April 24, 2018
WELLESLEY, Mass., April 24, 2018–Rapid growth of disposable income, increasing foreign investments in developing markets, favourable taxation policies and a large middle-aged population seeking anti-aging products are all helping to drive growth of the global cosmetic and personal care stores market, according to a report by BCC Research.
The industry is expected to see a compound annual growth rate (CAGR) of 6.0% through 2022, when it is forecast to reach $100.7 billion, according to the report Cosmetics and Personal Care Stores Market: Global Markets to 2022.
Major players in the market include Walgreens Boots Alliance Inc., LVMH, CK Hutchison Holdings, Douglas Holding, Sally Beauty Holdings and Estee Lauder Companies Inc.
“The cosmetic and personal care stores market is one of the largest in the retail industry,” the report notes. “The demand and consumption of cosmetic and personal care products has increased globally recently due to increased awareness, shift in social and cultural norms, demographics and increased disposable income.”
Counterfeit Products, Trade Protectionism Threaten Market Growth
Though market growth is projected to be strong through 2022, several factors are conspiring to challenge the industry’s health. Chief among those is the presence of counterfeit products, which mimic little-known brands and are difficult to distinguish from genuine products. Further, a global increase in trade protectionism is resulting in the imposition of restrictions on free trade and a possible decrease in exports of up to 15% by 2022.
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Cosmetic and Personal Care Stores: Global Markets to 2022( HLC213A )
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