Luxury Bath And Body Products Global Market Report 2024

Luxury bath and body products are high-quality items designed for bathing and body care, providing a luxurious and relaxing experience due to the use of premium ingredients. These products are generally expensive.

Luxury bath and body products include body oils, body lotions and creams, body washes, and other items. Body oil is a lightweight, nourishing, and protective moisturizer that penetrates the skin's upper layers to enhance its quality and even out skin tone. These products are distributed through both online and offline channels.

The luxury bath and body products market research report is one of a series of new reports from The Business Research Company that provides Luxury bath and body products market statistics, including luxury bath and body products industry global market size, regional shares, competitors with a luxury bath and body products market share, detailed luxury bath and body products market segments, market trends and opportunities, and any further data you may need to thrive in the luxury bath and body products industry. This luxury bath and body products market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The luxury bath and body products market size has grown rapidly in recent years. It will grow from $16.7 billion in 2023 to $18.51 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. Historically, growth in the beauty and personal care industry can be attributed to the industry's expansion, the use of premium ingredients, the influence of spa culture, product innovation, the culture of gifting, and the evolving retail environment.

The luxury bath and body products market size is expected to see rapid growth in the next few years. It will grow to $28.12 billion in 2028 at a compound annual growth rate (CAGR) of 11.0%. The anticipated growth in the forecast period is driven by several factors, including a focus on natural and organic ingredients, globalization and increased access to brands, the rise of beauty subscription boxes, the boom in e-commerce, and the emergence of niche and specialty brands. Major trends expected in this period include digital engagement, collaborations with spas and resorts, innovative packaging design, the development of sustainable and eco-friendly products, and the use of digital influencer marketing.

The escalating demand for luxury items such as lotions, shower gels, and body wash is fueling the growth of the luxury bath and body products market. Luxury products are characterized by their ability to lather well, boast delightful scents, and offer an appealing visual experience during baths. This market surge is driven by the growing trends in self-care and the increased desire for luxurious personal care products. For instance, according to Bain & Co.'s Luxury Report 2021, the demand for luxury goods saw a notable increase of 13% to 15%, reaching EUR 1.14 trillion ($1.34 trillion) in 2021. Consequently, the heightened demand for luxury items is expected to further drive the market demand for luxury bath and body products in the forecast period.

The burgeoning expansion of the e-commerce industry is poised to drive the growth of the luxury bath and body products market in the foreseeable future. E-commerce, denoting electronic commerce, involves the online buying and selling of goods, services, or information, facilitating broader accessibility and global presence for luxury bath and body products. This expansion broadens their market reach and consumer base, driven by increased online visibility and the convenience of online purchases. For instance, as reported by Forbes in February 2022, e-commerce sales in the US reached $870 billion in 2021, marking a 14.2% increase from 2020 and a significant 50.5% surge from the previous year. Furthermore, e-commerce constituted 13.2% of total retail sales in the US in 2021. Hence, the escalating expansion of the e-commerce industry is fueling the growth of the luxury bath and body products market.

The luxury bath and body products market is witnessing a notable trend where biotechnical advancements are being integrated into bath products. Biotechnology harnesses biological processes to create technologies and products that enhance both human lives and environmental health. Companies within this market segment are particularly focused on developing innovative products that offer heightened efficacy and effectiveness. For instance, in October 2021, Everist, a manufacturer dedicated to single-use plastic-free beauty products, unveiled a groundbreaking waterless body wash concentrate. This plant-based, vegan, and cruelty-free formula is enriched with various natural oils and nutrients. Activated by water, the body wash concentrate requires a simple paste-to-lather motion. Users can easily lather the paste on their hands to initiate the cleansing process for the skin.

Prominent companies within the luxury bath and body products market are strategically developing advanced products, particularly premium body care products, to secure a competitive advantage. Body care products encompass a spectrum of personal care items crafted to augment skin and body health, hygiene, and appearance. For instance, in April 2021, Olay, a brand under the Procter & Gamble Company (P&G), a US-based consumer goods corporation, introduced three new premium collections highlighting breakthroughs in body care science. These collections comprise the Cleansing and Renewing Body Care Duo with Retinol, the Premium Exfoliating Body Wash Collection, and the Dermatologist Designed Collection, each tailored to address distinct skin concerns. Infused with exclusive ingredients such as retinol, deep-sea minerals, and moisturizers recommended by dermatologists, these curated assortments aim to deeply nourish and revitalize the skin, promising noticeable transformation from head to toe. The range caters comprehensively to diverse skin types and concerns, ranging from dry and stressed skin to conditions such as itchiness, roughness, or eczema-prone skin, aligning with Olay's commitment to providing bespoke solutions for fearless and healthy skin.

In July 2021, NuWhirl Systems Corp., a US-based manufacturer of luxury bath products, acquired the luxury bath product line of Custom Molded Products (CMP) for an undisclosed sum. This strategic move is expected to fortify the company's standing as a premier supplier of jetted and high-end bath products. The acquisition will notably broaden NuWhirl's customer base and enhance its capabilities. CMP, a European-based manufacturer, specializes in luxury bath and body products designed for the recreational pool and spa industry.

Major companies operating in the luxury bath and body products market report are The Estee Lauder Companies Inc., Chanel Limited, Kao Corporation, Tiffany & Co., Burberry Group PLC, Hugo Boss AG, Lancaster Group S.A., Marc Jacobs International LLC, Davidoff & Cie. Fine Tobacco AG, Calvin Klein Inc., Chloe SAS, Escada AG, Roberto Cavalli SpA, Philosophy (skincare brand), Bamford Watch Department Limited, Tata Harper Beauty LLC, Aromatherapy Associates Ltd., Augustinus Bader Ltd., Chantecaille (UK) Ltd., Diptyque Parfums, Jil Sander GmbH, Joop! Parfumerie GmbH, Kylie Cosmetics LLC, Lacoste S.A., Massey Medicinals LLC, Miu Miu SpA, SKKN by Kim Kardashian, This Works Products Limited, Bathing Culture Inc., Onsen Secret Inc.

North America was the largest region in the luxury bath and body products market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the luxury bath and body products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the luxury bath and body products market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The luxury bath and body products market consist of sales of bath salt, body butter, shampoo bar, and essential oils. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Luxury Bath And Body Products Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on luxury bath and body products market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for luxury bath and body products ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The luxury bath and body products market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Product: Body Oil; Body Lotions & Creams; Body Washes; Other Products
• 2) By Distribution Channel: Online; Offline
• Companies Mentioned: The Estee Lauder Companies Inc.; Chanel Limited; Kao Corporation; Tiffany & Co.; Burberry Group plc
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.