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Premium Cosmetics Market Sales To Rise 7.6% by 2033

Beauty brands such as Makeup by Mario, Chantecaille and Augustinus Bader are ones to watch.

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.

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.

Makeup by Mario

A beauty company to watch in this space is Makeup by Mario, a color cosmetics brand founded by Mario Dedivanovic. The renowned makeup artist revealed that the company had raised $40 million in minority growth investment from Provenance and Silas Capital. The company had plans to use this new capital to amplify its reach and grow its direct-to-consumer business potential.

Augustinus Bader

In November 2022, Augustinus Bader, a company founded in 2017 providing luxury skincare products, announced that it had raised around $25 million in a strategic investment round led by General Atlantic and Impala. The investment was expected to be used to expand its business potential in the APAC region and bolster expansion in the United States as well.

Chantecaille

In January 2022, Beiersdorf, a leading manufacturer and retailer of personal care products, acquired Chantecaille, a premium cosmetics business founded in 1997. This acquisition strengthened Beiersdorf’s luxury skincare portfolio and enhanced its position in the global competitive landscape, found Fact.MR in its report.
 

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