The Black Beauty Market Size is valued at USD 8.24 billion in 2023 and is predicted to reach USD 21.71 billion by the year 2031 at a 13.1% CAGR during the forecast period for 2024-2031.
Black beauty encompasses a wide range of products & services that are specifically modified to cater to the needs and preferences of Black consumers. There are various strategies available in the market that aim to promote and enhance Black beauty. These strategies include healthcare items designed to address specific issues, such as colouring, as well as styling products suitable for various hair types and styles. An increasing number of individuals are developing an awareness of beauty as a result of the endeavours of social media influencers and celebrities.
Additional factors contributing to the popularity of black beauty include appealing packaging, skin-beneficial ingredients, and successful social media marketing initiatives. The necessity of internal health was highlighted by the growing consumer knowledge of the relevance of functional ingredients in skincare, hair, and health, which boosted the market. There was also an increase in demand for black beauty as a defence against air pollution and wrinkles.
However, the market growth is hampered by the problems with the logistics system criteria for the safety and health of black beauty and the lack of fog prevention capabilities of the product in areas with significant temperature swings or high black beauty. Delays in the supply network can affect the manufacturing, distribution, and accessibility of Black beauty items, resulting in a decline in client satisfaction and fluctuation in markets. These interruptions can include unavailability of vital components or containers, difficulties in logistics, and political disturbances. The COVID-19 pandemic affected the global market and resulted in the closure of multiple facilities to prevent virus transmission to their employees. As a result, the industry's growth may be impeded.
Competitive Landscape
Some Major Key Players In The Black Beauty Market:
- SheaMoisture
- Carol's Daughter
- The Mane Choice
- Black Opal Beauty
- Fenty Beauty by Rihanna
- IMAN Cosmetics
- Juvia's Place
- Briogeo Hair Care
- Aunt Jackie's Curls & Coils
- Urban Hydration
- Camille Rose Naturals
- Taliah Waajid Natural Hair Care
- Beauty Bakerie
- Pattern Beauty by Tracee Ellis Ross
- Other Market Players
Market Segmentation:
The black beauty market is segmented based on cosmetics, facial skincare, fragrance, hair care, and HBL. Based on cosmetics, the market is segmented into face cosmetics, eye cosmetics, lip cosmetics, and others. By facial skin care, the market is segmented into facial moisturizer, facial treatment, eye skin care, and others. By fragrance, the market is segmented into cologne & perfume, body spray, gift sets, and others. By hair care, the market is segmented into hair accessories, conditioners, styling products, and others. By HBL, the market is segmented into body lotion, eczema & psoriasis, and others.
Based On the Fragrance, The Body Spray Segment Is Accounted as A Major Contributor to the Black Beauty Market
The body spray black beauty market is divined to lead with a major market share in 2023. Body sprays are a practical and cost-effective solution. Referring to the younger and energetic lives of the Black community, developments involve the adoption of energizing and invigorating fragrances with fruity or flowery overtones. Moreover, businesses are emphasizing innovative packaging and durable formulas to improve customer experience.
In The Region, The North American Black Beauty Market Holds A Significant Revenue Share.
The North American black beauty market is expected to report the largest market revenue share in the near future. This can be attributed to a number of elements, such as the development of the area, the fast growth of the middle class, and the rising importance of personal hygiene and style. Demand for cosmetic items has surged as a result of the population in the region being more prepared to spend money on beauty skin, hairdressing, and perfumes since fixed expenditures in this nation keep rising. In addition, Asia Pacific is likely to grow rapidly in the global black beauty market due to a number of reasons, including fast urbanization, busy lifestyles, and rising disposable income.
Recent Developments:
- In June 2024, Proctor & Gamble and IMAN Cosmetics, Beauty Care, and Aromas established their strategic cooperation. The prestigious brand defied tradition again within the terms of the license and marketing deal, and it is currently offered at major retailers like Amazon, Walmart, Target, Walgreens, and Drugstore Reader.
- In March 2024, Urban Hydration's organic, potent, and reasonably priced beauty and haircare offerings are redefining the industry. These items are currently conveniently available at Amazon, allowing you to update your cosmetic routine. These products are a must-try as they guarantee amazing outcomes.
Black Beauty Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 8.24 Bn |
|
Revenue Forecast In 2031 |
USD 21.71 Bn |
|
Growth Rate CAGR |
CAGR of 13.1% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Cosmetics, Facial Skincare, Fragrance, Hair Care, And HBL |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
|
Competitive Landscape |
SheaMoisture, Carol's Daughter, The Mane Choice, Black Opal Beauty, Fenty Beauty by Rihanna, IMAN Cosmetics, Juvia's Place, Briogeo Hair Care, Aunt Jackie's Curls & Coils, Urban Hydration, Camille Rose Naturals, Taliah Waajid Natural Hair Care, Beauty Bakerie, Pattern Beauty by Tracee Ellis Ross, Other Market Players |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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