Sweden Cosmetics Products Market - Growth, Trends, and Forecasts (2023-2028)

The Sweden cosmetics products market is projected to witness a CAGR of 6.68% during the forecast period.

Key Highlights

• Consumers in the country spend heavily on their appearance and thus use cosmetics products. A union for skin-benefiting and beautifying aspects of new makeup products through research by utilizing natural products is also fueling the demand for cosmetics in the market in Sweden.
• Moreover, consumers also demand enhanced functionality and eco-friendliness in cosmetic designs resulting in exciting innovations in the designs and packaging of cosmetic products. Manufacturing companies also invest in creating innovative and sustainable products, helping them increase their revenues.
• The COVID-19 pandemic has had a negative impact on beauty and cosmetics products in Sweden. Disruptions in the supply chain caused a significant challenge as the demand decreased due to low purchasing power and willingness to buy.
• Furthermore, the on-premise sales through supermarkets and convenience stores witnessed a decline due to subsequent lockdowns and the closure of retail stores, as individuals have been following social distancing measures and avoiding gatherings and outings. However, sales through online retail channels majorly supported the market's growth over the recent past.

Sweden Cosmetics Products Market Trends

Rising Beauty Consciousness to Support Market Demand

• Cosmetics and personal care products are becoming immensely important for consumers as they use them to enhance their appearance, which may positively impact their personalities.
• Concerns regarding health and hygiene and maintaining body and well-being are on the rise these days, and thus consumers are making use of beauty products to look attractive, which is supporting the demand for cosmetics products.
• Consumers are increasingly becoming interested in product personalization to satisfy their needs. Thus, manufacturers are focusing on product customization in cosmetic products, attracting consumers towards them, thereby increasing their revenue streams.
• Furthermore, the incorporation of technology in the cosmetic industry is further boosting the market demand. All such factors are bound to support the demand for cosmetics products in Sweden.

Online Stores and Pharmacies Driving the Sales of Cosmetics Products

• Consumers are increasingly making purchases of cosmetics products via online sales channels, and this trend is majorly boomed by the COVID-19 pandemic, which induced consumers to make an online shift out of convenience, at-home delivery of products, and a wider range of products to choose from.
• Pharmacies and drugstores are expanding beyond retailing a range of prescriptions and over-the-counter medications and are offering greater visibility and a wide assortment of consumer products. This includes products such as cosmetics, personal care products, and others.
• More recently, the demand for everyday products, such as personal care products, has witnessed increased revenue sales from pharmacies and drugstores and represents strong growth potential in this market.
• The broad retail network of manufacturers within this industry delivers advanced solutions for customers, thus, supporting the demand for cosmetics products in Sweden.

Sweden Cosmetics Products Market Competitor Analysis

The Sweden cosmetics products market is highly fragmented due to the presence of local and international layers. Key players in the market include L’Oreal S.A, the Estée Lauder Companies Inc., Shiseido Co. Ltd, Kao Corporation, and Oriflame Holding AG, among others. Product innovation remains the most adopted strategy among the players in the country. Market players are focusing on expanding their product portfolio to increase their customer base. They are focusing on acquisitions to consolidate their position in the market.

Additional benefits of purchasing the report:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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