Cosmetics Market Report by Product Type (Skin and Sun Care Products, Hair Care Products, Deodorants and Fragrances, Makeup and Color Cosmetics, and Others), Category (Conventional, Organic), Gender (Men, Women, Unisex), Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Pharmacies, Online Stores, and Others), and Region 2024-2032

Cosmetics Market Report by Product Type (Skin and Sun Care Products, Hair Care Products, Deodorants and Fragrances, Makeup and Color Cosmetics, and Others), Category (Conventional, Organic), Gender (Men, Women, Unisex), Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Pharmacies, Online Stores, and Others), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A4418
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Global Cosmetics Market:

The global cosmetics market size reached US$ 400.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 618.7 Billion by 2032, exhibiting a growth rate (CAGR) of 4.8% during 2024-2032. The growing emphasis on personal grooming, the introduction of advanced product variants, the escalating demand for vegan cosmetics, and the rising product availability on e-commerce platforms are some of the major factors propelling the market.

Report Attribute
Key Statistics
Base Year
2023 
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023 US$ 400.6 Billion
Market Forecast in 2032 US$ 618.7 Billion
Market Growth Rate 2024-2032 4.8%


Global Cosmetics Market Analysis:

  • Major Market Driver: The rising beauty consciousness among individuals and the growing preference for customized cosmetic products are primarily driving the cosmetics market growth. In addition to this, factors such as urbanization, rising disposable incomes, and the growing influence of social media are also contributing to market growth.
  • Key Market Trend: The introduction of cosmetic products made with natural and organic ingredients is a primary key trend for the market. Continuous product launches are also augmenting the global cosmetics market.
  • Geographical Trend: According to the report, North America holds the largest market for cosmetics products. North America, comprising the United States and Canada, is home to a sizable consumer population. The region has a high level of disposable income, which contributes to increased consumer spending on cosmetic products. The large consumer base provides a substantial market opportunity for cosmetic brands, making North America an attractive region for market penetration and growth.
  • Competitive Landscape: Some of the leading players in the global cosmetic industry include 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, among others.
  • Challenges and Opportunities: The challenges faced in the cosmetics industry include sustainability issues, ever-growing consumer expectations, competition, and technological advances. However, the expansion of online cosmetics retail and the introduction of personalized services in the industry are anticipated to offer lucrative growth opportunities to the overall market in the coming years.
     

Global Cosmetics Market


Global Cosmetics Market Trends:

The growing emphasis on personal grooming

The increasing number of working women and rising consciousness regarding physical appearance among millennial women are the key factors driving the market growth. According to financial comparison service provider Mozo, the average Australian woman spends approximately US$ 3,600 on beauty and personal care products annually. In addition to this, the rising awareness about the harmful effects of chemical compounds such as paraben and aluminum in the products is stimulating the growth of natural and organic facial cosmetic products on the market. Many international brands, like Revlon, Elle18 MAC, Sephora, L'Oreal, and Oriflame, are increasing their presence further by introducing more products in the market, particularly with convenient and attractive packaging types and vegan ingredients, to attract customers across the globe. As personal grooming becomes more important, the demand for cosmetic products across various categories is escalating. Consumers are increasingly seeking products with minimal synthetic chemicals, opting for natural and organic formulations, and various key market players are extensively investing to cater to this demand. For instance, in April 2022, Shiseido revealed a new skincare brand, Ulé. It sources pesticide-free botanicals from local vertical farms. The dissemination of knowledge related to the benefits of natural skincare led consumers to seek eco-friendly, sustainable, natural skincare products that offer greater product ingredient transparency.

The Introduction of Advanced Product Variants

Advanced product variants are designed to target specific skincare concerns, haircare issues, or makeup preferences. Brands are creating formulations that address concerns such as aging, acne, hyperpigmentation, dryness, and sensitivity. For instance, L’Oréal Paris recently launched its Glycolic Bright Day Cream with SPF 17, which aims to reduce dark spots and shield skin from harmful UV rays to unveil bright skin. Moreover, various brands are providing choices in shades, finishes, coverage levels, and even allowing consumers to mix and match products to suit their preferences. For instance, in April 2023, personal care and beauty brand The Body Shop launched its 'activist' product range in the Indian market. The new line strengthens the brand's sustainable commitment in the country with a selection of skin products and color cosmetics. Additionally, the ongoing development of personalized cosmetics to enhance the consumer experience is also propelling the market growth. For instance, the L’Oréal Groupe launched Perso, a 6.5-inch beauty tech device that delivers personalized on-the-spot skincare and cosmetic formulas. It harnesses the power of artificial intelligence and optimizes the level of personalization over time as the system gathers more data about customer’s skin and personal preferences.

The Rising Product Availability on E-Commerce Platforms

E-commerce platforms have eliminated geographical barriers, enabling consumers to access a wide range of cosmetic products regardless of their location. For instance, Rare Beauty by Selena Gomez was launched in June 2023 at Sephora India and is now available nationwide across all 26 Sephora stores and online at Sephora.nnnow.com. Consumers now have access to brands and products that were previously not readily available in their local stores. This has expanded the reach of cosmetic brands, allowing them to connect with a broader consumer base and penetrate new markets. For instance, Nykaa, India’s leading beauty and fashion destination, opened doors to the high-performing range of Natasha Moor Cosmetics. In addition to this, these platforms provide detailed product information, including ingredient lists, usage instructions, and customer reviews, which is anticipated to propel the overall cosmetics market revenue in the coming years.

 

 
 

 

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Cosmetics Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global cosmetics market report, along with forecasts at the global, regional and country levels from 2024-2032. Our report has categorized the market based on product type, category, gender and distribution channel.

Breakup by Product Type:

 

 
 

 

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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

Skin and sun care products represent the leading segment

The report has provided a detailed breakup and analysis of the market based on the product type. This includes skin and sun care products, hair care products, deodorants and fragrances, makeup and color cosmetics, and others. According to the report, skin and sun care products represented the largest segment.

Consumers are becoming more aware of the importance of proper skincare routines, including protection from the harmful effects of the sun. Moreover, various leading brands are increasingly investing in research to develop and introduce advanced sun skin care protection products. For instance, Clarins‘a France-based beauty brand, launched the UV Plus Multi-Protection Moisturizing Screen SPF 50 that protects against five pollutants encountered in everyday life (atmospheric, blue light, pollen, photopollution, and indoor pollution). Similarly, Derma Co, a pioneer in dermatologist-backed skincare solutions, introduced its latest breakthrough – the Ultra-Light Zinc Mineral Sunscreen, in India. Besides this, the growing popularity of destination travel, and beach vacations is significantly contributing to the cosmetics market demand in skin care.

Breakup by Category:

  • Conventional
  • Organic
     

Conventional products hold the largest share in the market

A detailed breakup and analysis of the market based on the category has also been provided in the report. This includes conventional and organic. According to the report, conventional products accounted for the largest cosmetic market share.

Conventional cosmetic products have been in the market for a longer period and have a well-established consumer base. These products have been used by consumers for years and have built trust and familiarity among a large portion of the population. Many consumers prefer to stick to familiar products that they have been using and trust for their beauty routines. Moreover, these products are widely available and easily accessible.

Breakup by Gender:

  • Men
  • Women
  • Unisex
     

Women dominates the market

A detailed breakup and analysis of the market based on the gender has also been provided in the report. This includes men, women, and unisex. According to the report, women accounted for the largest market share.

The cosmetic market offers a vast array of products specifically targeted towards women, ranging from skincare and makeup to haircare and fragrances. Moreover, the rising working-women population across the globe is significantly contributing to the growth in this segment. Among men and women, the women segment contributed to a larger market share of over 62.05% in 2022. Additionally, media, including advertising, plays a crucial role in shaping consumer behavior and preferences. Various leading brands are also targeting women in light to deep skin tones to promote inclusivity and expand their product portfolio. For instance, Lakme Cosmetics launched new lipstick shades suitable for Indian skin tones. The products include Lakme Absolute Matte Revolution Lip Color in blushing red, cheek color-nude, and MP18 Plum Pick. Women are often the primary target audience for cosmetic advertisements, featuring models and celebrities endorsing various products.

Breakup by Distribution Channel:

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

Cosmetic products are widely distributed through supermarkets and hypermarkets

A detailed breakup and analysis of the market based on the distribution channel has also been provided in the report. This includes supermarkets and hypermarkets, specialty stores, pharmacies, online stores, and others. According to the report, supermarkets and hypermarkets accounted for the largest market share.

Supermarkets and hypermarkets offer consumers the convenience of finding a wide range of products in one location. A number of British supermarkets have been elevating their beauty offer in recent years, helping to transform them into more credible beauty retail destinations for consumers. For instance, Sainsbury has introduced a number of activations to improve its beauty offer in recent years, including the launch of new serum bars across 106 stores this summer. Moreover, supermarkets and hypermarkets are also offering competitive pricing for cosmetic products due to their ability to negotiate bulk purchasing and pass on cost savings to consumers.

Breakup by Region:

 

 
 

 

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  • 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
     

North America exhibits a clear dominance in the market

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for cosmetics products.

North America, comprising the United States and Canada, is home to a sizable consumer population. The region has a high level of disposable income, which contributes to increased consumer spending on cosmetic products. The beauty & personal care market in North America is projected to generate a revenue of US$ 118.50 Billion in 2024. When compared globally, the United States stands out as the highest revenue-generating country. Moreover, various leading beauty brands are increasingly investing in marketing and advertising to create product awareness across the region. For instance, in 2022 L'Oreal invested US$ 3.04 Billion in advertising in the United States. The large consumer base provides a substantial market opportunity for cosmetic brands, making North America an attractive region for market penetration and growth. 

Competitive Landscape:

The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

  • 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
  • Unilever plc
     

Global Cosmetics Market News:

  • March 2024: L’Oréal Groupe announced the launch of MelasylTM, a breakthrough molecule designed to address localized pigmentation issues that lead to age spots and post-acne marks.
  • November 2023: Revlon, the beauty and cosmetics brand operating in India through its local partner, Modi-Mundipharma Beauty Products, is doubling its business to INR 400 crore in the current fiscal year. With plans to enhance its offline network, the company aims to increase the number of outlets from 300 to 600 and expand its presence from 1,000 to 4,000 department stores.
  • May 2022: Estée Lauder with Shoppers Stop opened an exclusive SS Beauty store in Mumbai. With this establishment, the two companies have strengthened their partnership in India. The SS beauty store offers only Estée Lauder brands like MAC Cosmetics, Clinique, Bobbi Brown, Jo Malone, Estee Lauder, Smashbox, and Tom Ford.


Cosmetics Market Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Scope of the Report Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
  • Product Type
  • Category
  • Gender
  • Distribution Channel
  • Region
Product Types Covered Skin and Sun Care Products, Hair Care Products, Deodorants and Fragrances, Makeup and Color Cosmetics, Others
Categories Covered Conventional, Organic
Genders Covered Men, Women, Unisex
Distribution Channels Covered Supermarkets and Hypermarkets, Specialty Stores, Pharmacies, Online Stores, Others
Regions Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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., Unilever plc etc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


Key Benefits for Stakeholders:

  • IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the cosmetics market from 2018-2032.
  • The research study provides the latest information on the market drivers, challenges, and opportunities in the global cosmetics market.
  • The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
  • Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the cosmetics industry and its attractiveness.
  • Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

Key Questions Answered in This Report

The global cosmetics market was valued at US$ 400.6 Billion in 2023.

We expect the global cosmetics market to exhibit a CAGR of 4.8% during 2024-2032.

The rising beauty consciousness among consumers, and the growing popularity of organic and naturally sourced product variants are primary cosmetics market opportunities for the market players.

The sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from conventional brick-and-mortar distribution channels towards online retail platforms for the purchase of cosmetics.

Based on the product type, the global cosmetics market can be categorized into skin and sun care products, hair care products, deodorants and fragrances, makeup and color cosmetics, and others. According to the cosmetics market statistics, skin and sun care products currently hold the majority of the total market share.

Based on the category, the global cosmetics market has been divided into conventional and organic. Conventional currently accounts for the largest market share.

Based on the gender, the global cosmetics market has been divided into men, women, and unisex. Currently, women exhibit a clear dominance in the market.

Based on the distribution channel, the global cosmetics market is bifurcated into supermarkets and hypermarkets, specialty stores, pharmacies, online stores, and others. Among these, supermarkets and hypermarkets currently account for the largest market share.

Based on the region the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global cosmetics market include 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.

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Cosmetics Market Report by Product Type (Skin and Sun Care Products, Hair Care Products, Deodorants and Fragrances, Makeup and Color Cosmetics, and Others), Category (Conventional, Organic), Gender (Men, Women, Unisex), Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Pharmacies, Online Stores, and Others), and Region 2024-2032
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