The online beauty & personal care products market size is expected to grow from USD 19 Billion in 2020 to USD 65.5 bn and record a CAGR of 9% during 2020-2027. The Beauty & Personal Care market is thriving and one of the fastest growing consumer markets, driven in particular by the Cosmetics and Skin Care segments. The main reason for this strong growth is the generational shift with young consumers entering the market. At the same time, this change is reinforced by social media, internationality, and eCommerce, which have a lasting effect on buying behaviour when it comes to beauty products. Trends from all over the world are spreading and changing the daily beauty and care routine.
The volatility in the raw material prices and erratic supply of raw materials is expected to hinder the market growth. The cosmetic companies shifted their focus to the mass market, particularly in the fragrance category which is dominated by mass brands in this region. The online market has seen a significant growth in the sale channel as per Statista.
The market share of the non-store retailing channel is gradually increasing. This channel includes direct sale and sale over the internet. Companies relying on direct sale managed to create a powerful sales network in the fastest-growing market.
Report : Online Beauty and Personal Care Market - By Product Type (Skincare, Haircare, Oral Hygiene, Bath and Shower, Colour Cosmetics, Male Grooming Products, Fragrances & Deodorants, Sun Care Products, Baby and Childcare Products) and By Region (North America, Europe, Asia-Pacific, the Middle East & Africa and South America) - Industry Analysis, opportunity and Forecast 2020 To 2027