Major companies in the toiletries market include Reckitt Benckiser Group; Unilever; Henkel AG & Co and Beiersdorf AG. The global toiletries market is expected to grow from $190. 14 billion in 2020 to $218.
New York, Feb. 03, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Toiletries Global Market Report 2021: COVID 19 Impact and Recovery to 2030Including: 1) By Type: Lotions (" - https://www.reportlinker.com/p06018800/?utm_source=GNW
8 billion in 2021 at a compound annual growth rate (CAGR) of 15.1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $286.86 billion in 2025 at a CAGR of 7%.
The toiletries market consists of sales of toiletries by entities (organizations, sole traders or partnerships) that prepare, blend, compound, and package toilet preparations, such as perfumes, shaving preparations, hair preparations, face creams, lotions (including sunscreens), and other petroleum based cosmetic preparations. The toiletries market is segmented into lotions (including sunscreens); hair preparations; face creams; perfumes; shaving preparations and other cosmetic preparations.
Asia Pacific was the largest region in the global toiletries market, accounting for 39% of the market in 2020. North America was the second largest region accounting for 26% of the global toiletries market. Africa was the smallest region in the global toiletries market.
Companies are focusing on manufacturing of toiletries based on natural and organic products due to increased awareness of consumers about the hazards due to the usage of synthetic materials. Toiletries are the products focused on consumer hygiene and beatification. Companies are producing products with high rate of transparency in ingredients, packaging and sustainability as the end users are opting healthy lifestyle. Natural and Organic Products are obtained from plant extracts, vegetable and essential oils with higher levels of vitamin C and essential minerals such as calcium, magnesium, iron and chromium and are eco-friendly. For instance, in 2018, L’Oreal Professionnel has launched “Botanea” a 100% Herbal based natural Hair Color in Western Europe.
Strict regulations by government agencies on the use of certain ingredients in manufacturing cosmetics is expected to act as a key restraint on the market. These ingredients are prohibited due to their toxicity and possible skin diseases due to their use. The EU Cosmetics Regulations lists substances that cannot be used and also those that can be used only in specified circumstances. Similarly, the US Food and Drug Administration (FDA) prohibit or restrict a list of ingredients in cosmetics. These prohibited substances include bithionol, chloroform, mercury compounds, methylene chloride, vinyl chloride and chlorofluorocarbon propellants.
The aging population is expected to be a growth driver for this market. Sales of products such as anti-aging creams and peels, wrinkle-reducing moisturizers, and other anti-aging topical treatments are expected to increase. Apart from this, older women usually have more disposable income than younger women. This will make it easier for them to spend more on cosmetics. According to the World Population Ageing 2019 report, there were 703 million people over the age of 65 in 2019 and this is expected to increase to 1.5 billion in 2050. This is expected to increase the demand for various cosmetic products, especially cosmetics with pharmaceutical capabilities, thus driving the toiletries market going forward.
Read the full report: https://www.reportlinker.com/p06018800/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: email@example.com US: (339)-368-6001 Intl: +1 339-368-6001