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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Cosmetics Market Regional Analysis
North America dominates the market in terms of revenue. The cosmetics market share in the United States has been witnessing rapid growth. In 2023, the cosmetic sector in the United States generated a revenue of USD 19.43 billion, while Europe generated USD 22.3 billion in revenue. The premiumisation of cosmetic products is driving the sales of luxury/prestige cosmetics in the United States. In Q3 2022, prestige cosmetic revenue reached a value of USD 2.1 billion. The United States has the presence of about 4.7 million prestige cosmetic and beauty shoppers. On average, the American population spend between USD 244 and USD 313 on cosmetics each month.
Meanwhile, due to the introduction of a variety of products and massive technological development, Europe accounts for a significant share of the market. The growth of the cosmetics industry in Europe has been driven by various factors like the escalating use of anti-ageing cosmetics and the increasing demand for premium and clean labelled products in the region. These cosmetics market opportunities can open up new avenues for growth in the region during the forecast period.
Cosmetics Market Report Snapshots
Cosmetics Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global cosmetics market attained a value of nearly USD 343.37 billion.
The market is projected to grow at a CAGR of 5.2% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach USD 541.89 billion by 2032.
The major industry drivers are the growing population, rising urbanisation, growing social media influence, aggressive advertising, and the rising consumer focus towards grooming and personal appearance.
The key trends supporting the cosmetics market are growing internet penetration in urban and rural areas, the rising inclination of consumers to purchase cosmetics online, and the ease and convenience of online shopping.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The cosmetics products in the market are hair care, skin and sun care, makeup and colour cosmetics, and fragrances and deodorants, among others.
Based on gender, the market can be divided into men, unisex and women.
The price ranges can vary between mass, mid-premium, and premium.
The distribution channels of the industry include supermarkets and hypermarkets, convenience stores, speciality stores, and online, among others.
The major players in the market are L’Oréal S.A., Unilever plc, The Estée Lauder Companies Inc., The Procter & Gamble Company, Shiseido Co., Limited, L Brands, Kao Corporation, Oriflame Cosmetics Global SA, Christian Dior SE, Beiersdorf AG, Groupe Clarins, Huda Beauty Limited, Revlon, Inc., and Coty Inc., among others.
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