, /PRNewswire/ -- The global premium cosmetics market size is estimated to grow by .99 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 9.
75% during the forecast period. Increased demand for premium skincare products is driving market growth, with a trend towards multichannel marketing. However, lack of consumer reach and premium brand penetration in major parts of developing regions poses a challenge.
Key market players include Amway Corp., Avon Products, Beiersdorf AG, Chanel Ltd., Coty Inc.
, Groupe Clarins, Henkel AG and Co. KGaA, Honasa Consumer Pvt. Ltd.
, Johnson and Johnson Services Inc., Kao Corp., Laboratoires Expanscience, LOreal SA, LVMH Moet Hennessy Louis Vuitton SE, Natura and Co Holding SA, NUDE Beauty Brands, Revlon Inc.
, Shiseido Co. Ltd., The Estee Lauder Companies Inc.
, The Procter and Co., and Unilever PLC. Get a detailed analysis on regions, market segments, customer landscape, and companies- Premium cosmetics vendors significantly leverage social media to boost product awareness and engagement with consumers.
Platforms like Facebook, Twitter, Instagram, and YouTube are effective tools for promotion. Successful campaigns include Olay's Your Best Beautiful by Procter and , Nivea's and Win by Beiersdorf, Garnier's Rock Your Style by L'Oreal, and L'Oreal Paris' 4,100 Miles 5 Tasks. The internet and smartphone penetration, along with increased customer engagement practices, have driven sales volume and revenue growth.