Global Personal Care Industry Trends
The global personal care products industry,part of theconsumer goods sector,is concentrated in nature,with the top 50 companies holding a combined market share of around 85%,reports Hoovers.In the US alone,there are as many as 800 firms operating on the market.
The US,EU,UK,Brazil and Russia dominate the global personal care products industry.
The personal care industry encompasses a variety of products,including fragrances,makeup,hair care and coloring products,sunscreen,toothpaste,and products for bathing,nail care,and shaving.The industry overlaps with other markets like chemical,health care,and petroleum.The latter is important as personal care product raw materials,such as propylene glycol,come from petroleum products.
Given the risks associated with toxic materials in personal care products,companies have to invest in research and development to render products safe or to explore alternative raw materials like natural and herbal products.
Demand for women's beauty products grows at about 7 times the rate of theglobal cosmetics market,according to industry data.Factors fuelling the personal care products market include higher consumer spending power,new products,better consumer awareness,advertising and lifestyle changes.
Personal Care Key Market Products
Factors driving the global deodorant market expansion include new product formats,gender-specific products,and technological developments.Companies are focusing on new products and extending established product lines,with innovative offerings for product applications and formulations.The US and the EU are both mature markets,with the EU accounting for the largest share of the global deodorant market.
Fragrances for women represent almost 64% of the market,and the EU has more than a 45% market share.Coty Inc is the top company operating in the global market,with over 10% of overall market value.
Sun protection represents the largest suncare market segment,with 66% of the overall market.The EU has a near 42% share of the global market.L'Oreal S.A.is the top company operating in the global market,with almost 15% of the market's overall value.The market is moderately fragmented,with the three leading companies holding a combined share of 73%.
In the global bath and shower product market (segment of the beauty and wellness industry),shower products represent over 70% of the market.The EU holds a 54% share in the global market,and Unilever is the leading company with more than 17% of overall market value.
Shampoo represents the leading product on the global haircare market,registering yearly sales of $19 billion.
Shaving blades and razors account for almost 77% of the world male toiletries market.The EU holds a 45% share in the global market.Procter & Gamble is the market's number-one company,generating almost 46% of overall market value.