IMARC Group, a leading market research company, has recently released a report titled “Cosmetics Market Report by Product Type (Skin and Sun Care Products, Hair Care Products, Deodorants and Fragrances, Makeup and Color Cosmetics, and Others), Category (Conventional, Organic), Gender (Men, Women, Unisex), Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Pharmacies, Online Stores, and Others), and Region 2024-2032”. The study provides a detailed analysis of the industry, including the cosmetics market share, size, trends and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global cosmetics market size reached US$ 400.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 618.7 Billion by 2032, exhibiting a growth rate (CAGR) of 4.8% during 2024-2032.
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Factors Affecting the Growth of the Cosmetics Industry:
- Evolving Consumer Preferences:
Consumer preferences in the cosmetics market are shifting dramatically, influenced by a growing awareness of personal health, wellness, and sustainability. Today’s consumers are increasingly seeking products that are natural, organic, and free from harmful chemicals. This shift is driven by concerns over the long-term effects of synthetic ingredients on health and the environment. The rise of the clean beauty movement has spurred demand for products that are eco-friendly and cruelty-free. Additionally, there is a notable increase in demand for inclusive beauty products that cater to diverse skin tones and types. As a result, cosmetic brands are innovating to offer products that meet these new consumer expectations, leading to an expanded range of natural and inclusive beauty products in the market, aiding the market growth.
- Technological Advancements:
Technological advancements are significantly impacting the cosmetics industry, driving growth through enhanced product formulations and innovative delivery systems. The use of biotechnology in the development of active ingredients allows for more effective and targeted treatments, such as anti-aging and skin repair. Advanced manufacturing technologies, such as three-dimensional (3D) printing and precision formulation, enable brands to offer personalized cosmetic products tailored to individual needs. Moreover, digital technologies, including augmented reality (AR) and artificial intelligence (AI), are revolutionizing the shopping experience. AR allows consumers to virtually try on products, while AI-driven recommendations and personalization enhance the customer journey, bolstering the market growth.
- Increased Disposable Income:
Rising disposable income is a significant driver of growth in the cosmetics market. As economic conditions improve, consumers are willing to spend more on premium and luxury beauty products. The expanding middle class in countries such as China, India, and Brazil are contributing to higher consumption of cosmetics. Increasing disposable income allows consumers to invest in higher-quality products and indulge in beauty treatments, including skincare, makeup, and personal care items. This economic growth is fostering greater market opportunities for both established and new cosmetic brands looking to capitalize on the rising spending power of consumers, thereby contributing to the market expansion.
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Cosmetics Market Report Segmentation:
By Product Type:
- Skin and Sun Care Products
- Hair Care Products
- Deodorants and Fragrances
- Makeup and Color Cosmetics
- Others
Skin and sun care products account for the majority of shares due to increasing awareness about skincare routines and the importance of ultraviolet (UV) protection.
By Category:
- Conventional
- Organic
Conventional products dominate the market because they are widely available and often more affordable, appealing to a broad consumer base.
By Gender:
- Men
- Women
- Unisex
Women represent the majority of shares because they are the primary consumers of beauty and personal care products.
By Distribution Channel:
- Supermarkets and Hypermarkets
- Specialty Stores
- Pharmacies
- Online Stores
- Others
Supermarkets and hypermarkets exhibit a clear dominance owing to their wide variety of products at competitive prices, which makes them convenient for consumers.
Regional Insights:
- 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
North America enjoys the leading position owing to high consumer spending power and a strong presence of major cosmetic brands.
Global Cosmetics Market Trends:
The increasing influence of social media and digital marketing amplifies brand visibility and consumer engagement as influencer endorsements and user-generated content drive trends and consumer preferences, while targeted online advertising enhances product discovery and boosts sales, impelling the market growth. Besides this, the rising popularity of do-it-yourself (DIY) beauty treatments and at-home spa experiences is supporting the market expansion. Furthermore, consumers are increasingly investing in high-quality, professional-grade products for personal use, spurred by the desire for convenience and self-care, which boosts demand for innovative and accessible cosmetic solutions, providing an impetus to the market growth.
Top Companies Operated in Cosmetics Industry:
- Amway Corp
- Avon Products Inc.
- Beiersdorf AG
- Henkel AG & Co. KGaA
- Kao Corporation
- L'Oréal S.A.
- Oriflame Cosmetics AG
- Procter & Gamble Company
- Revlon Inc. (MacAndrews & Forbes Incorporated)
- Shiseido Company Limited
- Skinfood Co. Ltd.
- The Estée Lauder Companies Inc
- Unilever plc
Key Highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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