04.25.23
The global demand for premium cosmetics has reached a market value of $125.1 billion in 2023 and is predicted to increase rapidly at 7.6% over the next ten years, according to a new report from Fact.MR.
By 2033-end, the global premium cosmetics market is forecasted to increase to a size of $261 billion.
Demand for premium cosmetics has been increasing at a notable pace in recent years and many new companies have entered the industry to satisfy this demand. There are some established companies in the marketplace but there is still plenty of room for aspiring premium cosmetics manufacturers to test their growth potential and acquire a substantial share of the global landscape.
By 2033-end, the global premium cosmetics market is forecasted to increase to a size of $261 billion.
Rising Awareness of Luxury Brands
Increasing "aesthetic awareness" among the general population has to led a substantial rise in demand for cosmetic and personal care products around the world, which is a primary factor for surging premium cosmetics demand. Growing awareness regarding the benefits associated with premium ingredients and the rising disposable income of people are also expected to boost sales of premium cosmetics in the future.Demand for premium cosmetics has been increasing at a notable pace in recent years and many new companies have entered the industry to satisfy this demand. There are some established companies in the marketplace but there is still plenty of room for aspiring premium cosmetics manufacturers to test their growth potential and acquire a substantial share of the global landscape.