Hiding age is not a big deal anymore!

Who doesn't want to look good these days!? It's a matter of choice perhaps, representing style, and methodology has been taking a grasp of the world. The cosmetic industry has been blooming on the counter and has seen a rise in the global scale for past few years as stated by personal care market research reports.

COSMETIC MARKET

Healthcare market research reports state a registered growth of around 8 percent with a CAGR OF 8.1, which has been subjected to the year 2011-2023. Additionally, there has been a 25 percent annual growth in profits every year in developing countries across the globe. This accounts to attain around 20 Billion USD by the end of 2025.

Previously the market value of the cosmetic industry had been priced at around USD 524 Billion by the end of 2017, which registered a CAGR of around 6 percent. Although growth has been fairly limited to products like oral care products, hair care, soaps, gels, and coloring cosmetics, the trend has also been shifted across fragrances and sun care products. Consequently, the current market research report also focuses on the distribution channels such as direct selling, specialty store, pharmacies, salons, and supermarkets.

INFLUENCING FACTORS

The industry of beauty products has been affected globally with a series of ups and downs that holds an account of being invulnerable. Moreover, on the record of a serious economic downturn that happens largely due to degradation of sales, the CAGR has been monitored to be seen in a range of stable atmosphere. This justifies the tendency of the sales of cosmetics to maintain a certain volume over one financial year. The reason is that of a continuous usage of various cosmetic products by women and equally increasing men products in the vicinity.

REASONS

The past two decades have seen a population of striking decline in fertility as well as mortality which resulted in an aging population universally. Henceforth, men and women who have a strong will to retain their youthful appearances are constantly on the lookout for better grooming and nurtured products. Consequently, a very rapid age evolving demographic has led to the robust demand for anti-aging goods which are consequently used to prevent wrinkles, dry skin, uneven skin tone, age spots and repair hair damages. Furthermore, these requirements on the rise have given an opportunity to explore new inventions in the world of cosmetics, which further intensifies the industry's growth factor.

By the year 2050, the population of above 60 years of age has been expected to reach for a whopping 2.09 Billion. Additionally, the life expectancy ratio of women has been prophesied to get a rise from 82.9 to around 87 years subsequently in the years 2005 to 2050. Men not being far behind, have been expected to raise the life expectancy level for 79 to 84 years. The cosmetics product thus, have been enormously thriving on the needs of these aged population.

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