Global Body Polishes Market 2019-2023 | Manufacturers Focus on R&D and Product Innovation to Boost Growth | Technavio

LONDON–(BUSINESS WIRE)–#BodyPolishes–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.

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
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

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.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

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