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Global Cosmetics Market – Industry Trends and Forecast to 2031

  • FMCG
  • Upcoming Report
  • Feb 2024
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Cosmetics Market – Industry Trends and Forecast to 2031

Market Size in USD Billion

CAGR - % Diagram

Diagram Forecast Period 2022–2030
Diagram Market Size (Base Year) USD 254227.06 Million
Diagram Market Size (Forecast Year) USD 399123.33 Million
Diagram CAGR %

Global Cosmetics Market, By Type Product Type (Skin Care, Hair Care, Make Up, Deodorants and Fragrances, and Others), Nature (Inorganic and Organic), Form (Creams and Gels, Lotions, Sprays, Solid, and Others), Category (Mass Product, Premium Product,and Professional Product), Packaging Type (Bottles And Jars, Tubes, Containers, Pumps and  Dispensers, Sticks, Aerosol Cans, Pouches, Blisters And Strip Packs, and Others), Distribution Channel (Offline and Online), End-User (Women, Men, Unisex,  and Kids) – Industry Trends and Forecast to 2031.

Cosmetics Market Analysis and Size

The cosmetics market is segmented into mass, premium, and professional product categories. Mass products cater to the general consumer with affordable options. Premium products target a more discerning clientele, offering higher quality and luxury. Professional products, primarily used by makeup artists and salons, emphasize performance and are often available through specialized channels.

Data Bridge Market Research analyses that the global cosmetics market was valued at USD 2,68,972.23 million in 2023 and is expected to reach 4,22,272.49 million by 2031, registering a CAGR of 5.80% during the forecast period of 2024-2031. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behaviour.

Cosmetics Market Scope and Segmentation

Report Metric

Details

Forecast Period

2024 to 2031

Base Year

2023

Historic Years

2022 (Customizable to 2016-2021)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

Product Type (Skin Care, Hair Care, Make Up, Deodorants and Fragrances, and Others), Nature (Inorganic and Organic), Form (Creams and Gels, Lotions, Sprays, Solid, and Others), Category (Mass Product, Premium Product,and Professional Product), Packaging Type (Bottles And Jars, Tubes, Containers, Pumps and  Dispensers, Sticks, Aerosol Cans, Pouches, Blisters And Strip Packs, and Others), Distribution Channel (Offline and Online), End-User (Women, Men, Unisex,  and Kids)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

Market Players Covered

Procter & Gamble (U.S.), L'Oréal Paris (France), Estée Lauder (U.S.), Coty Inc. (U.S.), Shiseido Company, Limited (Japan), Colgate-Palmolive Company (U.S.), Kao Corporation (Japan), Unilever (U.K.), AMOREPACIFIC US, INC. (South Korea), Johnson & Johnson Services, Inc. (U.S.), Revlon (U.S.), LMVH (France), Oriflame Cosmetics Global SA (Switzerland), Henkel AG & Co. KGaA (Germany), Mary Kay (U.S.), Natura&Co (Brazil), CHANEL (France), KOSÉCorporation(Japan)

Market Opportunities

  • Customization and Personalization Engage Consumers
  • Growing Demand for Sustainable and Eco-Friendly Beauty Products

Market Definition

Cosmetics refer to substances or products applied to the human body for the purpose of enhancing, beautifying, or altering appearance. Comprising a diverse range of items, cosmetics include skincare, makeup, hair care, and fragrance products. They are designed to cleanse, protect, and aesthetically enhance various features, contributing to personal grooming and self-expression.

Global Cosmetics Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

  • Social Media Influence in Promoting Beauty Standards and Trends

Social media wields substantial influence on the cosmetics market by shaping beauty ideals and driving trends. Platforms highlight diverse beauty standards, while influencers and beauty bloggers, with large followings, significantly impact consumer preferences. Their endorsements create a direct link between trends and product demand, fostering a dynamic market where online presence and recommendations play a pivotal role in shaping the beauty industry landscape.

  • Demographic Shifts Demand for Anti-Aging and Skincare Products

Aging populations fuel a growing demand for anti-aging and skincare products, addressing specific concerns. Meanwhile, Millennials and Gen Z, prioritizing self-expression and experimentation, redefine beauty norms. Their preferences drive innovation, pushing the industry towards inclusive, diverse offerings, and fostering a dynamic market that caters to the evolving needs and desires of different age groups.

Opportunities

  • Customization and Personalization Engage Consumers

The customization and personalization trend in the cosmetics market presents a unique opportunity for brands to engage consumers by tailoring products to individual preferences. By leveraging technology, brands can offer personalized skincare routines, makeup shades, and formulations. This not only enhances the consumer experience but also fosters brand loyalty. The ability to cater to diverse needs and preferences allows companies to differentiate themselves in a competitive market and meet the growing demand for bespoke beauty solutions.

  • Growing Demand for Sustainable and Eco-Friendly Beauty Products

The cosmetics industry sees a rising demand for sustainable and eco-friendly beauty products, offering a significant opportunity for environmentally conscious brands. Consumers increasingly seek products aligned with ethical and eco-friendly values, creating a market niche for companies that prioritize sustainability. Brands can capitalize on this trend by innovating with eco-friendly packaging, ethically sourced ingredients, and environmentally responsible practices to meet the growing demand for sustainable beauty options.

Restraints/Challenges

  • Price Sensitivity Among Consumers in Economic Downturns

In times of financial uncertainty, consumers prioritize essential needs over non-essential items such as cosmetics. This increased sensitivity to spending results in reduced purchases of beauty products, directly influencing the growth rate of the market. Cosmetic companies encounter challenges as they experience a decline in demand, contributing to a slower expansion of the market. Thus, consumer price sensitivity, serves as a significant restraint in the cosmetics market.

  • Regulatory Compliance for Ingredient Safety and Testing

The rigorous standards demand thorough testing and adherence to safety protocols, leading to prolonged product development timelines and increased costs. This challenge affects the market growth rate by limiting the speed at which new products can be introduced. Additionally, compliance hurdles may result in delayed marketing efforts, hindering the industry's ability to swiftly respond to evolving consumer preferences and trends, thereby impeding overall market expansion.

This global cosmetics market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global cosmetics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Developments

  • In June 2023, Vellvette Lifestyle Private Limited, operating as Sugar Cosmetics, marked its expansion by inaugurating its inaugural offline stores in Bengaluru. The physical store, situated in Orion Mall, spans 400 square feet, signaling the brand's strategic move to establish a presence in the offline retail landscape and engage with customers in a brick-and-mortar setting
  • In January 2023, Maybelline New York introduced the Fit Me Fresh Tint foundation, a versatile 2-in-1 product designed for everyday wear. Promoted as both makeup and skincare, the foundation features enriching elements such as pigments, vitamin C, and SPF 50, aligning with consumer preferences for multifunctional and protective beauty solutions
  • In June 2022, L'Oreal reintroduced the luxury beauty brand Lancôme in India, responding to the notable surge in demand for high-end and luxury personal care and beauty products in the country. The relaunch aligns with the growing market trend, aiming to capitalize on the increasing consumer preference for premium beauty offerings in India's beauty and personal care segments
  • In November 2021, The Estée Lauder Companies Inc. and Florida A&M University unveiled a collaborative talent and development program focused on fostering the next generation of black beauty professionals in travel retail. Aligned with their commitment to racial equity, this initiative involved an exclusive internship and scholarship program, showcasing a dedication to diversity and inclusion within the beauty industry
  • In September 2021, Coty Inc. revealed a partnership with Perfect Corp. to incorporate a range of AI and AR technologies into the digital marketing toolkits of its cosmetics brands. This collaboration aims to enhance the consumer experience, leveraging advanced technologies for virtual try-on experiences and innovative marketing strategies within Coty's cosmetic product lines

Global Cosmetics Market Scope

The global cosmetics market is segmented on the basis of product type, nature, form, category, packaging type, distribution channel, and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

  • Skin Care
  • Masks
  • Moisturizers
  • Body Lotions
  • Toner
  • Cleansing Cream
  • Facial Remover
  • Sunscreens
  • Body Wash
  • Night Serum
  • Day Cream
  • Hand and Foot Creams
  • Others
  • Hair Care
  • Shampoo
  • Conditioners
  • Hair Color
  • Type
  • Hair Dyes And Colors
  • Hair Bleaches
  • Hair Tints
  • Others
  • Hair Type
  • Normal
  • Oily
  • Dry
  • Serums
  • Oil
  • Sprays
  • Others
  • Make Up
  • Lipstick
  • Eye Shadows
  • Mascara
  • Foundation
  • Bronzer
  • Blush
  • Others
  • Deodorants and Fragrances
  • Others

Nature

  • Inorganic
  • Organic

Form

  • Creams and Gels
  • Lotions
  • Sprays
  • Solid
  • Others

Category

  • Mass Product
  • Premium Product
  • Professional Product

Packaging Type

  • Bottles And Jars
  • Tubes
  • Containers
  • Pumps and  Dispensers
  • Sticks
  • Aerosol Cans
  • Pouches
  • Blisters And Strip Packs
  • Others

Distribution Channel

  • Offline
  • Specialty Stores
  • Supermarkets/Hypermarkets
  • Pharmacies
  • Salons
  • Others
  • Online

End-User

  • Women
  • Men
  • Unisex
  • Kids

Global Cosmetics Market Regional Analysis/Insights

The global cosmetics market is analyzed and market size insights and trends are provided by product type, nature, form, category, packaging type, distribution channel, and end-user as referenced above.

The countries covered in the global cosmetics market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

In Europe, Germany dominates the cosmetics sector, driven by heightened consumer interest in organic products. The market responds to the demand for natural and sustainable beauty solutions, reflecting a trend towards eco-conscious choices in the German consumer landscape.

In North America, The U.S. holds the second-largest share in the cosmetics market, primarily due to the presence of numerous dominant players in the region.

The Asia-Pacific region is expected to dominate the cosmetics market, driven by its diverse and dynamic market landscape. Countries such as China, India, Japan, and South Korea contribute significantly to the robust demand, attributed to a large consumer base and the presence of key market players. China, in particular, dominates with high demand for skincare products, including face masks and anti-wrinkle cream.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Global Cosmetics Market Share Analysis

The global cosmetics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global cosmetics market.

Some of the major players operating in the global cosmetics market are:

  • Procter & Gamble (U.S.)
  • L'Oréal Paris (France)
  • Estée Lauder (U.S.)
  • Coty Inc. (U.S.)
  • Shiseido Company, Limited (Japan)
  • Colgate-Palmolive Company (U.S.)
  • Kao Corporation (Japan)
  • Unilever (U.K.)
  • AMOREPACIFIC US, INC. (South Korea)
  • Johnson & Johnson Services, Inc. (U.S.)
  • Revlon (U.S.)
  • LMVH (France)
  • Oriflame Cosmetics Global SA (Switzerland)
  • Henkel AG & Co. KGaA (Germany)
  • Mary Kay (U.S.)
  • Natura&Co (Brazil)
  • CHANEL (France)
  • KOSÉCorporation(Japan)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

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FREQUENTLY ASK QUESTIONS

The cosmetics market size will be worth USD 4,22,272.49 million by 2031.
The growth rate of the cosmetics market is 5.80% in the forecast period by 2031.
The Social media influence in promoting beauty standards and trends & demographic shifts demand for anti-aging and skincare products are the growth drivers of the cosmetics market.
The Product type, nature, form, category, packaging type, and distribution channel are the factors on which the cosmetics market research is based.
The Major companies in the cosmetics market are Procter & Gamble (U.S.), L'Oréal Paris (France), Estée Lauder (U.S.), Coty Inc. (U.S.), Shiseido Company, Limited (Japan), Colgate-Palmolive Company (U.S.), Kao Corporation (Japan), Unilever (U.K.), AMOREPACIFIC US, INC. (South Korea), Johnson & Johnson Services, Inc. (U.S.), Revlon (U.S.), LMVH (France), Oriflame Cosmetics Global SA (Switzerland), Henkel AG & Co. KGaA (Germany), Mary Kay (U.S.), Natura&Co (Brazil), CHANEL (France), KOSÉCorporation(Japan).
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