Rising disposable income coupled with willingness to spend on aesthetics and innovative cosmeceutical products are the vital drivers for personal care market. The improvised personal care range of products for females along with the grooming range for males is another growth propeller for this market. The complications associated with these products and the regulatory hurdles are the key restraint for this market.
Skin care segment is the fastest growing owing to introduction of novel products and rising demand for aesthetics worldwide. The personal care appliances segment is expected to be the fastest sub segment during the forecast period due to its high demand. Another major category is personal care products which include skin care, hair care, oral care, cosmetics and others. Skin care is the largest market in this segment due to the availability and demand of various treatment options. Globally, North America dominates this market due to the higher purchasing power and better availability of the latest technologies. Europe has the largest consumer base for this market due to the affluent population. Japan is expected to be the fastest growing market owing to its cultural belief and affinity towards natural living. The emerging economies of Asia-Pacific are expected to offer huge growth potential due to rapid urbanization and availability of different international brands.
The major players in this market are Procter & Gamble, Avon, L’Oréal Paris, Unilever Plc, Johnson & Johnson, Royal Philips Electronics NV, Panasonic Corporation, Colgate Palmolive Company, Amway, The Body Shop, Estee Lauder, Yves Rocher, Aveda Corporation, Arbonne International and Burt’s Bee.
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