The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Luxury Bath and Body Products market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Luxury Bath and Body Products
The report offers actionable and valuable market insights of Luxury Bath and Body Products. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Luxury Bath and Body Products Market across various industries and regions.
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This newly published and insightful report sheds light on Market Insights of Luxury Bath and Body Products, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Luxury Bath and Body Products Market.
The luxury bath and body products market revenue was estimated at US$ 14 Bn in 2021 and is predicted to grow at a compound annual growth rate of 7.5% from 2022-2032. According to a recently published Fact.MR report, the luxury bath and body products market will reach US$ 32 Bn by 2032.
The COVID-19 pandemic forced most brick-and-mortar stores to shut down for weeks; this may slow down the market in the near term. Due to a lack of access to suitable and apt products in countries such as India, where herbal and Ayurvedic remedies are already popular. As a result, many people turned to DIY procedures and ayurvedic home remedies made of natural ingredients. Furthermore, the pandemic has also enabled many brands to establish themselves well on various digital platforms
Key Takeaways from the Market Study
- Global market for luxury bath and body products to be valued at over US$ 15 Bn in 2022
- The North American market is predicted to hold a 25.5% revenue share by 2022.
- Asia Pacific is expected to register the highest CAGR of 8.8% from 2022 to 2032.
- In 2022, body lotions and creams are expected to generate over 35.5% of revenue, and will remain dominant over the forecast period.
- Body oil is forecast to grow at 8.5% between 2022 and 2032, the second-fastest segment.
- The offline distribution revenue will account for over 70.5% of all revenue in 2022.
- The online distribution channel is expected to record a 10.0% CAGR between 2022 and 2032.
Increasing awareness regarding personal beauty and skin health amongst the millennials is significantly widening prospects for luxury bath and body products. Additionally, rising affluence is also providing a wide ground for market growth, says a Fact.MR analyst.
Competitive Landscape
Several large established brands and some new luxury skincare companies dominate the market. Major manufacturers hold significant market shares in major parts of Europe and North America.
- A luxury beauty brand, Omorovicza, added another product to its line of scalp care serums in March 2020. In addition to absorbing excess oil from the roots, the Scalp Reviver is said to remove product buildup, stimulate hair growth, and shield the scalp from urban stress.
- A new body cream launched by cult skin-care brand Augustinus Bader in July 2019. The company’s “trigger factor” technology is designed to help guide nutrients into the skin’s stem cells to stimulate renewal, and this product is meant to provide the body with the benefits. It also has Brazilian Candeia Oil as an ingredient to help the skin barrier.
- Dr. Jart+, a global skincare company with a strong presence in South Korea, was acquired by Estée Lauder Companies Inc. in December 2019. The acquisition was intended to help Estée Lauder expand its beauty care business in South Korea.
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More Valuable Insights on Luxury Bath and Body Products Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Luxury Bath and Body Products, Sales and Demand of Luxury Bath and Body Products, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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