Cosmetic and Personal Care Stores Market 2019 Global Analysis, Opportunities And Forecast To 2024 / 20+ Key Profiles Covered.
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Wiseguyreports.Com Adds "Cosmetic and Personal Care Stores Market to be Driven by Rising Health & Wellness Awareness among Men" To Its Research Database
Cosmetic and Personal Care Stores Industry
The global cosmetic and personal care stores market estimated to reach $100.7 billion by 2022, growing at a compound annual growth rate (CAGR) of 6.0% for the period of 2017-2022.
The global cosmetic and personal care stores market is expected to showcase positive growth over the forecast period. Companies are seen reportedly investing in varying designs and digital technologies to better the sales volume and in-store experience of the customers. Simultaneously, rising millennial population base, emerging market growth, rapid urbanization, aspirational lifestyles, and technological advancements are also driving the demand for these products across stores around the world.
The report published in WGR on the global cosmetic and personal care stores market revealed the growth of the market to be at a high pace. The valuation of the cosmetic and personal care stores market was further stated to surpass its previous valuation.
The global market is driven by the increasing health, wellness, and personal grooming awareness among the men's population base. Additionally, the rising aged population and increasing demand for anti-aging products to maintain a healthy and ageless skin is pushing the growth of the global market. The inception of technologies like Augmented Reality (AR), influx of organic and natural products, and increasing gender-specific cosmetic items are all anticipated to drive the market. However, the market potential can be challenged by the increasing popularity of ecommerce platforms, increasing trade protectionism, and counterfeit products.
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The global cosmetic and personal care stores market comprises a host of key players. This includes names like The Estee Lauder, Walgreens Boots Alliance, CK Hutchison Holdings, LVMH, and others. The players in the market are consistently making efforts to expand their reach and increase their store footprint across different geographies.
The global cosmetic and personal care stores market has been segmented in terms of type. On the basis of product type, the market is segmented into cosmetics stores, beauty stores, and perfume stores.
The global cosmetic and personal care stores market is geographically distributed across the following key regions: Latin America, Asia Pacific, North America, Europe, and the Middle East and Africa. The Asia Pacific regional market is highly lucrative and is expected to grow at a significant pace in the forthcoming years. The Asia Pacific market is duly supported by the presence of two booming nations, namely India and China, which comprises a massive population of youth and teenagers.
The regional markets in South America and Western Europe are also growing at an impressive pace. However, the Eastern Europe market is expected to be a key region in the global market of cosmetic and personal care stores over the forecast period. The market in North America is highly lucrative as well and the increasing inclination of consumers to look good and presentable is anticipated to boost the in-store product demand in this region. The growth of the North American market can be majorly attributed to the presence of the US, which is a leading nation when it comes to cosmetics and personal care items.
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|Date:||Nov 5, 2019|
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