$190 Billion Toiletries Global Market to 2030 - Identify Growth Segments for Investment - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Toiletries Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with critical information they need to assess the global toiletries market as it emerges from the COVID-19 shut down.
The global toiletries market is expected to grow from $190.14 billion in 2020 to $218.8 billion in 2021 at a compound annual growth rate (CAGR) of 15.1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $286.86 billion in 2025 at a CAGR of 7%.
- Reckitt Benckiser Group
- Henkel AG & Co
- Beiersdorf AG
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The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider toiletries market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
- The toiletries market section of the report gives context. It compares the toiletries market with other segments of the chemicals market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, toiletries indicators comparison.
Asia Pacific was the largest region in the global toiletries market, accounting for 39% of the market in 2020. North America was the second largest region accounting for 26% of the global toiletries market. Africa was the smallest region in the global toiletries market.
Companies are focusing on manufacturing of toiletries based on natural and organic products due to increased awareness of consumers about the hazards due to the usage of synthetic materials. Toiletries are the products focused on consumer hygiene and beatification. Companies are producing products with high rate of transparency in ingredients, packaging and sustainability as the end users are opting healthy lifestyle. Natural and Organic Products are obtained from plant extracts, vegetable and essential oils with higher levels of vitamin C and essential minerals such as calcium, magnesium, iron and chromium and are eco-friendly. For instance, in 2018, L'Oreal Professionnel has launched "Botanea" a 100% Herbal based natural Hair Color in Western Europe.
Strict regulations by government agencies on the use of certain ingredients in manufacturing cosmetics is expected to act as a key restraint on the market. These ingredients are prohibited due to their toxicity and possible skin diseases due to their use. The EU Cosmetics Regulations lists substances that cannot be used and also those that can be used only in specified circumstances. Similarly, the US Food and Drug Administration (FDA) prohibit or restrict a list of ingredients in cosmetics. These prohibited substances include bithionol, chloroform, mercury compounds, methylene chloride, vinyl chloride and chlorofluorocarbon propellants.
The aging population is expected to be a growth driver for this market. Sales of products such as anti-aging creams and peels, wrinkle-reducing moisturizers, and other anti-aging topical treatments are expected to increase. Apart from this, older women usually have more disposable income than younger women. This will make it easier for them to spend more on cosmetics. According to the World Population Ageing 2019 report, there were 703 million people over the age of 65 in 2019 and this is expected to increase to 1.5 billion in 2050. This is expected to increase the demand for various cosmetic products, especially cosmetics with pharmaceutical capabilities, thus driving the toiletries market going forward.
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