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Australia Beauty and Personal Care Products Market Report with Executive Summary, Size, Analysis and Forecast to 2022-2031
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The Australian beauty and personal care products market was valued at USD 3.73 billion in 2020, and it is projected to register a CAGR of 3.87% during the forecast period (2022-2031).
The COVID-19 crisis is likely to accelerate trends that were already shaping the market, such as the rise of the global middle class and the use of e-commerce. Online distributors are recording an increased interest as home-bound consumers explore retail alternatives. Some beauty-product brands and retailers with inventory and shipment operations ready to scale up are reporting e-commerce sales twice as high as their pre-COVID-19 levels due to the increase in the DIY (Do it yourself) beauty products in the pandemic.
Due to high disposable income, Australian consumers spend highly on beauty and personal care (color cosmetics and skincare in particular). Companies are mainly targeting millennials, as they tend to follow trends in the industry closely and make frequent purchases based on new product claims and application methods.
With consumers increasingly turning to the internet for advice on beauty and personal care products, the influence of digital channels has grown lucratively. Consumers' purchasing decisions in Australia are highly influenced by social media, as they follow vlogs, bloggers, and influencers for information on products and application techniques, thus, driving the market studied.
Key Market Trends
Increasing Trend of Online Purchasing
Online purchasing is gaining popularity in Australia. In the given four-week period, 8 billion Australians above the age of 14 years made at least one online purchase. Social media has played a crucial role in the Australian beauty and personal care market, allowing companies to build their brands in cost-effective ways. Companies are also engaging bloggers and vloggers for promoting certain brands on social media and other websites. This move helped the online purchasing trend to grow lucratively over the years in Australia. The trend of getting inspired by celebrities and trying to look similar has become very common among the younger population in the region. This trend has been driving the growth of online purchasing in Australia, owing to the online tutorials and vlog promotions of different brands that can be purchased online.
High Demand for Skin Care Products
People in Australia are highly involved in outdoor sports and activities, such as beach cricket, rock climbing, abseiling, skydiving, bungee jumping, and hiking. Such an active lifestyle and high exposure to the sun make them opt for sun care products for maximum protection of skin.
Australia has the highest rate of skin cancer in the world due to the high exposure to ultraviolet radiation over a lifetime. The increasing prevalence of skin cancer among people in the country led to the adoption of sun protection regimens by people, including a significant usage of sun protection products.
Local players in the country have also developed premium sun care products that have successfully penetrated the domestic and international markets. Players, such as Australian Gold LLC, also offer a wide range of after-sun, self-tanning, and sun protection products that are organic and cruelty-free products.
L’Oréal Australia was one of the leading players in the Australian beauty and personal care products market during the previous year due to its wide portfolio of products and its frequent new product innovations and brand launches. Procter & Gamble Australia witnessed a market share drop post the agreement to incorporate its fine fragrances, color cosmetics, and hair care businesses into Coty. Mergers and acquisitions characterized the beauty and personal care industry in Australia, as companies looked to consolidate their offerings and expand into new product areas. Some of the other prominent players operating in the market are Unilever, Estee Lauder, and Colgate-Palmolive.
SDKI Inc.'s goal is market scenarios in various countries such as Japan, China, the United States, Canada, the United Kingdom, and Germany. Is to clarify. We also focus on providing reliable research insights to clients around the world, including growth indicators, challenges, trends and competitive environments, through a diverse network of research analysts and consultants. With SDKI gaining trust and a customer base in more than 30 countries, SDKI is even more focused on expanding its foothold in other pristine economies.
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