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The luxury cosmetics market is expected to reach $58,763 million by 2030

The luxury cosmetics market is expected to reach $58,763 million by 2030

Market.biz’s report on the global luxury cosmetics market provides a brief overview of the industry’s future by 2030.

 

The Market.biz report provides a comprehensive and in-depth analysis of the luxury cosmetics market with figures from the year 2016 to the year 2020. Also included is a forecast analysis from 2021 to 2030.

 

In 2020, the market was valued at $45,105 million and the report forecasts market growth by 2030 of $58,763 million, an increase of nearly 30%. The compound annual growth rate (CAGR) is estimated at 3% per annum.

 

These figures cover the Asia-Pacific, Europe, North America, Middle East and Africa regions. They include luxury cosmetics players such as Nars, Lancôme, Dior beauté, Estée Lauder, Chanel and L’Oréal.

 

To take the example of L’Oréal, the group’s sales in the last six months were 23.19 billion euros, up 18% like-for-like. Over two years, growth was 14.9% on a comparable basis in the third quarter compared to 2019. Asia and North America remain buoyant markets with +22.6% and +23.1% respectively, and we can see that e-commerce has a bright future ahead of it with an increase of over 29%.

See Also

 

Read also > LUXURY COSMETICS: HOW WILL THE GLOBAL MARKET FOR BEAUTY AND PERSONAL CARE PRODUCTS EVOLVE BETWEEN 2020 AND 2025?

 

Featured photo : © Devon Abelman

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