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E-pharmacy Beauty and Personal Care (BPC)
E-Pharmacy Beauty and Personal Care (BPC) market Is Growing With the Increasing Penetration of the Internet
SEATTLE, WA, US, January 5, 2022 /EINPresswire.com / -- E-Pharmacy Beauty and Personal Care (BPC) Market Is Growing With the Increasing Penetration of the Internet , By 2027, the global e-pharmacy beauty and personal care market is expected to reach US$ 20.20 billion, indicating significant growth during the forecast period (2019-2027). According to a report published in December 2018 by Internet World Stats, the global number of internet users reached 4,208 million in June 2018 (with 55.1 percent penetration), up from 3,270 million in 2015 (with 45.0 percent penetration).
Market Overview:
E-pharmacy beauty and personal care (BPC) is an online platform where people can buy beauty products in a few clicks on the phone. E-pharmacy is an online platform where people can buy beauty and personal care products from their homes. Moreover, the popularity of e-pharmacy BPC has increased in the recent past, as it provides full details about the beauty and personal care products that the customer wants to buy. E-pharmacy also gives a discount on the products that attract customers. This in turn has increased the sales of these products. Comparative low prices attract consumers towards e-pharmacy platforms over other e-commerce websites. The main advantage of e-pharmacy beauty and personal care (BPC) is that it enables the consumers to order beauty and personal care products in a hassle-free and convenient fashion, right form their computer or mobile phone.
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Competitive Landscape:
Major players operating in the global e-pharmacy beauty and personal care (BPC) market are Rite Aid Corporation, Cardinal Health, The Medicine Shoppe Pharmacy, Familymeds, Inc., Walgreen Company, CVS Health, Shop Apotheke, Gordons Direct, Pharmacy2u Ltd., and LLOYDS Pharmacy Limited.
Key Market Drivers:
Rising demand for beauty and personal care products due to increasing internet penetration is expected to boost the growth of the e-pharmacy beauty and personal care (BPC) market during the forecast period. For instance, according to the World Bank, in 2019, there were more than 4 billion active internet users worldwide, around 56.72% of the global population. Of which, the majority of them accessed the internet via mobile devices.
Moreover, advent of new e-pharmacy beauty and personal care platforms to meet the increasing demand is also expected to drive the growth of the e-pharmacy beauty and personal care (BPC) market. For instance, in September 2021, Tata planned to launch a new e-commerce platform exclusively to sell beauty and cosmetics products. Tata Digital is diversifying rapidly to capture fast-moving consumer-facing segments within the digital ecosystem.
COVID-19 Impact Analysis:
The beauty and personal care industry is known for its ever-evolving, agile nature. However, due to the outbreak of COVID-19 (pandemic), the industry is experiencing rapid changes in consumer needs, buying patterns, and channel activity. Moreover, the industry has been forced to embrace e-commerce in new and disruptive ways. Beauty and personal care brands have also seen a boost by optimizing e-commerce, they've given customers a more in-depth look at their product portfolio to increase their sales and strengthen their market presence. This in turn is expected to aid in the growth of the market.
Key Takeaways:
✤ The e-pharmacy beauty and personal care (BPC) market is expected to exhibit a CAGR of 11.4 % during the forecast period owing to the increasing consumer spending in healthcare care and personal care products. For instance, according to India Brand Equity Foundation, with increasing disposable incomes, the per capita expenditure on premium personal care and beauty products is expected to show a CAGR of 15% from 2018 to 2023.
✤ Among regions, North America and Asia Pacific are expected to witness robust growth in the e-pharmacy beauty and personal care (BPC) market, owing to the increasing internet penetration, rising demand for beauty and personal care products, and the rapid growth of the e-commerce industry in these regions. For instance, in September 2021, India-based cosmetics company, MyGlamm announced the formation of a new parent entity 'The Good Glamm Group' to create a digital house of brands in the beauty and personal care space. MyGlamm has set aside US$ 100 million to set up a new parent entity to acquire 6 beauty and personal care businesses by March 2022.
✤ The global e-pharmacy beauty and personal care market is estimated to be valued at US$ 20.20 Billion in 2027 and is expected to exhibit a CAGR of 11.4% over the forecast period (2019-2027), as highlighted in a new report published by Coherent Market Insights.
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Finally, there is an industry growth strategy, a data source, research findings, an appendix, and a conclusion in the report. The report examines the manufacturing process, market competitors, seller and merchant classification, innovation implementation, and business growth strategies in order to deconstruct the market. All of these details will assuage customers' concerns about future plans and actions to compete with other market participants. The most recent market gains are also shown.
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➸ Quantitative, qualitative, value (USD Million), and volume (Units Million) data are among the segments and sub-segments included in the report.
➸ Data on demand and supply forces, as well as their effects on the market, can be found at the regional, sub-regional, and country levels.
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