Global Cosmetics Market Report by Product Type (Skin and Sun Care Products, Hair Care Products, Deodorants and Fragrances, Makeup and Color Cosmetics, Others), Gender (Men, Women, Unisex), Distribution Channel (Supermarkets/hypermarkets, Specialty Stores, Pharmacies, Online Sales, Others), Regions and Company Analysis 2024-2032

Global Cosmetics Market Size

The considerable adoption of skin care and personal care merchandise propels the global cosmetics market throughout the forecast period. A developing elderly population worldwide similarly fuels the surge. Dynamic style developments and widespread innovation in hair color, skincare formulations, and packaging contribute notably to the expansion of the cosmetics market. The industry's adaptability and responsiveness to evolving consumer possibilities ensure a robust trajectory, growing a harmonious blend of necessity, trend, and innovation in the ever-expanding realm of cosmetics.

Moreover, the customization and personalization trend in the global cosmetics market provides a unique opportunity for brands to interact with customers by tailoring products to individual preferences. Manufacturers can offer personalized skincare exercises, makeup shades, and formulations by leveraging technology. This not only complements the consumer experience but also fosters brand loyalty. The ability to cater to various needs and possibilities allows corporations to differentiate themselves in a competitive market and meet the developing demand for bespoke beauty solutions.

The symbiotic increase in the fashion and entertainment sectors fuels a surging demand for contemporary cosmetics. Heightened consciousness of cosmetics' beneficial properties and recurring use stems from the speedy growth of these industries. Their influence emerges as pivotal drivers propelling the global cosmetics market forward. As purchasers search to align with evolving traits and maintain a sophisticated appearance, the demand for progressive cosmetic products strengthens. This, in turn, establishes the fashion and entertainment sectors as quintessential pillars in shaping the cosmetics panorama.

Besides, the surge in working women and heightened millennial appearance awareness propel the global cosmetics market to increase. Increasing attention to harmful chemical compounds activates the upward push of natural and organic facial cosmetics. India and China dominate the thriving color cosmetics industry, with local players like the Shahnaz Husain Group specializing in herbal/ayurvedic products. Further, the demand for long-lasting, water-proof, SPF-infused, and vitamin-rich makeup presents a beneficial opportunity for critical players, fostering innovation in the cosmetics market. This evolving panorama aligns with patron choices for healthier, enduring beauty solutions.

Growth Driver in the Global Cosmetics Market

Rising Consumer Awareness and Demand for Personal Care

As consumers become increasingly aware of the importance of personal grooming and self-care, the demand for cosmetic products has surged. The growing focus on beauty and personal appearance, fueled by social media and influencer culture, drives consumers to invest in skincare, makeup, and hair care products. This heightened awareness encourages brands to innovate and expand their product lines, catering to diverse consumer needs and preferences, thereby propelling market growth. July 2022, Henkel opens a “cutting-edge” beauty care production facility in Riyadh, Saudi Arabia, to meet the “growing demand” for premium personal care products in the Middle East.

Shift Towards Natural and Organic Products

The trend towards natural and organic cosmetics is gaining momentum as consumers seek products free from harmful chemicals. With increasing concerns about skin health and environmental sustainability, many consumers prefer eco-friendly and ethically sourced products. This shift encourages brands to formulate products with natural ingredients, leading to the growth of organic skincare and makeup lines. As a result, the demand for clean beauty products is significantly contributing to the overall expansion of the cosmetics market. Oct 2023 — Organic Harvest entered the color cosmetics category with the launch of a new makeup line, offering toxin-free and cruelty-free formulations.

E-commerce and Digital Transformation

The rise of e-commerce has transformed the cosmetics market, making products more accessible to consumers worldwide. Online shopping platforms offer convenience, a wider range of products, and competitive pricing, attracting a diverse customer base. Additionally, the use of augmented reality (AR) technology in virtual try-ons enhances the online shopping experience, driving sales in the cosmetics sector. As brands invest in their online presence and digital marketing strategies, e-commerce is expected to be a key growth driver for the global cosmetics market. In August 2024, Chanel just launched its e-commerce site in India.

Skin and sun care products could take the lead in the cosmetics market

By product types, the global cosmetics market is fragmented into Skin and Sun Care Products, Hair Care Products, Deodorants and Fragrances, Makeup and Color Cosmetics, and Others. Skin and sun care products might dominate the global cosmetics market. This is due to the escalating focus on skin care's important position in health and beauty. These products are in high demand with a growing emphasis on sun protection to save skin harm. The ever-increasing occurrence of skin-related worries and an ever-increasing older population searching for anti-aging solutions similarly contribute to their dominance. Continuous innovation in formulations and an increasing purchaser base looking for effective skincare routines. This solidifies the placement of skin and sun care products at the vanguard of the global cosmetics market.

Women possibly hold a substantial portion of the global cosmetics market

By gender, the global cosmetics market is segmented into Men, Women, and Unisex. Women dominate a significant share of the global cosmetics market. Societal norms emphasizing women's looks propel increased investment in beauty merchandise. Women's ancient inclination towards skincare and makeup as a part of self-care rituals contributes to this dominance. Moreover, the cosmetics industry strategically designs diverse products for women's distinctive needs and prospects. Consequently, their considerable cosmetic market presence results from cultural effects and centered advertising methods to satisfy their beauty aspirations.

Supermarkets and hypermarkets could command a notable portion of the global cosmetics market

By distribution channels, the global cosmetics market is categorized into Supermarkets/hypermarkets, Specialty Stores, Pharmacies, Online Sales, and Others. Supermarkets and hypermarkets might proclaim a significant share of the global cosmetics market. This is owed to their accessibility and comprehensive purchaser reach. These retail giants offer a range of cosmetic merchandise under one roof, supplying convenience to consumers. Also, their competitive pricing strategies and promotional activities attract finance-conscious purchasers. With an in-depth presence in urban and suburban regions, supermarkets and hypermarkets serve as key distribution channels. This captures a good-sized part of the cosmetics market and solidifies their function as industry leaders.

United States Cosmetics Market

The United States wields substantial influence in the global cosmetics market. Major multinational companies, including Estée Lauder and Procter and Gamble, established within the US, exert a considerable effect through their expansive international reach and numerous brand portfolios. These agencies prioritize innovation, research, and improvement, constantly introducing new products to meet multiple customer needs. Furthermore, the United States' substantial marketing campaigns and cultural influence are pivotal in shaping global beauty tendencies, fueling worldwide demand for cosmetics in the United States.

India Cosmetics Market

The cosmetics market in India is witnessing significant growth, fueled by rising disposable incomes and an increasing focus on personal grooming among consumers. The demand for a diverse range of products, including skincare, makeup, and hair care, is on the rise, particularly among millennials and Gen Z. Social media and digital marketing have played a crucial role in shaping consumer preferences, leading to the popularity of new brands and innovative products. Additionally, the shift towards natural and organic cosmetics is gaining momentum as consumers prioritize health and sustainability. With these trends, the Indian cosmetics market is poised for robust expansion in the coming years. In April 2024, Kylie Cosmetics, the global beauty phenomenon founded by Kylie Jenner, announced its launch in India.

Saudi Arabia Cosmetics Market

The cosmetics market in Saudi Arabia is experiencing rapid growth, driven by increasing consumer awareness of beauty and personal care products. As the demand for high-quality cosmetics rises, consumers are seeking a wide range of products, including skincare, makeup, and fragrances. The influence of social media and beauty influencers has further boosted interest in cosmetic brands. Additionally, the Saudi government's initiatives to promote local manufacturing and diversify the economy are encouraging investments in the beauty sector. The growing preference for organic and natural cosmetics reflects changing consumer attitudes toward health and sustainability, positioning the market for continued expansion in the coming years. September 2023: Charlotte Tilbury, the renowned British beauty brand, opened two new stores in Riyadh, Saudi Arabia. The store claims to include the brand's award-winning makeup and skin care products.

Key Players

The companies present in the global cosmetics market are Coty Inc., Procter & Gamble, The Estee Lauder Companies Inc., Colgate-Palmolive Company, Johnson & Johnson Services Inc., Revlon, Inc., Beiersdorf Group, Kao Corporation, LVMH, Mary Kay Inc.

• In August 2023 - Kao Corporation declared that its wholly-owned subsidiaries, Kao Australia Pty. Limited and Kao USA Inc., will obtain the Bondi Sands brands by buying Bondi Sands Australia Pty Ltd and associated Bondi Sands companies. This move aims to expand its portfolio to include a variety of sun care and skincare products.
• In January 2023 - Maybelline New York launched the Fit Me Fresh Tint foundation, a versatile 2-in-1 product suitable for daily use. Marketed as a hybrid makeup and skincare solution, the foundation incorporates beneficial components like pigments, vitamin C, and SPF 50. This product caters to consumer demand for multifunctional beauty solutions that provides coverage and protection.

Product Type – Global Cosmetics Market breakup in 5 viewpoints:

1.    Skin and Sun Care Products
2.    Hair Care Products
3.    Deodorants and Fragrances
4.    Makeup and Color Cosmetics
5.    Others

Gender – Global Cosmetics Market breakup in 3 viewpoints:

1.    Men
2.    Women
3.    Unisex

Distribution Channel – Global Cosmetics Market breakup in 5 viewpoints:

1.    Supermarkets/hypermarkets
2.    Specialty Stores
3.    Pharmacies
4.    Online Sales
5.    Others

Country – Global Cosmetics Market of 25 Countries Covered in the Report:

1.    North America

1.1    United States
1.2    Canada

2.    Europe

2.1    France
2.2    Germany
2.3    Italy
2.4    Spain
2.5    United Kingdom
2.6    Belgium
2.7    Netherlands
2.8    Turkey

3.    Asia Pacific

3.1    China
3.2    Japan
3.3    India
3.4    South Korea
3.5    Thailand
3.6    Malaysia
3.7    Indonesia
3.8    Australia
3.9    New Zealand

4.    Latin America

4.1    Brazil
4.2    Mexico
4.3    Argentina

5.    Middle East & Africa

5.1    Saudi Arabia
5.2    United Arab Emirates
5.3    South Africa

All the Key players have been covered from 3 Viewpoints:

•    Overview
•    Recent Development
•    Revenue Analysis

Company Analysis:

1.    Coty Inc.
2.    Procter & Gamble
3.    The Estee Lauder Companies Inc.
4.    Colgate-Palmolive Company
5.    Johnson & Johnson Services Inc.
6.    Revlon, Inc.
7.    Beiersdorf Group
8.    Kao Corporation
9.    LVMH
10.    Mary Kay Inc.

Report Details: