Global Cosmetics Market Size, Share, and COVID-19 Impact Analysis, By Category (Skin & Sun Care Products, Hair Care, Eye Cosmetics, Deodorants & Fragrances, Others), By Gender (Women, Men), By Distribution Channel (Online, Offline), & By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis & Forecast 2023 – 2033.

Industry: Consumer Goods

RELEASE DATE Feb 2024
REPORT ID SI3684
PAGES 200
REPORT FORMAT PathSoft

Global Cosmetics Market Insights Forecasts to 2033.

  • The Global Cosmetics Market Size was Valued at USD 426.4 Billion in 2023.
  • The Market Size is Growing at a CAGR of 6.88% from 2023 to 2033.
  • The Worldwide Cosmetics Market Size is Expected to Reach USD 829.2 Billion by 2033.
  • North America is expected to grow the fastest during the forecast period.

Global Cosmetics Market

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The Global Cosmetics Market Size is Anticipated to Exceed 829.2 Billion by 2033, Growing at a CAGR of 6.88% from 2023 to 2033.

 

Market Overview

Cosmetics are a mixture of chemical compounds derived from natural or synthetic sources that are used for cleansing and beautification purposes. The global cosmetics market consists of various skin care products that are majorly used for personal care, enhancing one’s appearance, and grooming. It includes a wide range of products such as lipsticks, perfumes, nail polishes, shampoos, hair colors, facial makeup powders, and deodorants. These types of products are found in the form of serums, powders, creams, lotions, gels, sprays, and others. Usually, it is used to better smell, moisturize the skin, and also to protect the skin from the sun. Geographical restrictions are no longer a barrier because of e-commerce platforms, which allow customers to purchase a variety of cosmetics from any area. Nowadays, brands and products that cannot be easily found in nearby stores are accessible to consumers. Cosmetic brands can now reach a wider audience and enter new markets to this expansion of their reach. These platforms also offer comprehensive product information, such as component lists, usage guidelines, and user reviews. Customers make educated judgments by having access to thorough product descriptions.

 

Report Coverage

This research report categorizes the market for the global cosmetics market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global cosmetics market. To depict the competitive landscape in the market, recent advancements in the industry as well as competitive tactics such as product launches, partnerships, mergers, and acquisitions have been taken into account. In each sub-segment of the global cosmetics market, the report strategically identifies, characterizes, and analyzes the core competencies of the major market participants.

 

Global Cosmetics Market Report Coverage

Report CoverageDetails
Base Year:2023
Market Size in 2023:USD 426.4 Billion
Forecast Period:2023-2033
Forecast Period 2023-2033 CAGR:6.88%
2033 Value Projection:USD 829.2 Billion
Historical Data for:2019-2022
No. of Pages:200
Tables, Charts & Figures:115
Segments covered:By Category, By Gender, By Distribution Channel, By Region
Companies Covered:L'Oréal S.A., Unilever, P&G, Estée Lauder, Shiseido, Johnson & Johnson, Skinfood Co. Ltd., Henkel, PUIG, Oriflame Cosmetics AG, Skinfood Co. Ltd, Kao Corporation, Beiersdorf AG, Amway Corp, Coty Inc., Revlon, Inc., Avon Products Inc., and other key companies.
Pitfalls & Challenges:Covid-19 Empact,Challenges,Growth, Analysis.

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Driving Factors

The global cosmetic market is driven by consumer shift toward the use of herbal cosmetics. The market is continuing to rise due to customer preferences for natural products and growing awareness of the effects of cosmetics made of natural substances on the body. Moreover, the market for cosmetics is expected to grow due to the increased use of anti-aging products by older consumers. Consumers evaluations and ratings provide insightful information about the effectiveness and caliber of cosmetic items, empowering buyers to make more assured decisions. Consumers prefer the use of multi-purpose skin care products which help them to save money. Numerous well-liked multifunctional skin care products are available in the market. BB and CC creams, as well as tinted moisturizers, are among the most well-liked products with several advantages. Additionally, several companies have started selling tinted serums that offer skincare advantages and complete coverage. Other moisturizers with SPF protect the skin from the sun's rays while simultaneously hydrating it.

 

Restraining Factors

The increased cost of cosmetic products is hampering the growth of the cosmetic market. According to the Bureau of Labor Statistics, the prizes of cosmetics, perfume, nail products, and others have increased by 5.1% as compared to 2022 also most of the companies have said that prizes for cosmetic products will increase by 2023.

 

Market Segmentation Analysis

The Global Cosmetics Market share is classified into category, gender and distribution channel

  • The skin care segment is expected to hold the largest share of the global cosmetic market during the forecast period.

Based on the category, the global cosmetics market is divided into makeup, hair care, skin care, and others. Among these, the skin care segment is expected to hold the largest share of the global cosmetic market during the forecast period. The skin care products are widely used in the daily life. People with skin care problems mostly use skin products. Several skincare products are developed on a large scale to accelerate the healing process of the skin also exploiting the scars and rashes.

 

  • The women segment is expected to grow at the fastest pace in the global cosmetics market during the anticipation period.    

Based on the gender, the global cosmetics market is divided into men and women. Among these, the women segment is expected to grow at the fastest pace in the global cosmetics market during the anticipation period. Global Cosmetics Market is expected to hold a large share as most of the cosmetic manufacturing companies are targeting women by developing the most relevant products for women. Cosmetic products are mostly explored by young girls and working women. The increase in number of the working women is expected to boost the cosmetic products demand which significantly drives the cosmetic market. Moreover, contests such as Miss Universe, Miss World, and Victoria’s Secret are attracting more women to cosmetic products as they enhance their look.

 

  • The hypermarket/supermarket segment is expected to hold the greatest share of the global cosmetics market during the forecast period.

Based on distribution channels, the global cosmetics market is divided into online and offline channel. Online channels include e-commerce and offline channels include hypermarkets/supermarkets, specialty stores, and others. Among these, the hypermarket/supermarket segment is expected to hold the greatest share of the global cosmetics market during the forecast period. Supermarket markets offer bulk products with low prices or with discount offers. Value packs of shampoos, conditioners, antidepressants, and body lotions are easily available in these markets which attract consumers. A wide range of specific brands is offered under the specialty stores. Majorly makeup products, anti-aging cosmetics, and fragrance products from luxury brands are offered by specialty stores. Therefore, these stores are gaining the attention of the customers.

 

Regional Segment Analysis of the Global Cosmetic Market

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
  • Asia-Pacific (China, Japan, India, Rest of APAC)
  • South America (Brazil and the Rest of South America)
  • The Middle East and Africa (UAE, South Africa, Rest of MEA)

 

Asia-Pacific region is anticipated to hold the largest share of the global cosmetics market over the predicted timeframe. The Asia-Pacific region is impacted by the J beauty and K beauty products. The Asia-Pacific region has a large aging population within countries such as Japan, China, and India which directly increased the demand for anti-wrinkle, anti-aging, and dark spot products. The rise in the population of the middle class is driving the demand for cosmetic products. In addition, the increase in preference towards high quality and premium and the rise in income of the population are further increasing the demand for branded cosmetics items in the Asia-Pacific region.

 

North America market is anticipated to hold the largest share of the global cosmetics market over the forecast period. The North American market of cosmetics is witnessing strong owing to higher spending of the population and increasing demand for premium brands. Also increased incidences of skin-related issues such as rashes and wrinkles in the U.S. and Mexico are driving the demand for dermatological skin care cosmetic products.   

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global cosmetic along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

  • L'Oréal S.A.
  • Unilever
  • P&G
  • Estée Lauder
  • Shiseido
  • Johnson & Johnson
  • Skinfood Co. Ltd.
  • Henkel
  • PUIG
  • Oriflame Cosmetics AG
  • Skinfood Co. Ltd
  • Kao Corporation
  • Beiersdorf AG
  • Amway Corp
  • Coty Inc.
  • Revlon, Inc.
  • Avon Products Inc.
  • Others.

 

Recent Developments

  • In November 2023, L’Oreal Group announces a partnership with Cosmo International Fragrances to work on the green science-based extraction for fragrance production.
  • In May 2023, Revlon global leader in the manufacturing of beauty cosmetics launched a new hair color product named ‘N’ care.
  • In November 2022, Avon Products Inc. made a partnership with the Perfect Corp. to launch which allows trying on make virtually.  

 

Market Segment

This study forecasts revenue at country, regional and global levels from 2020 to 2033. Spherical Insights has segmented the Global Cosmetics Market based on the below-mentioned segments:

 

Global Cosmetic Market, By Category

  • Skin and Sun Care Products
  • Hair Care
  • Eye Cosmetics
  • Deodorants and Fragrances
  • Others

 

Global Cosmetic Market, By Gender

  • Women
  • Men

 

Global Cosmetic Market, By Distribution Channel

  • Online 
  • E-commerce
  • Companies websites 
  • Offline
  • Hypermarkets/supermarkets

 

Global Cosmetic Market, By Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • Uk
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Qatar
    • South Africa
    • Rest of the Middle East & Africa

Frequently Asked Questions (FAQ)

  • 1. What is the growth of cosmetics market?
    The cosmetics market is expected to grow with CAGR of 6.88% during the forecast period 2023-2033 to reach 829.2 Billion by 2033.
  • 2. What are the driving factors of global cosmetics market?
    The global cosmetics market is driven by the increased use of herbal cosmetics.
  • 3. Which region hold large market share?
    Asia-Pacific region dominating the largest market share.
  • 4. Which companies are consolidating the cosmetics market?
    The global cosmetics market is consolidated by the L'Oréal S.A., Unilever, P&G and others.

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