The global Personal Care market size was valued at USD 555.70 billion in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 7.8% during the forecast period, reaching a value of USD 830.40 billion by 2030.
Personal Care market research report by Future Data Stats, offers a comprehensive view of the market's historical data from 2018 to 2021, capturing trends, growth patterns, and key drivers. It establishes 2022 as the base year, analyzing the market landscape, consumer behavior, competition, and regulations. Additionally, the report presents a well-researched forecast period from 2023 to 2030, leveraging data analysis techniques to project the market's growth trajectory, emerging opportunities, and anticipated challenges.
MARKET OVERVIEW:
Personal care refers to a broad category of products and practices that individuals employ to maintain their personal hygiene, appearance, and overall well-being. These encompass a wide range of daily routines and products designed to address an individual's grooming, cleanliness, and health needs. Personal care includes activities such as bathing, skincare, haircare, dental hygiene, and the use of cosmetics, all of which contribute to a person's self-care and presentation.
In addition to maintaining physical health and cleanliness, personal care extends to self-expression and emotional well-being. The personal care industry produces a vast array of products to meet these needs, offering consumers options for self-care, beauty enhancement, and wellness. It's a vital aspect of modern life, encompassing both essential hygiene practices and the expression of individual style and confidence.
MARKET DYNAMICS:
Among the significant drivers is the growing consumer awareness of personal health and well-being, which has led to an increased demand for personal care products and services. The desire to maintain a healthy lifestyle and appearance has propelled the market forward. Furthermore, technological advancements and innovations in the personal care industry have played a crucial role as they have led to the development of more effective and sustainable products. Consumers now have access to a wide range of options that cater to their unique preferences and needs, contributing to market growth.
One of the key restraints is the increasing concern over environmental sustainability. As consumers become more eco-conscious, they are seeking products with minimal environmental impact, leading to a shift in demand towards eco-friendly and natural personal care items. Additionally, stringent regulations surrounding product safety and testing present a challenge for market players.
Despite these challenges, there are abundant opportunities within the Personal Care market. The increasing focus on men's grooming products, the emergence of niche and specialized personal care brands, and the growing market penetration in developing regions present avenues for growth.
PERSONAL CARE MARKET SEGMENTAL ANALYSIS
BY PRODUCT TYPE:
Skincare products have emerged as a dominant force in the market, driven by consumers' growing focus on maintaining healthy and youthful skin. The dominant factor behind the rise of skincare is the increasing awareness of the importance of skin health and the demand for products that cater to various skin types and concerns. Innovations in ingredients, formulations, and product presentation have contributed to the expanding skincare segment.
Hair care products also play a significant role in the Personal Care market. The dominant factor here is the universal need for hair maintenance and the ongoing quest for hair health, volume, and style. From shampoos and conditioners to styling products and treatments, consumers consistently seek hair care solutions that cater to their specific needs, making this segment a cornerstone of the industry.
Oral care products are another vital category, driven by the emphasis on dental hygiene and overall health. The dominant factor here is the universal importance of maintaining healthy teeth and gums, promoting the use of toothpaste, mouthwash, dental floss, and other oral care items. The increasing awareness of the connection between oral health and general well-being has further boosted this segment.
Other personal care product categories, including makeup, fragrances, bath and shower products, deodorants and antiperspirants, men's grooming products, baby care products, sun care products, and various specialty items, each have their own unique dominant factors fueling their growth.
BY DISTRIBUTION CHANNEL:
Mass retail has long been a dominant force in the industry, primarily driven by convenience and accessibility. The dominant factor behind mass retail's prevalence is the ease with which consumers can find a wide array of personal care products in supermarkets and hypermarkets. These channels offer a one-stop-shop experience, allowing customers to conveniently browse and purchase personal care items alongside their regular groceries.
Drugstores also hold a significant position in the Personal Care market. The dominant factor driving their appeal is the trust and expertise associated with pharmacy settings. Consumers often turn to drugstores for essential personal care items, particularly when seeking specific health-related products, such as oral care or skincare. The knowledgeable staff and the ability to access professional advice contribute to the prominence of this distribution channel.
The rise of e-commerce has transformed the market dynamics, with online retailers becoming a dominant factor. The dominant factor behind the growth of online retailers is the convenience of shopping from home, the vast product selection, and the ability to compare prices and read reviews. The personal care market has seen a surge in online sales, reflecting changing consumer behaviors and preferences, making it a highly competitive and influential distribution channel.
REGIONAL ANALYSIS:
North America, a dominant player in the industry, exhibits robust growth, driven by the growing awareness of personal well-being and health. The dominant factor contributing to this growth is the higher disposable income in the region, allowing consumers to invest in a wide range of personal care products. Furthermore, a strong emphasis on innovation and sustainability within the personal care market has led to the development of advanced and eco-friendly product offerings.
In Europe, the Personal Care market continues to expand steadily, with a dominant factor being the strong tradition of personal grooming and beauty. European consumers prioritize high-quality products, contributing to the demand for premium personal care items. Additionally, the region has witnessed a surge in eco-conscious consumers, leading to an increased preference for sustainable and natural products.
The Asia Pacific region represents a rapidly growing market for personal care products, with a dominant factor being the increasing middle-class population and urbanization. Rising incomes, changing lifestyles, and the influence of social media have led to a surge in demand for personal care items. Latin America and the Middle East and Africa regions also present growth opportunities, with a dominant factor being the expanding market penetration and growing consumer awareness.
COVID-19 IMPACT:
A dominant factor in this impact was the heightened awareness of hygiene and health, which led to increased demand for personal care products such as hand sanitizers, antibacterial soaps, and skin-care items. As consumers focused more on their well-being, they sought products that offered protection and comfort, driving sales in these specific segments. However, the pandemic also posed challenges, especially for cosmetics and makeup products, as social distancing and mask-wearing became the norm, resulting in a decreased demand for makeup.
E-commerce saw a significant surge in the Personal Care market, with online retailers becoming a dominant factor in product distribution due to lockdowns and safety concerns, as consumers turned to online platforms to make their purchases. The pandemic accelerated the shift toward digital shopping, highlighting the importance of online presence and sales strategies for personal care brands.
INDUSTRY ANALYSIS:
Mergers & Acquisitions
- In July 2023, Unilever acquired Paula's Choice, a leading manufacturer of skincare products. This acquisition is expected to strengthen Unilever's position in the skincare market and accelerate its innovation in natural and organic skincare products.
- In August 2023, L'Oréal announced plans to acquire CeraVe, a popular skincare brand owned by Valeant Pharmaceuticals. This merger is expected to create one of the largest skincare companies in the world, with a strong portfolio of brands that appeal to a wide range of consumers.
Product New Launches
- In September 2023, Procter & Gamble launched its new skincare line, SK-II MEN. This new line of products is specifically designed for men's skin and includes a variety of products, such as a cleanser, moisturizer, and sunscreen.
- In October 2023, Estée Lauder launched its new makeup line, Fenty Beauty. This new line of products is created by Rihanna and offers a wide range of products in a variety of shades to suit all skin tones.
KEY MARKET PLAYERS:
- Procter & Gamble
- Johnson & Johnson
- Unilever
- L'Oréal
- Colgate-Palmolive
- Estée Lauder Companies
- Avon Products
- Coty
- Kimberly-Clark
- Revlon
- Shiseido
- Mary Kay
- Beiersdorf
- Amway
- Kao Corporation
- Henkel AG & Co.
- Natura &Co
- Oriflame Cosmetics
- Nu Skin Enterprises
- Coty Inc.
- Church & Dwight Co. Inc.
- Reckitt Benckiser
- Kimberly-Clark Corporation
- The Clorox Company
- Amorepacific Corporation
- others
Table of Contents
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Introduction
- Overview of the Personal Care Market
- Market Definition and Scope
- Market Segmentation
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Market Research Methodology
- Data Collection
- Data Analysis
- Market Size Estimation
- Market Forecasting
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Market Dynamics
- Drivers
- Restraints
- Opportunities
- Challenges
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Market Trends and Developments
- Emerging Consumer Preferences
- Technological Advancements
- Sustainable and Eco-friendly Products
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Competitive Landscape
- Key Players in the Personal Care Market
- Market Share Analysis
- Company Profiles
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Market Segmentation
- By Product Type
- By Distribution Channel
- By Region
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Product Analysis
- Skin Care Products
- Hair Care Products
- Bath and Shower Products
- Cosmetics and Makeup
- Fragrances and Perfumes
- Others
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Distribution Channel Analysis
- Retail Stores
- E-commerce
- Specialty Stores
- Supermarkets/Hypermarkets
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Regional Analysis
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Market Opportunities and Future Outlook
- Growth Prospects
- Emerging Markets
- Market Expansion Strategies
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Conclusion
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Appendices
- Glossary of Terms
- List of Abbreviations
Personal Care Market Segmentation
By Product Type
- Skincare
- Hair care
- Oral care
- Makeup
- Fragrances
- Bath and shower products
- Deodorants and antiperspirants
- Men's grooming products
- Baby care products
- Sun care products
- Other personal care products
By Distribution Channel
- Mass retail
- Drugstores
- Specialty stores
- Online retailers
- Direct sales
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RESEARCH METHODOLOGY
With a collective industry experience of about 70 years of analysts and experts, Future Data Stats encompasses the most infallible research methodology for its market intelligence and industry analysis. Not only does the company dig deep into the innermost levels of the market, but also examines the minutest details for its market estimates and forecasts.
This approach helps build a greater market-specific view of size, shape, and industry trends within each industry segment. Various industry trends and real-time developments are factored into identifying key growth factors and the future course of the market. The research proceeds are the results of high-quality data, expert views & analysis, and valuable independent opinions. The research process is designed to deliver a balanced view of the global markets and allows stakeholders to make informed decisions, to attain their highest growth objectives.
Future Data Stats offers its clients exhaustive research and analysis, based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models distill the data & statistics and enhance the accuracy of our recommendations and advice.
With Future Data Stats calibrated research process and 360° data-evaluation methodology, the clients receive:
- Consistent, valuable, robust, and actionable data & analysis that can easily be referenced for strategic business planning
- Technologically sophisticated and reliable insights through a well-audited and veracious research methodology
- Sovereign research proceeds that present a tangible depiction of the marketplace
With this strong methodology, Future Data Stats ensures that its research and analysis is most reliable and guarantees sound business planning.
The research methodology of the global market involves extensive primary and secondary research. Primary research includes about 24 hours of interviews and discussions with a wide range of stakeholders that include upstream and downstream participants. Primary research typically is a bulk of our research efforts, coherently supported by extensive secondary research. Over 3000 product literature, industry releases, annual reports, and other such documents of key industry participants have been reviewed to obtain a better market understanding and gain enhanced competitive intelligence. In addition, authentic industry journals, trade associations’ releases, and government websites have also been reviewed to generate high-value industry insights.
Primary Research:
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Primary Research
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Desk Research
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Company Analysis
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• Identify key opinion leaders • Questionnaire design • In-depth Interviews • Coverage across the value chain
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• Company Website • Company Annual Reports • Paid Databases • Financial Reports
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• Market Participants • Key Strengths • Product Portfolio • Mapping as per Value Chain • Key focus segment
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Primary research efforts include reaching out to participants through emails, telephonic conversations, referrals, and professional corporate relations with various companies that make way for greater flexibility in reaching out to industry participants and commentators for interviews and discussions.
The aforementioned helps to:
- Validate and improve data quality and strengthen the research proceeds
- Develop a market understanding and expertise
- Supply authentic information about the market size, share, growth, and forecasts
The primary research interview and discussion panels comprise experienced industry personnel.
These participants include, but are not limited to:
- Chief executives and VPs of leading corporations specific to an industry
- Product and sales managers or country heads; channel partners & top-level distributors; banking, investments, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research:
A broad array of industry sources for the secondary research typically includes, but is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for a competitive scenario and shape of the industry
- Patent and regulatory databases to understand technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles, web-casts, and other related releases to evaluate the market
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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PRIMARY SOURCES |
DATA SOURCES |
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• Top executives of end-use industries • C-level executives of the leading Parenteral Nutrition companies • Sales manager and regional sales manager of the Parenteral Nutrition companies • Industry Consultants • Distributors/Suppliers
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• Annual Reports • Presentations • Company Websites • Press Releases • News Articles • Government Agencies’ Publications • Industry Publications • Paid Databases
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Analyst Tools and Models:
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BOTTOM-UP APPROACH |
TOP-DOWN APPROACH |
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· Arriving at · Arriving at · Market Share · Key Market Players |
· Key Market Players · Market Share · Arriving at · Arriving at |
Personal Care Market Dynamic Factors
Drivers:
- Growing consumer awareness of personal health and well-being.
- Rising disposable income, enabling investment in personal care products.
- Technological advancements and product innovations.
- Increasing emphasis on sustainability and eco-friendly products.
- Expanding middle-class population and urbanization in emerging markets.
Restraints:
- Consumer concerns about environmental impact and demand for eco-friendly products.
- Stringent regulations regarding product safety and testing.
- Market competition and pricing pressures.
- Shifting consumer preferences and trends.
- Challenges in adapting to diverse cultural and regional demands.
Opportunities:
- Rising demand for premium and specialized personal care products.
- Surge in online retail, e-commerce, and direct-to-consumer sales.
- Increased consumer preference for sustainable and natural products.
- Expansion in untapped markets, especially in Latin America and Africa.
- Growing awareness of hygiene and health, post-COVID-19.
Challenges:
- Product formulation and compliance with changing regulations.
- Evolving consumer expectations and demands.
- Competitive landscape with established and emerging brands.
- Supply chain disruptions and logistics complexities.
- Navigating the impact of the COVID-19 pandemic on consumer behavior and distribution channels.
Frequently Asked Questions
