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Luxury Cosmetics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Report Format: PDF+Excel | Report ID: SR112023A5547
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Market Overview:
The global luxury cosmetics market size reached US$ 50.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 67.6 Billion by 2028, exhibiting a growth rate (CAGR) of 4.9% during 2023-2028.
Luxury cosmetics are manufactured using premium ingredients and they are widely available in sophisticated packaging. They comprise skincare, haircare, makeup products and fragrances that are sold at a higher price as compared to the drugstore cosmetics. They offer high-end quality, consistency and longevity, which have a noticeable effect on the skin. Some of the variants can effectively clean the top layer of the skin without causing damage and aid in preventing negative environmental impact.
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Luxury Cosmetics Market Trends:
Due to a rise in the disposable income levels of individuals, especially in developing regions, there is an increase in the demand for luxury cosmetics. This, along with the growing awareness about the benefits of using luxury cosmetics, represents one of the key factors driving the market. Additionally, there is a rise in the penetration of the internet, which has resulted in the expansion of the e-commerce industry across the globe. This, coupled with the wide availability of luxury cosmetics through online and offline distribution channels, is propelling the growth of the market. Moreover, the escalating demand for halal cosmetics among consumers due to the presence of powerful actives and proven vegan ingredients is positively influencing the market. Besides this, the rising utilization of luxury cosmetics to solve hair and skin related problems, such as hair fall, dandruff, skin rashes, and acne, is offering lucrative growth opportunities to industry investors. Apart from this, key market players are extensively investing in research and development (R&D) activities to introduce anti-aging cosmetics, fragrances, and oral care products, which is catalyzing the demand for luxury cosmetics. Furthermore, the escalating demand for high-performing color cosmetic products among fashion professionals is bolstering the growth of the market.
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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Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global luxury 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, type, distribution channel and end user.
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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- Skincare
- Haircare
- Makeup
- Fragrances
Breakup by Type:
- Organic
- Conventional
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Specialty and Monobrand Stores
- Online Stores
- Others
Breakup by End User:
- Male
- Female
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
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Avon Products Inc. (Natura & Co.), Coty Inc., Estée Lauder Companies Inc., Kao Corporation, Kosé Corporation, L'Oréal S.A., LVMH Moët Hennessy Louis Vuitton, Oriflame Cosmetics AG, Puig, Revlon Inc., Shiseido Company Limited and Tatcha LLC.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2022 |
| Historical Period | 2017-2022 |
| Forecast Period | 2023-2028 |
| Units | US$ Billion |
| Segment Coverage | Product Type, Type, Distribution Channel, End User, Region |
| Region 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 Inc. (Natura & Co.), Coty Inc., Estée Lauder Companies Inc., Kao Corporation, Kosé Corporation, L'Oréal S.A., LVMH Moët Hennessy Louis Vuitton, Oriflame Cosmetics AG, Puig, Revlon Inc., Shiseido Company Limited and Tatcha LLC. |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| 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) |
Luxury cosmetics are beauty products that are made up of premium ingredients, offering advanced benefits and are available in elegant packagings. Some of the luxury cosmetic brands available globally comprise of Chanel, Tom Ford, and Hermès, amongst others.
As per the IMARC Group, the luxury beauty market size was around US$ 50.1 Billion in 2022. A significant rise in consumer disposable income levels, along with the growing consciousness towards physical appearance, is primarily driving the demand for luxury beauty products. Moreover, the increasing popularity of high-end and premium-quality color cosmetic items, such as lipsticks, eye shadow, blush, contour powder, etc., is also positively influencing the market growth. Additionally, the easy availability of luxury beauty products across several e-commerce platforms supported by discounted prices, door-step delivery, early-bird offers, subscription benefits, etc., is further augmenting the global market. Besides this, the escalating influence of social media trends, along with the growing number of celebrity endorsements promoting the use of luxury cosmetics, is significantly impacting the market growth.
We expect the global luxury cosmetics market to exhibit a CAGR of 4.9% during 2023-2028.
The global luxury cosmetics industry is dominated by several firms such as the Estee Lauder Companies Inc., Chanel, Christian Dior, Shiseido Company Ltd., amongst others.
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 luxury cosmetics.
The increasing consumer consciousness towards physical appearances, coupled with the rising preferences for cosmetic products with high-end quality, consistency, and longevity, that provide a noticeable effect on the skin without causing any damage, are primarily driving the global luxury cosmetics market.
Based on the product type, the global luxury cosmetics market has been segmented into skincare, haircare, makeup, and fragrances. Currently, skincare holds the majority of the total market share.
Based on the type, the global luxury cosmetics market can be divided into organic and conventional, where conventional currently exhibits a clear dominance in the market.
Based on the distribution channel, the global luxury cosmetics market has been categorized into supermarkets and hypermarkets, specialty and monobrand stores, online stores, and others. Among these, specialty and monobrand stores account for the largest market share.
Based on the end user, the global luxury cosmetics market can be bifurcated into male and female. Currently, female exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Europe currently dominates the global market.
Some of the major players in the global luxury cosmetics market include Avon Products Inc. (Natura & Co.), Coty Inc., Estée Lauder Companies Inc., Kao Corporation, Kosé Corporation, L'Oréal S.A., LVMH Moët Hennessy Louis Vuitton, Oriflame Cosmetics AG, Puig, Revlon Inc., Shiseido Company Limited, and Tatcha LLC.
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