In 2021, the global cosmetics market size valued at USD 265.42 billion. The market is estimated to grow at a 5.4% (CAGR) compound annual growth rate between 2023-2032.
Companies have the potential to develop and innovate new products based on customer needs due to the growing demand for organic and natural cosmetic products. Global Cosmetics market segments are based on category, distribution channel, and geography. This category includes skin & sun care products, hair care products, and deodorants. It also includes makeup & color cosmetics and fragrances. These products are the most popular and hold a large share of the total cosmetics market.
Cosmetics Market: Drivers and Restraints
The rising awareness of health and increasing desire to maintain a youthful look are the main drivers of the global cosmetics market. Cosmetics have also been able to thrive due to the growing aging population of baby boomers in the West. They are trying to keep their skin looking young rather than succumb to the signs of aging. The major segment of the global cosmetics industry is anti-wrinkle.
The growing awareness of the harmful effects of pollution on skin and hair is driving the global cosmetics market. Rapid urbanization and industrialization have caused pollution to spiral out of control in many emerging areas. Cities like New Delhi, Mumbai, and Beijing regularly make it to the top ten most polluted city lists. Poor skin health can be caused by air pollution. Protective cosmetic products are in high demand because of the negative effects of pollution.
The major market constraint for global cosmetics is the potential side effects of cosmetics on human health. Companies in the global cosmetics industry are adding organic and natural products to their product portfolios to counter this. In the next few years, natural cosmetics will not be considered a competitor to conventional cosmetics. Instead, natural cosmetics will become a viable and highly profitable strategy for cosmetics industry professionals.
E-commerce is a positive factor in the growth of the global cosmetics industry. The internet has enabled manufacturers to set up a sales network in emerging regions without having a manufacturing plant. This has helped boost the global market.
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Recent development:
March 2022: MADARA Cosmetics, a Marupe-based company, will launch a new startup called Selfnamed. To launch the project in print-on-demand, the brand raised 350K euros. This allows companies to expand their business in natural and organic cosmetics.
Market Key Trends:
The E-commerce industry is growing, and manufacturers are focusing on improving their marketing activities.
Different market players are launching digital marketing strategies. They prepare interactive ads and make substantial efforts to promote their products via social media. This is likely to increase product demand. Consumers are increasingly turning to e-commerce for purchases due to the rising popularity of social media and increased internet penetration.
Scope of the Report
Attribute | Details |
Market Size in 2020 | USD 265.42 billion |
Growth Rate | 5.4% |
Historical Years | 2016-2020 |
Base Year | 2021 |
Quantitative Units | USD In Bn |
No. of Pages in Report | 200+ Pages |
No. of Tables & Figures | 150+ |
Format | PDF/Excel |
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Key Companies:
- Coty Inc.
- L’Oréal S.A.
- estée lauder inc
- Estée Lauder Companies Inc.
- Unilever PLC
- Revlon Inc.
- Avon Products Inc.
- Procter & Gamble
- kao corporation
- Henkel AG & Co.
- Other Key company
By Product
- Fragrance
- Skin Care
- Makeup
- Hair Care
- Other Products
By End-Use
- Women
- Men
By Distribution Channel
- Online
- Offline
Industry, By Region
- Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
- Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
- North America [United States, Canada, Mexico]
- Middle East & Africa [GCC, North Africa, South Africa]
- South America [Brazil, Argentina, Columbia, Chile, Peru]
Key questions:
- What is the CAGR for the cosmetics market?
- What are the major players in the cosmetics industry?
- What is the growth rate for the Asia-Pacific cosmetics industry?
- What product segment is it?
- What are the major regional markets?
- What is the market value for cosmetics?
- Which segment will hold the largest market share in cosmetics?
- What are the main driving forces and challenges of the industry?
- Which region holds the largest share of the Global Cosmetics Market?
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