InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “Global Black Beauty Market – (By Cosmetics (Face Cosmetic, Eye Cosmetic, Lip Cosmetic, Others), By Facial Skin Care (Facial Moisturizer, Facial Treatment, Eye Skin Care, Others), By Fragrance (Cologne & Perfume, Body Spray, Gift Sets, Others), By Hair Care (Hair Accessories, Conditioner, Styling Products, Others), By HBL (Body Lotion, Eczema & Psoriasis, Others)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031.”
According to the latest research by InsightAce Analytic, the Global Black Beauty Market is valued at US$ 8.24 Bn in 2023, and it is expected to reach US$ 21.71 Bn by 2031, with a CAGR of 13.1% during the forecast period of 2024-2031.
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Black beauty is the term used to describe a wide range of items and offerings that are specially made to satisfy the needs and preferences of Black consumers. There are many techniques on platforms that highlight and encourage Black beauty; these range from stylistic goods designed. Market expansion is fueled by ongoing developments in ingredients and technology catered to the particular demands of Black customers, such as skin care for particular issues and hair products for a variety of materials. Businesses that emphasize multicultural and inclusive product offers and advertising strategies draw in and keep Black customers, which increases consumer interest and loyalty to the organization. However, particularly in price-conscious economies, specialized texturizing chemicals and processing methods could be prohibitively expensive. The continuous struggle of producers to strike a balance between lower prices and better textures may restrict the market’s potential for expansion.
List of Prominent Players in the Black Beauty Market:
- SheaMoisture
- Carol’s Daughter
- The Mane Choice
- Black Opal Beauty
- Fenty Beauty by Rihanna
- IMAN Cosmetics
- Juvia’s Place
- Briogeo Hair Care
- Aunt Jackie’s Curls & Coils
- Urban Hydration
- Camille Rose Naturals
- Taliah Waajid Natural Hair Care
- Beauty Bakerie
- Pattern Beauty by Tracee Ellis Ross
- Others
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Market Dynamics:
Drivers-
The growing demand for the black beauty market is fueled by the effect of the internet on the promotion of beauty standards. Because it shapes beauty styles and standards, social media has a big impact on the beauty industry. Platforms present a range of beauty norms, and experts have a significant impact on customer preferences. The constantly shifting environment of the beauty industry is shaped by social media’s ability to incorporate trends and customer needs effectively. An illustration of this would be a cosmetics instructional program involving a well-known beauty influencer, which might cause a spike in demand for particular items.
Challenges:
The main obstacles to the black beauty market’s expansion are expected to be a lack of knowledge, a lack of qualified workers, and a lack of conventions and etiquette as a result of restrictions and separation in developing nations. The black beauty market has not grown as quickly because of elevated chemical determines, reduced energy, and an increase in allergic content. Its production may also include environmentally harmful techniques, which would slow down the market. Furthermore, certain users may experience severe effects, such as discomfort, infections, skin rashes, and gastrointestinal upset, from texture-enhancing compounds, or they may be allergic. These repercussions could have catastrophic effects on the market. Customers now focus more on products that are readily stored in stores than on textured goods. The pandemic’s effects on supply chains globally made it difficult to find the ingredients and raw materials needed. These changes in supply and demand have an impact on the price and accessibility of the black beauty industry.
Regional Trends:
The North American black beauty market is anticipated to report a largest market revenue share. It is projected to grow at a high CAGR in the near future because people have more disposable income and a greater desire for high-end, luxurious products. Cosmetic brands are expected to expand regionally in North America due to the rising number of working women and the exponential rise of beauty clinics in both nations. Besides, Europe had a considerable share of the market due to technological advancements and affluence. An increase in discretionary money and changes in consumer preferences are two major forces propelling demand in the area.
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Recent Developments:
- In June 2024, Proctor & Gamble and IMAN Cosmetics, Beauty Care, and Aromas established their strategic cooperation. The prestigious brand defied tradition again within the terms of the license and marketing deal, and it is currently offered at major retailers like Amazon, Walmart, Target, Walgreens, and Drugstore Reader.
- In March 2024, Urban Hydration’s organic, potent, and reasonably priced beauty and haircare offerings are redefining the industry. These items are currently conveniently available at Amazon, allowing you to update your cosmetic routine. These products are a must-try as they guarantee amazing outcomes.
Segmentation of Black Beauty Market-
By Cosmetics-
- Face Cosmetic
- Eye Cosmetic
- Lip Cosmetic
- Others
By Facial Skin Care-
- Facial Moisturizer
- Facial Treatment
- Eye Skin Care
- Others
By Fragrance-
- Cologne & Perfume
- Body Spray
- Gift Sets
- Others
By Hair Care-
- Hair Accessories
- Conditioner
- Styling Products
- Others
By HBL-
- Body Lotion
- Eczema & Psoriasis
- Others
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- South East Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
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About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
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