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Personal Care Market Boosted by Rising Disposable Incomes

Press release   •   Apr 25, 2016 07:42 EDT

Transparency Market Research holds valuable industry intelligence in the form of market-based research documents. These documents are constantly updated in order to incorporate the latest trends and changes in each market. One such up to date report is the “Personal Care Market - Global Analysis and Forecast 2011 – 2017” report, which encapsulates all key factors that are currently influencing – and will continue to influence – this market in the given forecast period. It shows how the developments and marketing strategies employed in the global personal care market have affected several key components of it, along with the perception of the consumers, which has evolved over a period of time.

The main driver of the global personal care market is the increasing disposable income of consumers. This market is based solely on the intent and interest of the consumer, and therefore the spending patterns of each region affect the standing of market products greatly. As more and more consumers are becoming an integral part of the global personal care market, key players can expand their product lines and development efforts to offer a better and wider array of products.

In terms of consumer gender, the global personal care market has usually enjoyed a stronger demand from female consumers. The diversity of products available for female personal care is therefore higher. This segment continues to enjoy high level of innovation and product improvement, especially in the market segments of cosmeceutical and multifunctional products. The rage of products can vary to accommodate different types of hair, skin, regional weather patterns, and even pollution levels. The global personal care market is further boosted by improved efforts by companies in terms of media penetration, promotional offers, and innovative advertising.

Developing economies have been falling behind developed ones when it comes to the consumption of personal care products. The gap is not as wide as it used to be, as rapid urbanization and improved spending power of consumers have allowed a greater market penetration and consumption of high-quality personal care products.

The two key categories within the global personal care market are personal care products and personal care appliances. The segment of personal care appliances includes electric toothbrushes, trimmers, massagers, hair setters, and hair clippers. As for personal care products, the market includes products for skin care, hair care, personal hygiene, oral hygiene, deodorization, bath and shower, and makeup.

The global personal care market is extremely competitive, with a large portion of the market being held by Key Players. Since product trust plays a vital part in purchasing choices of consumers, it is usually the popular players that are trusted the most. The key players in personal hygiene are Proctor & Gamble Company, Helen of Troy Ltd.,Godrej Industries Ltd.,Johnson & Johnson,Unilever, and Colgate-Palmolive Company. Top players in beauty products include Unilever PLC and L’Oréal Paris, while the biggest names in personal care appliances include Panasonic Corporation, Royal Philips Electronics NV, and Colgate-Palmolive.

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