Nowadays, people have become more aware regarding the use of cosmetics in their day-to-day life in order to enhance their style, beauty, and overall personality. Cosmetics are a prime element in complementing an individual’s inherent beauty and physical features. Like women, men too have started using cosmetics in their daily routine. Most brands have started coming up with cosmetics specially designed for men.
What are Cosmetics?
Cosmetics are a group of health and beauty products that are used to boost the appearance of a person’s body. There are a large number of cosmetics available for skincare (cleansers, toners, face wash, etc.) and hair care (serums, shampoos, conditioners, etc.). In addition to this, a huge variety of deodorants and color cosmetics are also available in the market.
Each of these cosmetics is designed for distinct purposes and they feature diverse characteristics. These products are primarily offered through retail stores such as supermarkets, exclusive brand outlets, specialty stores, etc. Besides this, these products are also available on various online channels.
Why is the Popularity of Cosmetics Increasing Day-by-Day?
There is an increasing awareness among people regarding premium cosmetic products and their beneficial impact on the skin. Thus, many people are using these products in order to look young and beautiful.
Moreover, people are becoming increasingly concerned about various skincare issues such as dark circles, dull skin, wrinkles, pimples, etc. The various cosmetics available today offer solutions to all of these skin issues. This is increasing the popularity of cosmetics.
What is Trending in the Cosmetic Industry?
Many brands are focusing on products that offer multiple benefits to customers. For instance, face cleansers that can moisturize your skin, have anti-ageing properties, and also protect your skin from sunburn. Such products are getting more and more popular in the cosmetic industry.
With urbanization developing at a fast pace, there is a huge change in the standard of living of people. People are becoming more conscious of their personality and appearance. There is a growing demand for multifunctional makeup, high-end color cosmetics, and many such products from the customers.
With global climate change, extreme weather is more frequent and is affecting more people than ever before. Nowadays, there is an increasing demand from skincare users for appropriate products that will protect their skin in extreme environmental conditions.
Many brands have been advertising white or light skin as a lifestyle change. Mass advertising and social platforms are being used to influence the buying habits of people. Many of the skin lightening cosmetics usually have celebrity endorsements. The desire for lighter skin among individuals is eventually increasing the demand for cosmetics.
Increasing awareness of probable side effects of chemical-based cosmetics and advanced beauty treatments have brought a drastic change in the way people look at cosmetics these days. Thus, there is an increase in the preference for environment friendly as well as natural cosmetic products among people.
The Canadian Cosmetics Industry
The Canada Cosmetics Industry is undergoing ups and downs. Overall sales are affected due to economic conditions and the present market is suppressed due to the health halo epidemic spreading in the entire world. This is because of the growing use of cosmetic products by women and the rising trend for male cosmetics across the country. Canada cosmetics market is worth USD 11.51 billion in 2015 and is expected to grow at a growing CAGR of 6.52% over the forecasted period of 2019-2035. The factors driving the market are high purchasing power in the hands of people, high penetration of cosmetic brands and a strong regulatory framework. The industry faced a tough recession in 2008-2009 due to which there was a decrease in revenue and sales over the forecasted period. Sales in the meantime regained value. The consumers demand for ethical, cruelty free and vegan cosmetics products are due to the heritage and culture prevalent.
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