Global Cosmetic Market Enters New Geographic Locations
28 May 2015
Karina Huber of CCTV made it public that the beauty market is sizeable in United States with a growing demand for high –end skin-care, deodorants and makeup cosmetics among various other widely used cosmetics that has risen by nearly 2% in 2014 and has generated 11 billion dollars. Further, business investors when applauding Israel’s military technology, medicine sector, biotech industry and tech apps favour the cosmetics segment that also falls under the investment radar in the country now.
In addition, the skincare and color cosmetics range market in Israel alone, considering the exports is valued at nearly $ 250 million and is expanding at a tremendous pace with new entrants invading the space. Furthermore, the rise in the social media platform such as Facebook, Twitter and Pinterest as a cost –effective advertising and marketing channel has aided small brands to grow at a tremendous pace while preserving integrity in consumer delight, product as well as manufacturing time reliability.
With cosmetic chains such as ULTA Beauty, Orogold Cosmetics and Inglot’s decision to enter new geographic location, in the state of the art shopping centres too have taken the beauty market to new heights. Recently Allied Market Research published a report titled “Global Cosmetics Market (Category, Mode of Sale, Gender and Geography) - Size, Share, Trends, Company Profiles, Demand, Analysis, Growth, Opportunities, and Forecast, 2014 – 2020.” The report reveals that the cosmetics sector across the globe would witness a CAGR of up to 4.9 percent through 2015 to 2020.
Out ruling all fears pertaining to colored make up in Brazil the first colored cosmetics store there was launched in August 2012 under the brand name Quem Disse, Berenice. Moverover, Coupang a popular South Korean online cosmetic recently shocked the entire beauty segment by securing approximately $1 billion funds from Softbank Corp a Japan based internet firm. To sum it all, with so much retail journeys, acquisition of stakes in beauty portals and growing market potential the future of the global cosmetics market looks fruitful.
Author's Bio- Akhilesh Prabhugaonkar holds a bachelors degree in Electronics Engineering from the reputed Vishwakarma Institute of Technology. He has a special interest in the fields of forensics, world history, international relations and foreign policy, sports, agriculture, astronomy, security, and oceanography. An ardent bibliophile and melophile, Akhilesh loves to write on topics of his interest and various other societal issues. This love for writing made him enter the professional world of content writing and pursue his career in this direction.