Luxury Bath & Body Products Market Trend Analysis by Product (Luxury Bath & Body Washes, Luxury Bath & Body Lotions & Creams, Luxury Bath & Body Oils) , by distribution channel (online, offline sales), by region – Global forecast 2022-2032
ROCKVILLE, Md., Feb. 10 2022 (GLOBE NEWSWIRE) — The luxury bath and body products market revenue was estimated at US$14 billion in 2021 and is expected to grow at a healthy pace. compound annual growth rate of 7.5% from 2022 to 2032. According to a recently released Fact.MR report, the market will reach US$32 billion by 2032. The market is driven by growing consumer preference for natural or chemical-free products.
The growing awareness of personal beauty and skin health among millennials is dramatically expanding the outlook for luxury bath and body products. Moreover, growing wealth also provides ample ground for market growth, says an analyst from Fact.MR.
The luxury bath and body products market is expected to reach a global market size of US$15.05 billion by the end of 2022. This market is expected to be driven by increased usage of self-care products and the demand for luxury products such as lotions, shower gels and body washes.
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The COVID-19 pandemic forced most physical stores to close for weeks; this could slow the market in the short term. Due to a lack of access to suitable and appropriate products in countries like India, where herbal and Ayurvedic remedies are already popular. As a result, many people have turned to DIY procedures and Ayurvedic home remedies made from natural ingredients. In addition, the pandemic has also enabled many brands to establish themselves well on various digital platforms.
Luxury Bath & Body Products Market Outlook Demand Analysis 2022-2032
The global luxury bath and body products market grew at a compound annual growth rate of 3.8% between 2015 and 2021 according to market research and competitive intelligence provider Fact.MR. North America was the dominant regional market at that time and held a significant share of global demand.
According to Fact.MR, the market is expected to grow by 2.1x during the forecast period 2022-2032. The largest market share is expected to be held by North America. Changing consumer shopping habits will drive the growth of the bath and shower products market in this region.
Key Players Operating in Luxury Bath & Body Products Market
Several big established brands and a few new luxury skin care companies dominate the market. Large manufacturers hold significant market shares in major regions 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 supposed to eliminate the product build-up, stimulate hair growth and protect the scalp from urban stress.
A new body cream launched by cult skincare 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 the renewal, and this product is intended to provide the body with the benefits. It also contains 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 aimed at helping Estée Lauder grow its beauty care business in Korea from South.
To learn more about Luxury Bath & Body Products Market, you can contact our analyst at https://www.factmr.com/connectus/sample?flag=AE&rep_id=7117
Luxury Bath & Body Products Market Analysis by Country
In terms of geography, the global bath and body products market can be divided into five regions: North America, Europe, Asia-Pacific, Middle East & Africa and South America.
Europe is expected to experience significant growth between 2022 and 2032. Consumers are increasingly demanding luxury bath and body products made with natural and organic ingredients. A CAGR of 8.5% is expected for the European market in the coming years.
North America accounted for the largest market share, followed by Europe. Changing consumer shopping habits are the main driver of market growth in this region.
Also, consumers in the region are asking for natural and organic compositions, with fragrances and moisturizing properties. Additionally, factors such as increasing penetration of e-commerce and social media are contributing to the growth of the North American market.
Key insights from market research
Global Luxury Bath & Body Market to be Valued at Over US$15 Billion in 2022
The North American market is expected 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 expected to grow 8.5% between 2022 and 2032, the second fastest segment.
Offline distribution revenue will represent more than 70.5% of all revenue in 2022.
The online distribution channel is expected to register a CAGR of 10.0% between 2022 and 2032.
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Key segments covered by the luxury bath & body products industry survey
Luxury bath and body cleansers
Luxury bath and body lotions and creams
Luxury bath and body oils
Other Luxury Bath & Body Products
By distribution channel
The study offers data-driven insights and advice on several aspects. Some of the more notable issues are:
What are the recent major trends that can influence product lifecycles and ROI?
What regulatory trends are shaping enterprise-level, enterprise-level, and functional-level strategies?
What micromarketing initiatives from major players will bring in investments?
What can be the best framework and tools for PESTLE analysis?
Which regions will see new opportunities emerge?
What breakthrough technologies are being used to capture new revenue streams in the near future?
What operational and tactical frameworks are adopted by the different actors to build customer loyalty?
What is the current and expected intensity of competition in the market in the near future?
Explore Fact.MR’s consumer goods coverage –
luxury eyewear market – The global luxury eyewear market is expected to grow at a modest CAGR of over 3% over the forecast period (2019-2027) and reach a valuation of over US$50 billion.
perfume market – The development of these fragrances has further expanded the size of the industry. An increase in shopper capacity and trends such as aromatherapy have amplified the visibility of fragrance products.
hand soap market – An increasing demand for hand soap was observed in the first quarter of 2020 due to the COVID-19 pandemic.
body mist market – The growing inclination of consumers towards self-care, along with the increasing use of body deodorants to reduce or mask the effects of perspiration, has supported the growth of the body mists industry.
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