Global Cosmetic Market
Companies operating in the global cosmetics market must compete for shelf space in retail outlets, not only with rival companies offering other well-known brands but also cheaper copycat brands offering similar unbranded products.
Non-western beauty cultures are becoming more influential; consumers beyond North America and Europe are remaking the beauty market in their own image and likeness. As a result of this shift to new regions, beauty cultures which are quite different from the mature European and North American markets will play a much more influential role. Ethnic and cultural diversity shape consumers beauty rituals and product priorities. Likewise, diversity and variety have become the norm within the global cosmetics market.
As consumers become increasingly wary of potential toxicity in cosmetics, market segments offering fragrance-free products made using natural ingredients and essential oils are likely to record strong growth. Leading companies in the global cosmetics market include L'Oréal, Estée Lauder and Beiersdorf.