Know about Luxury Cosmetics
Cosmetics refer to products used to cleanse the skin and enhance the physical features of humans. These include products such as skincare, haircare, makeup and fragrances. Since time immemorial, the human race has embraced altering their bodily aspects to enhance their self-esteem. Cosmetics play a vital role in complementing an individual's inherent beauty and physical features. In the twenty-first century, beauty has been reimagined as a result of increased focus of consumers on skincare and cosmetics needs. The focus has ultimately shifted toward high end luxury products with premium quality and organic ingredients. Based on ethnobotanical knowledge, humans traditionally used natural resources as primary ingredients to produce skincare products.
The expansion of high-income class and increase in travellers worldwide are two major factors positively impacting the growth of the luxury cosmetics market. Rise in disposable income levels of individuals across several regions along with the growth in GDP have inclined consumers focus toward luxury goods. Consequently, this shift in consumers purchasing approach positively influences the market for luxury cosmetic products. In addition, consumers are showing an increased preference for products manufactured using natural and organic ingredients, especially in skincare and fragrance segment. For the same reason, manufacturers are producing cosmetic products with organically derived ingredients. This trend among consumers and manufactures has ultimately enabled the expansion of the luxury cosmetics market. Furthermore, the increase in online shopping among consumers due to factors such as convenience, international reach and wide choice of options, further fuels the growth of the luxury cosmetics market. However, short shelf life of personal care products, especially manufactured using natural ingredients limit the growth of the luxury personal care and cosmetics market.
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