to propel the market growth in the future five years. Furthermore, factors such as increasing spending on health & hygiene products, growing working women population, among others are expected to spur the market growth. The sudden outbreak and spread of pandemic COVID-19 have significantly hit the organic cosmetics market. The consumer spending on organic cosmetics has gone down and a shift in consumer behavior is observed towards the products having low risks of contamination and having longer shelf life. While, the brands are trying to improve their supply chain and are strengthening their e-commerce channels, but lockdown has drastically increased the demand-supply gap.