Yahoo Finance Body Lotions Global Market Report 2023
Major players in the body lotions market are Aveeno, Cetaphil, Olay, Alba Botanica, Avalon Organics, Clarins, Crabtreeand Evelyn, Hempz, Murad, and L’Oréal S.A. The global body lotions market will grow from $63.9 billion in 2022 to $72.42 billion in 2023 at a compound annual growth rate (CAGR) of 13.3%.
New York, Feb. 06, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Body Lotions Global Market Report 2023" - https://www.reportlinker.com/p06281603/?utm_source=GNW
Major players in the body lotions market are Aveeno, Cetaphil, Olay, Alba Botanica, Avalon Organics, Clarins, Crabtreeand Evelyn, Hempz, Murad, and L’Oréal S.A.
The global body lotions market will grow from $63.9 billion in 2022 to $72.42 billion in 2023 at a compound annual growth rate (CAGR) of 13.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The body lotions market is expected to grow from $109.53 billion in 2027 at a CAGR of 10.9%.
The body lotions market consists of the sales of water-based, and occlusive body lotions.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Body lotions are smooth liquid preparations designed to be applied to the skin for medicinal, cosmetic, or protective purposes. For example, sunscreens are a substance that protects from the sun’s ultraviolet (UV) radiation and thus helps against sunburns.
The main types of body lotion are dry skin body lotion, oily skin body lotion, normal skin body lotion, and other types.Body lotions are smooth liquid preparations designed to be applied to the skin for medicinal, cosmetic, or protective purposes.
These are applied to men, women, and babies and are segmented by channel into direct sales and distributors.
Asia Pacific was the largest region in the body lotion market in 2022.North America was the second-largest region in the body lotions market.
The regions covered in the body lotions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Rapid growth in the millennial population is expected to drive the perfume market. According to Cosmetics Europe, the cosmetics and personal care businesses add at least €29 billion (USD 33.14 billion) to the European economy each year, and the number of individuals using cosmetics products is rapidly expanding, surpassing 500 million in Europe. By 2025, millennials are expected to constitute nearly three-quarters of the global workforce. As millennials will represent a large part of the global workforce and play a major role in driving the current economy, their preferences and shopping habits will be an important driving factor for the lotion market.
Strict regulations by government agencies on the use of certain ingredients in making cosmetics are expected to act as a key restraint on the market.These ingredients are prohibited due to their toxicity, and their use may lead to various skin diseases.
The EU Cosmetics Regulations list substances that cannot be used and also those that can be used only in specified circumstances.Similarly, the US Food and Drug Administration (FDA) prohibits or restricts a list of ingredients in cosmetics.
These prohibited substances include bithionol, chloroform, mercury compounds, methylene chloride, vinyl chloride, and chlorofluorocarbon propellants.
The demand for multi-benefit combinations has been increasing rapidly.Products such as foundations with anti-aging serums, sun screen lotions, nail polish with UV protection, and anti-aging claims are introduced into the market.
Multi-benefit solutions are expected to continue to penetrate further into different categories, such as hair care with anti-aging or fragrance to lipsticks with lip care.
The countries covered in the body lotions market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The body lotions market research report is one of a series of new reports that provides body lotions market statistics, including body lotions industry global market size, regional shares, competitors with a body lotions market share, detailed body lotions market segments, market trends and opportunities, and any further data you may need to thrive in the body lotions industry. This body lotion market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.
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