Global Prestige Beauty Market Report 2023-2028: Millennial and Gen Z Generations Key to Growth

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May 04, 2023, 19:15 ET

DUBLIN, May 4, 2023 /PRNewswire/ -- The "Global Prestige Beauty Market (2023 Edition) - Analysis, By Product Type (Skincare, Cosmetics, Haircare, Fragrances), Age Group, Sales Channel, By Region, By Country: Market Size, Insights, Competition, Covid-19 Impact and Forecast (2023-2028)" report has been added to ResearchAndMarkets.com's offering.

The global prestige beauty market was worth USD 87.89 billion in 2021 and is anticipated to expand at a CAGR of 5.56% between 2023 and 2028.

The rising spending power of the Middle and Upper Middle-income classes influences the demand for Prestige Beauty. Prestige Beauty sales have been driven by the Millennial and Gen Z generations. Furthermore, the desire for owning authentic and prestige products is driving market expansion.

The skincare segment acquired the largest share in 2021 and is anticipated to lead the market segment throughout the forecast period at a CAGR of 6.2%.

A rise in the disposable income of the female working class, as well as increased spending on non-essential items, has also aided market expansion. Furthermore, an increase in disposable income of middle-class population is driving the demand for Prestige Beauty.

In terms of market value, Asia Pacific dominated the geographic regions in 2021 and the region is expected to continue holding the largest share in the total sales of Prestige Beauty in the forecast period.

Prestige cosmetics are noted for their unique formulae, professional results, large colour pallet, and skin and environmental friendliness. Prestige make-up kits or items are also accessible on online platforms such as Amazon Inc, corporate websites, and the usage of social media platforms, which is supporting market expansion.

The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies profiled in the report include, LVMH Moet Hennessy-Louis Vuitton SE, PVH Corp., The Estee Lauder Companies Inc., L'Oreal SA, Shiseido Company, Limited, Coty Inc., Puig, Unilever plc., Olaplex Holdings Inc, Anastasia Beverly Hills

Scope of the Report

The report analyses the Prestige Beauty Market by Value (USD Billion).
The report presents the analysis of Prestige Beauty market for the historical period of 2018-2021, the base year 2022 and the forecast period of 2023-2028.
The report analyses the Prestige Beauty Market by Product Type (Skincare, Cosmetics, Haircare, Fragrances)
The report analyses the Prestige Beauty Market By Age Group (Less than 18,18-30, 30-45, More than 45).
The report analyses the Prestige Beauty Market By Sales Channel (Branded Stores, Specialty Stores, Online Channels, Other Channels)
The Global Prestige Beauty Market has been analysed by countries (United States, Canada, Brazil, Germany, UK, France, Italy, Spain, China, Japan, India)..
The key insights of the report have been presented through the frameworks of SWOT and Porter's Five Forces Analysis. Also, the attractiveness of the market has been presented by region, By Product type and Sales channel.
Also, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report.

Competitive Positioning

Company Profiles
LVMH
The Estee Lauder Companies Inc.
L'Oreal
PVH Corp.
Shiseido Company, Limited
Coty Inc.
Unilever plc.
Puig
OLAPLEX Holdings, Inc.
Anastasia Beverly Hills

For more information about this report visit https://www.researchandmarkets.com/r/3jnswd

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