Global Online Beauty and Personal Care Market 2016-2020
About Global Beauty and Personal Care Market
The global beauty and personal care market will grow at a CAGR of approximately 5% during the forecast period. Germany and France dominated Europe's beauty and personal care market with a combined share of nearly 30%. In APAC, most of the demand came from China and Japan.
Technavio’s analysts forecast the global online beauty and personal care market to grow at a CAGR of 16.70% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global online beauty and personal care market for 2016-2020. To calculate the market size, the report considers the revenue generated from the online sales of beauty and personal care products to individual customers in the global market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Online Beauty and Personal Care Market 2016-2020
Technavio recognizes the following companies as the key players in the global online beauty and personal care market: Amazon, Estée Lauder, L’Oréal, Procter & Gamble, and Sephora.
Other Prominent Vendors in the market are: Drugstore, eBay, Groupon, JCPenney, Kroger, Macy’s, StrawberryNET, Target, ULTA Beauty, and Walmart.
Commenting on the report, an analyst from Technavio’s team said: “Rise in demand for dermocosmetic products will be a key trend for market growth. Dermocosmetics are products that combine cosmetic action with dermatological functions. It is a branch of dermatology concerned with the aesthetic appearance of the skin. The segment has doubled in the last 15 years, from 2.2% to 4.4% of the global beauty market. Western Europe represents almost 60% of the dermocosmetics market. Currently, France is the market leader in terms of revenue, followed by Italy, Germany, and Spain. Worldwide demand for dermocosmetic products has grown in the last five years.”
According to the report, one of the key drivers for market growth will be high rate of internet and smartphone penetration and increase in online spending. As of 2014, the internet penetration rate (percentage-to-population) in the US was 87.4%. Approximately 279 million people in the US were internet users; this number is the third-largest globally, after China and India. Users in the US spend more time online per capita than other users globally. An average US internet user spends more than 90 hours online per week, which is almost five times the global average. Also, broadband penetration in the country has increased recently with the growth of both fixed and wireless broadband connections. This high amount of time spent by US consumers online is encouraging beauty and personal care marketers to expand their product offerings through digital platforms.
Further, the report states that increasing webrooming will be a challenge for the market. Webrooming is when consumers prefer checking the products online before buying from the store. It has become a direct threat to e-commerce vendors. People now prefer to shop in physical stores, only after previously checking the products they are interested in on the internet. When it comes to buying electronics, globally, almost 50% of consumers (aged 18-35 years old) prefer to check the products online and seek information, and then finally go to the store and purchase the product. Both men and women are committed to webrooming. Almost 73% of men and 61% of women worldwide prefer to check the products online, and then purchase them offline. Nearly 47% of consumers preferred buying from physical stores to save on the shipping costs, and 23% preferred to get the product at the same time rather than having to wait for the product.
Amazon, Estée Lauder, L’Oréal, Procter & Gamble, Sephora, Drugstore, eBay, Groupon, JCPenney, Kroger, Macy’s, StrawberryNET, Target, ULTA Beauty, Walmart.