Global Beauty and Personal Care Products Market to Reach US$ 759.3 Billion by 2032, Impelled by Increasing Proliferation of Social Media

October 10, 2023 | Retail

According to the latest report by IMARC Group, titled “Beauty and Personal Care Products Market Report by Type (Conventional, Organic), Product (Skin Care, Hair Care, Color Cosmetics, Fragrances, and Others), Pricing (Mass Products, Premium Products), Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, E-commerce, and Others), End User (Male, Female), and Region 2024-2032,” the global beauty and personal care products market size reached US$ 506.2 Billion in 2023. Beauty and personal care products encompass a wide range of items designed to enhance and maintain an individual's physical appearance, hygiene, and overall well-being. These products include cosmetics, skincare items, haircare products, fragrances, toiletries, and grooming essentials. Cosmetics like foundation, lipstick, and eyeshadow are used for makeup and beautification purposes. Skincare products such as cleansers, moisturizers, and sunscreen help maintain healthy skin. Haircare items comprise shampoos, conditioners, and styling products for hair hygiene and styling. Fragrances, like perfumes and colognes, add a pleasant scent. Toiletries like soap, toothpaste, and deodorant aid in personal hygiene. Grooming essentials such as razors, shaving creams, and skincare tools are utilized for personal grooming. At present, beauty and personal care products are gaining immense traction across the globe as they play a significant role in individuals' self-expression and self-care routines.

Global Beauty and Personal Care Products Market Trends:

The escalating demand for a wide array of beauty and personal care items due to the increasing consumer focus on personal grooming, self-expression, and well-being represents the primary factor driving market growth. As societies become more appearance-conscious, cosmetics, skincare, and hair care products have become integral to daily routines. Moreover, evolving beauty trends, influenced by factors like social media and celebrity endorsements, are positively influencing market growth. Apart from this, the rising awareness of health and sustainability has catalyzed market growth. In addition, an increasing number of consumers are seeking natural and organic beauty products, and companies are responding to this demand by offering eco-friendly and clean-label options, thus propelling market growth. In line with this, the advent of e-commerce and online beauty influencers that revolutionize how products are marketed and sold, providing consumers with convenient access to a vast range of choices, is another major growth-inducing factor. Besides this, the aging population further fuels the demand for anti-aging and skin care products, supporting market growth. Furthermore, the rapid expansion of the male grooming sector as men are increasingly adopting grooming and skincare routines is contributing to market growth. Looking forward, the market value is projected to reach US$ 759.3 Billion by 2032, expanding at a CAGR of 4.5% during 2024-2032.

Market Summary:

Based on the type, the market has been bifurcated into conventional and organic, wherein, conventional represents the leading segment.
On the basis of the product, the market has been segmented into skin care, hair care, color cosmetics, fragrances and others. At present, skincare accounts for the majority of the market share.
The market has been classified based on the pricing into mass and premium products. Currently, mass products exhibit a clear dominance in the market.
Based on the distribution channel, the market has been categorized into supermarkets and hypermarkets, specialty stores, e-commerce and others. Amongst these, supermarkets and hypermarkets hold the largest share in the market.
On the basis of the end user, the market has been segregated into male and female, wherein female dominates the market.
Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa. Amongst these, Asia Pacific holds the leading position in the market.
The competitive landscape of the market has also been examined, with some of the key players being Avon Products (Natura & Co), Beiersdorf AG, Colgate-Palmolive Company, Johnson & Johnson, Kao Corporation, L'Oréal S.A., Mary Kay Inc., Procter & Gamble Company, Revlon, Inc. (MacAndrews & Forbes), Shiseido Company Limited, The Estée Lauder Companies Inc., and Unilever plc.

Report Coverage:

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 Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment: Type Product Pricing Distribution Channel End User Region
Types Covered	Conventional, Organic
Products Covered	Skin Care, Hair Care, Color Cosmetics, Fragrances, Others
Pricing Covered	Mass Products, Premium Products
Distribution Channels Covered	Supermarkets and Hypermarkets, Specialty Stores, E-commerce, Others
End Users Covered	Male, Female
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	Avon Products (Natura & Co), Beiersdorf AG, Colgate-Palmolive Company, Johnson & Johnson, Kao Corporation, L'Oréal S.A., Mary Kay Inc., Procter & Gamble Company, Revlon, Inc. (MacAndrews & Forbes), Shiseido Company Limited, The Estée Lauder Companies Inc., Unilever plc, etc.
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