Personal care product market to rise to $650 billion by 2024
The global personal care product market is expected to reach U.S. $650.10 billion by 2024 and is growing on account of rising awareness regarding personal health and hygiene, according to a new report by Hexa Research (hexaresearch.com). Increasing sales of these products through e-commerce channels is anticipated to foster the growth of the market. Additionally, innovative packaging designs of this products are expected to boost the market.
In 2016, Asia Pacific held the largest market share and expected to maintain its dominance over the forecast period. North America personal care products market is anticipated to show steady growth rate on account of increasing demand for luxury personal care products. The increase in consumer spending power and massive advertising & promotional activities is expected to drive the growth of the market.