The global body polishes market is expected to post a CAGR of over 4% during the period 2019-2023, according to the latest market research report by Technavio
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181109005313/en/
Technavio has published a new market research report on the global body polishes market from 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the market is increasing consumer awareness about the benefits of body polishing. Owing to the significant increase in awareness about the numerous health and wellbeing benefits associated with body polishes, consumers have been adopting body polishes. Body polishing aids in removing dead cells by exfoliating the skin, which, in turn, promotes the growth of new and healthy cells. It also removes dirt and excess oil from the skin. Vendors are effectively leveraging online and offline platforms to educate consumers about the benefits of body polishes. Thus, the growing awareness about the benefits of body polishing is likely to drive the global body polishes market during the forecast period.
This market research report on the global body polishes market 2019-2023 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
In this report, Technavio highlights the factor manufacturers to focus on R&D and product innovation as one of the key emerging trends in the global body polishes market:
Global body polishes market: Manufacturers to focus on R&D and product innovation
Prominent vendors are investing significantly in R&D activities to stay ahead of the competition. These vendors focus on enhancing product quality based on consumer preferences. Furthermore, manufacturers are focusing on addressing environmental concerns by introducing eco-friendly and organic skin care products to meet changing consumers expectations. However, owing to the prevalence of intense competition, vendors are developing innovative compositions to differentiate their products and retain their market share. Feedback and suggestions provided by end-users help in product improvement. Unilever and L'Oreal have significantly increased their R&D investments for the development of innovative skin care products, including body polishes.
"Apart from R&D and product innovation, another key factor boosting the growth of the market is superior quality offerings leading to product premiumization. A wide variety of products with different price range, composition, ingredients, and quality are available in the global body polishes market. Consumers prefer standard-quality products that are non-toxic, long-lasting, and without any adverse effect on the skin. Estee Lauder, Unilever, and L'Oreal brands have strong brand recognition and loyalty among customers. Therefore, consumers are prepared to pay an additional price for body polishes offered by these brands," says a senior analyst at Technavio for research on cosmetics and toiletry.
Global body polishes market: Segmentation analysis
This market research report segments the global body polishes market by distribution (offline and online) and geographical regions (APAC, EMEA, and the Americas).
The APAC region led the market in 2018 with a market share of over 39%, followed by Americas and EMEA respectively. The increase in overall population, popularity of western BPC products, including skin care products, increasing disposable income, rapid urbanization, and rise in demand for BPC products from male consumers are factors driving the market growth in the region.
Looking for more information on this market? Request a free sample report
Technavio's sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at firstname.lastname@example.org
Media Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200