Market Overview:

The global cosmetics market size reached US$ 379.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 523.5 Billion by 2028, exhibiting a growth rate (CAGR) of 4.9% during 2023-2028.

Cosmetics are beauty preparations made using a mixture of synthetic chemical compounds for cleansing, beautifying, and promoting the overall health of the skin. It includes soaps, perfumes, lipsticks, shampoos, deodorants, toothpaste, hair colors, skin moisturizers, shaving creams, and nail polishes. It also comprises functional cosmetics that focus on resolving a particular skin concern like skin whitening, minimizing the appearance of fine lines and wrinkles, and offering protection against ultraviolet (UV) rays. Presently, the growing prevalence of skin-related complications is influencing the demand for cosmetics worldwide.

Global Cosmetics Market Trends:

Rising beauty consciousness among individuals, in confluence with the growing preference for customized cosmetic products, represents one of the significant factors bolstering the market growth. Moreover, due to the growing influence of social media, rapid urbanization and increasing per capita income, individuals are willing to spend on new, unique, and premium products. This, along with the burgeoning e-commerce sector, is providing lucrative opportunities to manufacturers for expanding their product portfolio and consumer base. Apart from this, a significant increase in the geriatric population and a rising focus on maintaining a youthful appearance is also contributing to market growth. Furthermore, the increasing adoption of the vegan lifestyle and the growing health concerns about the negative impact of petroleum-based ingredients are driving the demand for vegan cosmetics. Vegan cosmetics are organic beauty products made using plant-based extracts and environmental-friendly derivatives. In confluence with this, several brands are collaborating with dermatologists for optimal cosmetics products, which is anticipated to fuel the growth of the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global cosmetics market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type, category, gender and distribution channel.

Breakup by Product Type:

• Skin and Sun Care Products
• Hair Care Products
• Deodorants and Fragrances
• Makeup and Color Cosmetics
• Others
   

Breakup by Category:

• Conventional
• Organic
   

Breakup by Gender:

• Men
• Women
• Unisex
   

Breakup by Distribution Channel:

• Supermarkets and Hypermarkets
• Specialty Stores
• Pharmacies
• Online Stores
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Amway Corp, Avon Products Inc., Beiersdorf AG, Henkel AG & Co. KGaA, Kao Corporation, L'Oréal S.A., Oriflame Cosmetics AG, Procter & Gamble Company, Revlon Inc. (MacAndrews & Forbes Incorporated), Shiseido Company Limited, Skinfood Co. Ltd., The Estée Lauder Companies Inc., and Unilever plc.

Report Coverage: