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  • Published In : Jun 2024
  • Code : CMI1447
  • Pages :117
  • Formats :
      Excel and PDF
  • Industry : Consumer Goods

Regional Analysis

Premium Cosmetics Market Regional Insights

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North America has established itself as the dominant region in the global premium cosmetics market. The region is expected to account for 34.6% of the market share in 2024. The large population and high per capita spending on personal care and beauty products has made the U.S. the key market driving growth. Advanced lifestyles and rising prominence of beauty and skin care trends have propelled the interest of consumers towards premium and high-end cosmetics. Notable presence of leading brands, such as Estee Lauder, L'Oreal, MAC, and Clinique, has ensured the wide availability and choice for consumers across categories. The awareness around new launches and marketing spends by companies further adds to the demand.

Asia Pacific has emerged as the fastest growing regional market. Countries like China, South Korea, and Japan are displaying a strong appetite for premium beauty brands. The aggressive expansion of retail chains aided by convenient shopping experiences has boosted the accessibility across major cities. Rapid economic development along with rising affluence in the middle class has increased the discretionary spending capacity. The growing influence of western beauty standards and advent of social media is convincing more consumers to try new premium products. The region also acts as an important sourcing hub, with countries having strategic advantages for manufacturing and exports.

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