The modern-day document posted via Report Ocean, titled “Bangladesh Skin Care Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023 to 2031,” affords a complete evaluation of the industry, which includes insights on the market trends. The file additionally consists of competitor and regional analysis, and present-day developments in the market. This document can serve as a fantastic information for investors, researchers, consultants, advertising strategists and all these who are planning to foray into the market in any form.
According to Report Ocean, the Bangladesh skin care products market size was valued at $1.16 billion in 2020, and is expected to garner $2.12 billion by 2027, registering a CAGR of 8.1% from 2021 to 2027. The skin care products market exhibits an incremental revenue opportunity of $960 million from 2020 to 2027. Skin care is the practice of improving skin integrity, enhancing its appearance, and relieving skin conditions by using skin care products. Skin care products are manufactured using chemical compounds, medicinal herbs, or natural ingredients. They are sold in various forms, which include creams, lotions, serum, and face mask, among others.
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Rapid growth in e-commerce distribution is the primary factor responsible for counterfeiting of cosmetic products. The Bangladesh cosmetic industry has been strongly hit by counterfeit activities due to large number of consumers purchasing products through online sales channels under the name of international brands. According to the Bangladesh Cosmetics and Toiletries Importers Association, 80% of the cosmetics are produced in the country.
The rest are imported. According to the consumers, half of the cosmetics sold in the market is counterfeit. In the past three years, the Bangladesh Standards and Testing Institution (BSTI) has shut down 26 counterfeit cosmetics factories in Old Dhaka’s Chawkbazar, Jatrabari, Keraniganj, and other parts of the country. These factories were sealed and illegal products were seized and destroyed. Surge in urban population is expected to boost the demand for Bangladesh skin care products. According to the Worldometers, among total population of Bangladesh, 38.6% lived in urban areas in 2019, and it is anticipated to increase in the coming years.
Moreover, rise in consciousness about personal appearance and increase in need to maintain basic personal hygiene drive the demand of skin care products, which in turn fuels the growth of the market. In addition, surge in demand for gender-specific products is anticipated to supplement the market growth in Bangladesh. However, the recent impact of COVID-19 on distribution and retail chain has hampered the Bangladesh skin care products market growth. The Bangladesh skin care products market is segmented on the basis of product type, demographics, age group, and sales channel. Depending on product type, the market is categorized into cream, lotion, and others.
By demographic, it is bifurcated into male and female. On the basis of age group, it is segregated into generation X, millennial, and generation Z. As per sales channel, it is fragmented into supermarket/hypermarket, specialty stores, department stores, beauty salons, pharma & drug stores, and online sales channel.
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Key market benefits for stakeholders
– The report provides extensive analysis of the current & emerging trends and opportunities in the Bangladesh skin care products market.
– The report provides detailed qualitative and quantitative analyses of current trends and future estimations, which help understand the prevailing Bangladesh skin care products market opportunities.
– A comprehensive analysis of factors that drive and restrict the growth of the Bangladesh skin care products market is provided in the study.
– An extensive analysis of the market is conducted by following key product positioning and monitoring top competitors within the market framework.
– The report provides extensive qualitative insights on the potential & niche segments
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
In this report, the key questions answered:
- How has the adoption of Market impacted COVID-19?
- What are the key market tips in key areas?
- Which utilized sciences are most impacting the anticipated global enterprise?
- Who are the major global game enthusiasts in modern times dominating the Market?
- How do AI clients turn out to be conscious of technological knowledge in strolling theatres?
- What are the vital corporation fashions determined via way of the foremost market players?
- What are the key factors that will have an effect on the expand of Market globally?
- How foremost game enthusiasts in the Global corporation environment are incorporating key
- What is the present day income contribution of distinct product kinds in the market and what are the predicted changes?
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