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
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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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)
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Countries Covered
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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
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Market Players Covered
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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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Market Opportunities
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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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